Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.
Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Angola. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected from World Bank: Doing Business
* Takes place simultaneously with another procedure.
This information was collected from World Bank: Doing Business
| No. | Procedure | Time to Complete | Associated Costs |
|---|---|---|---|
| 1 | Search for a unique company name and pick up the relevant certificate | 1 day | KZ 500 + KZ 24,090 |
| 2 | Deposit the legally required initial capital in a bank and obtain deposit evidence; pay the registration fee | 1 day | no charge |
| 3 | Verify the company documents at the Guichet Unico | 1 day | the fees are included in the company registration fees |
| 4 | Obtain NIF at Guichet Unico | 1 day | tax fees included in next procedure |
| 5 | Notarize company draft documents, register the company and pay registration fees at Guichet Unico | 4 days | 30,000 Kz Guichet Unico fees+ registration in the conservatoria 100002 Kz+ 12000 Kz statistics institute + 20000 Kz Impresa National ( fixed cost) + 10 Kz social security + 132730 Notary fees + 25595 Kz taxes fee |
| 6 | Obtain the Commercial Operations Permit from the Ministry of Commerce | 60 days | USD 1,000 |
| * 7 | Legalize the inventory and diary books with the Tax Office | 1 day (simulteneous with previous procedure) | USD 3 |
| * 8 | Legalize the inventory and diary books with the judge of the provincial court having jurisdiction over the area of the company’s headquarters | 1 day (simulteneous with previous procedure) | USD 20 |