Republic of Angola
Law Number 15/94
Foreign Investment Law
September 23 1994
Foreign Investment Law15/94
Foreign investment plays an extremely important role in the Country's economic
It is therefore important to establish a legal regime for it which, while not
prejudicing the State's essential interests, will be sufficiently attractive to potential
investors; providing them with both credible security guarantees and legal stability, a
nd clear regulations and straightforward, rapid procedures.
This being so, an urgent reformulation of all current foreign investment
legislation is required, starting with the content of its general legal regime.
Thus, under the terms of line b) of Article 88 of the Constitutional Law, the
National Assembly passes the following:
Chapter I - General Provisions
• Article 1 (Scope)
This Law sets out the foreign investment regime and procedures to be applied in
the Republic of Angola.
• Article 2 (Promotion of Foreign Investment)
The Government should promote and provide incentives for foreign investment
that is consistent with the country's economic and social development and the general
well-being of the population.
• Article 3 (Permissibility of Foreign Investment)
Foreign investments are allowed to be made by suitably recognized entities with
acknowledged technical and financial capacity, provided the investments are not
the economic and social developments strategies defined by the competent
the strategic guidelines and objectives set out in the economic policy
Foreign investment is prohibited in the following areas:
defence, internal public order and State security:
banking activities involving central bank and issuing bank function;
other areas which are considered by law to be absolutely reserved for the
• Article 4 (Definitions)
For the purp