Investment Guarantees in Angola

Investment Guarantees in Angola

Article 16 of the private investment law states the following investment guarantees in Angola

• The Angolan State guarantees all private investors access to Angolan courts in defense of their 11 rights, with their being guaranteed due legal process.

• Private investors, both domestic and foreign, are entitled to denounce, direct to the Public Prosecution Service, in accordance with Law N.o 3/10, March 29, 2010 — the Public Probity Law, any irregularities, illegalities, and any acts of improbity in general, attempting, directly or indirectly, to harm their economic interests, even before their investment application has been officially approved.

• In the case of assets that are the subject of a private investment project being expropriated or requisitioned because of duly considered and justified reasons of public interest, in accordance with law, the State ensures the payment of fair, prompt, and effective compensation, the amount of which being determined in accordance with the applicable rules and regulations.

• The State guarantees, according to law, protection of and respect for professional secrecy, both banking and commercial, for companies and enterprises incorporated for the purposes of private investment.

• The rights granted to private investments in accordance with this law are ensured without prejudice to others arising out of agreements and conventions to which the Angolan State is an integral party.

Article 17 (Other Guarantees)

• Industrial property rights, together with all intellectual property rights, are guaranteed in accordance with prevailing legislation.

• Rights acquired with ownership, utilization and titled development of land, as well as of other property-related resources, are guaranteed in accordance with prevailing legislation.

• Non-interference by the State in the management of private companies is guaranteed, except in those cases expressly provided for in law.

• The State guarantees that licenses will not be cancelled without recourse to the respective judicial or administrative process.

• The right to import goods direct from abroad and the independent export of products produced by private investors is guaranteed, without prejudice to the domestic- market protection rules applicable.

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