贊比亞投資者指南2
5.APPLICATIONFORINVESTMENTINCENTIVES
5.1Overview
OncetheinvestorhasreceivedtheCoRandconfirmationoftheprojectbeingapprovedwith
specialincentives,youwillbeeligibleforcustomsdutyexemptionsoncapitalequipmentand
machinery,andcorporatetaxincentivesfromfirstyearofprofitability.
Inorderforyoutofullyreceivethetaxbenefits,youwillneedtoapplythroughtheZDA
InvestmentsOffice(submitdocumentstoyourIPO),whothenrecommendtotheMinister’sofficeat
theMinistryofFinance(MOF).TheMinisterthenapprovestherecommendationandtheapprovalis
senttotheZambiaRevenueAuthority(ZRA)forconfigurationintothesystem.
OnceyoureceiveconfirmationofyourapprovalfromtheZDA,youmaythencommencewith
importationofyourapproveditems.KindlynotethattheZDAwillonlyrecommenditemsthatthe
IPOandSIPOconfirmascapitalequipmentandmachinerythataidintheproductionprocessandare
specifictoyoursector.
5.2STEP1:ConsultationandDocumentPreparation
(A)OnceitisestablishedthatyourlicensehasbeenapprovedunderSection56oftheZDAAct,your
IPOwillbeadviseyoutocomprehensivelyfillinandsubmittheCustomsdutyexemption
applicationtable.
(B)Yourapplicationshouldincludecapitalequipmentandmachineryitemized,theintended
use/purpose,andtheestimatedvalueinUS$.
(C)Oncethisapplicationissubmitted,itisanalyzedbyyourIPO,andsenttotheMOFforfurther
analysisandapproval.
(D)TheMinisterofFinancethenapprovesyourapplication;
thisisthensenttotheZRACommissionerGeneralforenteringintothesystemforeaseofimportationo
fitems.
5.3STEP2:ReceiptofFinalApprovedSchedule
(A)Afteraperiodofabout2-3weeksyourIPOwillinformyouaboutthestatusofyourcustoms
application.
(B)Ifapproved,youarethenadvisedtocommencewiththeimportationofyourapprovedcapital
equipmentandmachinerythroughtheInvestmentsOfficeattheZDA.
(C)Itisimportanttonotethatyouwillhavetoapplyforarebateoneachapproveditemthroughthe
ZDAwiththeIPOs.ThefeeisK70.00perinvoice.
(D)YourIPOwillissueyouwith2rebateletters.Oneisforyourrecordsandreferenceandtheother
shouldbesubmittedtoyourclearingagentwhowillthenproceedtoworkouttheclearingfor
youattheZRAportofentry.
5.4STEP3:ApplicationforCorporateTaxIncentives
(A)Theseincentivesarevalidorcomeintoeffectfromthefirstyearyoubegintomakeprofits.
However,administrativeproceduresrequirethatyouapplydirectlytotheZRACommissioner
DirectTaxesattachingdocumentsthatyourIPOwillprovide.
6.APPLICATIONFORIMMIGRATIONPERMITS
6.1Overview
AnyIndividualorinvestorwishingtoliveanddobusinessinZambiaisrequiredtocomplywith
theImmigrationActandapplyfortherelevantpermitsandVisa’s.TheZambianLawrequiresthat
applicantsforEmploymentPermitssecureandapplyfortheirpermitswhilstoutsidethecountry
(formoreinformationvisitwww.zambiaimmigration.gov.zm).
Investors/ShareholdersinacompanyareexpectedtoapplyforanInvestor’sPermit.Thispermit
allowsyouasaninvestortomovefreelyinandoutofthecountryandalsopermitsyoutoimport
yourpersonalitemsfromyourcountryoforigin,dutyfree.Theseitemsalsoinclude1personal
vehiclepershareholder.InvestorswhowishtoapplyforanInvestor’sPermitmustshowevidenceof
havingtransferrednotlessthanUS$250,000.00ineitheraZambianBankAccountorinformof
equipmentandmachinerybyattachingcustomsformsCE20fromtheZRAorBanktransfer
documents.
6.2STEP1:ConsultationandDocumentPreparation
(A)YourIPOwillprovideyouwithrelevantinformationtoassistyoutoprepareadequatelyforthe
applicationofImmigrationPermits,(Annex5).
(B)Oncetheoperationsofyourcompanyaremappedoutandthehumanresourcerequirementsfully
outlined,youmaythenproceedtoadvertiseforvacanciesinyourcompany.
(C)Shouldyounotfindqualifiedpersonnelforthesepositionsin
applyfor5justifiableWorkPermitsthroughtheInvestmentsDivisionofZDA
(D)Thereareminimumrequirementsthatacompanyneedstofulfill,thisinformationwillbeavailed
toyoubyyourIPO.
(E)Yourapplicationforthepermitswilltakeaperiodof4-6weeks.
6.3STEP2:ReceiptofPermits
(A)OnceyourpermitsarereadytheresponsibleIPOwillcontactyoutoinformyouontherequired
procedureofcollectingthePermitbooksfromtheImmigrationDepartment.
7.OTHERREQUIREDLINCENSES/PERMISSIONS
Belowarelistedcommonlicensesthatmayalsoberequiredinordertooperateyourbusinessactivities.
YourIPOwillassistyouinobtainingtheselicensesfromtherelevantinstitutions.
7.1EnvironmentalImpactAssessment(EIA)
AllinvestmentprojectsrequireeitheraprojectbrieforafullEnvironmentalImpactAssessment(EIA)
thatisdonebytheEnvironmentalEnvironmentalManagementAuthority(ZEMA).
7.2TelecommunicationLicense
Projectsintelecommunicationsuchasmobilecellularcompanies,internetserviceproviders(ISPs),
etcrequireatelecommunicationlicenseobtainedfromtheZambiaInformationandCommunication
TechnologyAuthority(ZIVTA).
7.3TourismLicense
Hotels,Safarishunting/walks,TourGuides,Restaurants,Nightclubs,projectsoperatinginnational
parksandGameManagementAreas(GMAs),etc.requirelicensesandpermitsfromthe
TouristBoard(ZTB),ZambiaWildlifeAuthority(ZAWA)andLocalMunicipalities.
7.4FinancialandNon-FinancialInstitutions
Financialandnon-financialInstitutionssuchasBanksandBureausrequireapprovalfromBankof
7.5InsurancePermit
InsurancecompaniesandinsurancebrokersrequireauthorityfromthePensionsandInsurance
Authority(PIA)orSecuritiesExchangeCommission(SEC).
7.6Medical-relatedLicense
Medicalprojectssuchasclinics,surgeries,
dispensariesanddrugcompaniesrequireapprovalfromthe
PharmaceuticalregulatoryAuthority(PRA).
7.7StockBrokerRegistration
StockbrokershavetoberegisteredwiththeSecuritiesandExchangeCommission(SEC).
7.8ManufacturingLicense
Manufacturingprojectsrequireamanufacturer’slicensefromlocalmunicipalities.
8.FREQUENTLYASKEDQUESTIONS(FAQ)
Q1.WhyshouldIinvestin
A1:ThereisawiderangeofreasonswhyZambiaisthebestlocationforyourinvestment.
Someoftheseinclude:
1.Stablepoliticalsystemnocivilstrifesince1964;
2.Apositiveandinvestorfriendlyeconomicenvironment;
3.Investmentguaranteesandsecurities;
4.Attractiveinvestmentincentives;
5.Progressivebanking,legalandinsuranceservicesofinternationalstandardsaswell
asastockexchange;
6.Abundantnaturalresourcespresentingexcellentinvestmentandtradeopportunities;
7.Duty-freeaccesstoregional,widerAfrica,EUandUSAmarkets;
8.Thrivingprivatesector;
9.Repatriationof100%ofprofitsandnoexchangecontrols;and
10.Goodplacetoworkandlive.
8.1AcquisitionofCertificateofRegistrationProcess
Q2.WhatdoIneedinordertoapplyforanCertificateofRegistration?
A2:FiguringoutwhatyouneedtoapplyforyourCertificateofRegistrationcanbevery
confusing.Forthisreseanswehaveprovidedachecklistforyoutousewhenassembling
yourapplicationpacket.ThischecklistcanbefoundasAnnex1atthebackofthis
document.Shouldyouneedanyfurtherinformation,pleasecontactourofficebyphoneor
inpersonandandIPOwillassistyouwithyourapplicationdocuments.
Q3.WhattypeofinformationshouldIincludeinmyproposal?
A3:AccordingtoZambiaDevelopmentAgency(ZDA)ActNo.11of2006,youshould
includeinyourproposal,aclearandconcisestatementonhowyourenterprise,if
approvedislikelytocontributetothecountry’seconomicgrowthanddevelopment.
Q4.HowmuchwillIneedtopayinordertoapplyandreceivemyCertificateof
Registration?
A4:First,whensubmittingyourapplicationyouwillneedtopayanon-refundable
processingfeeofK1,280.00.Onceyourapplicationhasbeenapprovedandyour
investmentlicenseissued,youwillneedtopayanadditionalfeeofK7,670.00toreceive
thelicense.
Q5.HowlongwillittakeformetoreceivemyCertificateofRegistration?
A5:Onceyouhavesubmittedyourcompletedapplication,andassumingthatyour
proposalanddetailsmeetalltheminimumrequirements,theprocedureshouldtake72
hourstocomplete.
Q6.Howmanyforeignworkersismycompanyallowedtohaveworkingin
A6:Thereisnolimittothenumberofforeignworkersthatyourcompanycanbringinas
longastheexpertiseoftheworkerscanbejustified.TheZDAActprovidesforfacilitation
ofaninitialfive(5)justifiableEmploymentpermits.
Q7.Howlongdoesittaketoincorporateacompanyin
A7:Itusuallytakes24-72hourstoincorporateacompanyin
8.2ImmigrationIssues
Q8.DoIneedavisatocometo
A8:Itdependsonyourcountryoforigin,howevermostCommonwealthcountriesdonot
requirevisasastheseareissuedattheportofentry.Pleaserefertothe
immigrationwebsiteformoreinformationwww.zambiaimmigration.gov.zm,however,
ZDAfacilitatesforvisaapplicationsandisinapositiontoadviseyouonwhetheryou
willrequireavisaornot.Pleasecontactorvisitusformoreinformation.
Q9.Canaforeignshareholderinmycompanymigrateforbusinesspurposesto
A9:Yes.AsaforeignshareholderofaZambiancompany,yourshareholderisentitledto
anInvestor’sPermit.Inordertodothistheshareholderwillneedtosubmitthenecessary
formsanddocuments,whicharelistedbelow:
OnecompletedApplicationForm;
Oneapplicationletterfromcompanyonbehalfofthecandidate;
Thecompany’sCertificateofIncorporation;
Onecertificateofsharecapital;
ProofofFinance(BankTransfers,CustomsFormCE20)
Onephotocopyoftheshareholder’spassport;
Twopassportsizedphotos
Policeclearancecertificatesfromcountryoforigin.
8.3InitialFundsandFinancing
Q10.Isthereaminimumamountofinvestmentrequired?
A10:No.Thereisnominimuminvestmentrequirementforyoutoinvestin
However,ifyouwishtoreceiveEmploymentpermitsorInvestorspermits,youwillneed
toinvestatleastUS$250,000.Also,ifyouwouldliketoqualifyforspecialtaxincentives,
youwillneedtoinvestatleastUS$500,000.
Q11.DoIhavetotransferfundsintoaZambianbankaccountformetodobusinessin
A11:Yes.Itisarequiredthatverifiableevidenceoftransferredfinancesbesubmittedto
TheImmigrationDepartmentuponsubmissionofapplicationfortheInvestorsPermit.
Pleaseattachbanktransferdocumentsfromyourlocalbankorinthecaseofequipment
andmachinery,ZRACustomsformCE20willsuffice.
Q12.Arethereanyinternationalbanksin
A12:Yes.WehaveawiderangeofhighqualityinternationalbanksincludingStandard
CharteredBank,StanbicBank,BarclaysBank,Ecobank,Accessbank,FirstNational
BankandtheUnitedBankforAfrica(UBA).
8.4InvestmentPromotionandProtectionAgreements(IPPA)
Q13.WhatisanInvestmentPromotionandProtectionAgreement(IPPA)?
A13:Itisprimarilyatoolusedtopromoteinvestments,aswellasguaranteeprotection
ofthatinvestment.AnIPPAisnegotiatedandsignedinaccordancewithSection17jof
theZDAActNo.11of2006.ThebenefitsofanIPPAarethat:
Itguaranteestheprotectionoftheinvestments;
ItalsoguaranteesthatZDAwillfacilitatetheinvestment.
Q14.HowdoIapplyforanIPPAandwhatistheprocess?Martinetpleaseupdatethispart
A14:WhenapplyingforanIPPA,youwillneedtomakeanapplicationtotheDirector
General,ZDA,indicatingyourdesiretonegotiateandsignanIPPAandabriefofwhat
theprojectis,howmuchisbeinginvested,andexpectedemployment.
Thenegotiationsareinfourparts.Atthefirstmeeting,apresentationismade
outliningwhattheprojectis,atthispointyoucangiveasmuchdetailofthe
projectasyouwantsothattheIPPAtechnicalcommitteecanunderstandand
appreciatetheproject.
Secondly,thelegalsubcommitteeisconvenedtodiscussandnegotiatethelegal
document/agreement
Thethirdmeetingisthelocalbusinessdevelopmentsubcommittee,wheretheclient
outlineswhatthebenefitstothecommunityinwhichitwillbelocatedoroperating
inwillbe,aswellasyourcorporatesocialresponsibilitycommitments.
Thefinalmeetingisthelaborsubcommitteemeeting;hereyououtlineyour
employmentandtraining/technologytransferplans.
8.5ApplyingforIncentives
Q15.WhatincentivescanIreceiveasaninvestorsin
A15:Asaninvestorlocatedin
includingincometaxholidays,taxmoratoriumsondividendsforasetperiod,exemption
fromcostumsdutiesaswellasotherbenefits.Toseecompletedetailsonallofthese
sections,pleaselookatBox1:BenefitsofHoldingaCoRinSection4ofthisdocument.
PleasekeepinmindthatthisrequiresaninvestmentofnolessthanUS$500,000.
Q16.Howlongaretheincentivesvalidfor?
A16:Yourcustomsdutyincentiveisvalidfor5years.Ontheotherhand,yourincometax
incentiveisvalidfor10yearsstartingfromthefirstyearyourinvestmentisprofitable.
Q17.Whatarethestepsforapplyingforcustomsdutyexemptionsonmycapitalequipment
andmachinery?
A17:Fillinacustomsapplicationtablethatwillbegiventoyoueitherinhardor
electronicformbyyourresponsibleIPO.ThetablecanbefoundasAnnex4attheback
ofthisdocument.Shouldyouneedanyfurtherinformation,pleasecontactourofficeby
phoneorinpersonandandIPOwillassistyouwithyourapplicationdocuments.
Filltheformindetail,item,intendeduse,HSScodesandcurrentapplicable
duties.
Submitinelectronicorhardcopyofcustomsapplicationformtotheresponsible
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