Foreign Investment

In case of Foreign Investment, it is referred to the Foreign Investment Law and the Ministry of Investment Promotion (MoIP) is responsible for its registration and issues Investment Certificates to the Foreign Investors or Joint Ventures whereas the Ministry of Trade, Industry & Tourism issues License to the new business with foreign investment on seeing Investment Certificate issued and as submitted by the Foreign Investors or Joint Investors (Foreigners and Citizens in Partnership).

The Ministry of Investment Promotion is responsible for approving and registering all foreign investments into Somaliland including national and foreigner joint ventures in accordance with Somaliland Foreign Investment Law No. 29/2004(& 2008). This Ministry issues investment approval certificates to the investors as per the current Foreign Investment Law and under laid conditions.  After getting such approval, the Applicant goes on to the process of the business licensing at the Ministry of Trade, Industry & Tourism.

 

Requirements for Foreign Investment Certificate

  1. The Foreign Investor have must have business in his home country or other countries;
  2. Investment must be friendly Environment and not against religion and values;
  3. The investment must be registered with the same name of his/her company;
  4. Applicant Foreign Investor must submit the following documents:
    • Applicant company registration certificate
    • Updated company profile
    • Company business plan
    • Bank Statement
  5. Complete Application Form;
  6. The Applicant will be referred to concerned institution for technical permission;
  7. Foreign Investment Certificate valid for 18 Months will be issued in an Approved Enterprise;

 

  1. Upon receipt of such Certificate, MOTIT will issue respective License;
  2. The Investor must start operation within the given duration;
  3. Any additional investment by the same investor, the investor must apply and seek approval in the same process;
  4. The Investor should submit new application if they want to invest in an enterprise other than the one registered Repatriation of capital and profit;