According to Angola's Presidential Decree No. 146/21 of June 2nd, Angola lifted the restrictions on the opening and closing process of the establishment of representative offices of foreign-funded enterprises by non-citizens of Angola.It aims to simplify the procedures for foreign companies to register a representative office in the country to improve the business environment.
The new legal system also abolished the requirement of the Central Bank of Angola to issue capital import permits, and only needs to provide a capital entry certificate for the withdrawal of the commercial bank receiving the capital.
In addition, the new law also abolished the guarantee obligations of representative offices of foreign companies, as well as restrictions on the maximum number of workers that can be hired and nationality restrictions. In terms of hiring workers, they must hire a number of people suitable for their business activities in accordance with the current legal provisions.
The new presidential decree issued this time replaces the 7/90 presidential decree issued on March 24.