Investment Incentives in Somalia

Foreign Investment Incentives in Somaliland

  • Tax incentives

Foreign investment shall not pay tax on profits for the first three years, after which it shall be entitled to 50% reduction on tax on profit

Machinery, equipment and material shall be exempt from import tax.

  • Facilities for foreign personnel

The board shall ensure that immigration authorities facilitate the granting of permits and residence visas to foreign personnel.

Foreign personnel may freely transfer up to 50% of their salaries, wages, gratuities and allowances paid in Somaliland.

  • Reinvestment of profits

Profits may be reinvested in the registered enterprise in which case the board must be notified

  • Repatriation of capital and profits

Profits from registered enterprises may be freely repatriated. In case only part of the profit is repatriated, the remaining can be repatriated in any year following

Original investment plus profit reinvested shall be freely transferable after three years from the date of registration

The transfer of capital shall be affected in original currency in physical equipment and material.

http://shuraako.org/foreign-investment-incentives-somaliland-1

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