Angola | 2018.03.12
GENERAL STATE BUDGET LAW FOR 2018 AUTHORIZES AMENDMENTS TO TAX LAWS
The General State Budget for 2018, recently enacted by Law No. 3/18, of 1 March 2018, authorizes the President to make several amendments to tax legislation, namely in respect of Investment Income Tax, Consumption Tax and Stamp Duty, as well as amendments to the Customs Code. The amendments include:
Angola | 2018.03.08
NEW PRIVATE INVESTMENT LAW UNDER DISCUSSION
On 28 February 2018, the Council of Ministers approved a new draft Private Investment Law, which will establish new principles and rules aimed at facilitating, promoting and accelerating private investment operations in Angola.
Timor-Leste | 2018.03.07
TIMOR-LESTE AND AUSTRALIA SIGN LANDMARK MARITIME BOUNDARY TREATY
Yesterday, 6 March 2018, at 5 pm in New York, the “Treaty Between Australia and the Democratic Republic of Timor-Leste Establishing their Maritime Boundaries in the Timor Sea” (the “Maritime Boundary Treaty”) was signed before the United Nations’ Secretary-General, the Honorable António Guterres.
Angola | 2018.03.01
ANGOLA EXEMPTS AND FACILITATES ISSUANCE OF TOURIST VISAS
Presidential Decree 56/18, of 20 February 2018, which approved the regime on the exemption from tourist visas and the administrative procedures aimed at facilitating their issuance was recently enacted. The statute shall enter into force on 30 March 2018.
Angola | 2018.02.21
ANGOLAN CENTRAL BANK DIRECTS COMPANIES TO PURCHASE FOREIGN CURRENCY EXCLUSIVELY FROM COMMERCIAL BANKS
By means of Central Bank of Angola ("BNA") Directive of 12 February 2018, BNA ordered companies to purchase foreign currency exclusively from commercial banks, except that large importers of medicines and foodstuffs may continue to submit their requestes for purchase of foreign currency to the relevant ministries.
Angola | 2018.02.06
ANGOLAN CENTRAL BANK APPROVES NEW FOREIGN EXCHANGE RULES
Following the adoption of a currency band, a number of regulatory rules related to the purchase and sale of foreign currency were issued by the Angolan Central Bank ("BNA").
Cape Verde | 2018.02.05
CAPE VERDE INTERNATIONAL BUSINESS CENTRE SEEKS TO ATTRACT FOREIGN INVESTMENT
Decree-Law No. 57/2017, of 6 December 2017, amends the legal framework of the Cape Verde International Business Centre (CIN-CV), by introducing regulations which will finally allow its implementation. In view of its special features, the CIN-CV may become an important driver to attract foreign investment into Cape Verde.
Cape Verde | 2018.01.24
ENTRY AND STAY VISAS SUBJECT TO NEW RULES
Law No. 19/IX/2017, of 13 December 2017, came into force on 1 January 2018. This statute approved the second amendment to the Legal Regime of the Entry, Residence, Exit and Expulsion of Foreign Citizens in the Cape Verdean Territory, as enacted by Law No. 66/VIII/2014, of 17 July 2014.
Cameroon | 2018.01.22
LICENSING ROUND FOR EIGHT OIL & GAS BLOCKS IN CAMEROON
The National Hydrocarbons Corporation (SNH) of Cameroon has recently announced the terms of reference for the Licensing of eight (8) oil & gas blocks: BOMANA, BOLONGO and BAKASSI in the hydrocarbons’ rich Rio del Rey (RDR) Basin, and ETINDE EXPLORATION, NTEM, ELOMBO, TILAPIA and KOMBE/NSEPE in the highly prospective Douala/Kribi-Campo (DKC) Basin.
Mozambique | 2018.01.16
NEW EXCHANGE CONTROL RULES PUBLISHED
The new foreign exchange rules and procedures approved by the Bank of Mozambique (“BoM”) have just been published in the Official Gazette as Notice No. 20/GBM/2017, of 27 December 2017 (“New FX Rules”).