Investiment: what to know
Investments are governed by the "Tanzania Investment Act" of 1997.
Tanzania Investment Centre
The government agency is mandated to coordinate, promote and
facilitate investment in Tanzania and provide necessary assistance to
the Government in the formulation of policy and investment issues.
It shall issued a "certificate of incentives" that certifies the official status as an investor in the country.
Firms wishing to invest in mining and oil are required to follow a specific procedure for obtaining the necessary permissions to carry out their activities, in accordance with the provisions of the Mining Act 1998 and Petroleum (Exploration and Production) Act, 1980.
The main functions of the Tanzania Investment Center are:
- promote the necessary measures to support a more favorable climate for investments;
- collect, analyze and disseminate information about investment opportunities for entrepreneurs, including the search for partners for joint ventures;
- assist investors in obtaining permits, authorizations, licenses and registrations that are necessary for their business;
- to find sites, properties or land on behalf of investors;
- know and explain the benefits and incentives provided by law;
- ndertake and support promotional activities to encourage and facilitate investment at the local level, as well as entrepreneurial development programs.
Certificate of Incentives
To obtain the certificate in question relate to "new projects, expansion or rehabilitation" shall be the following minimum capital invested:
- 300.000 dollars per for projects that belong entirely to foreign citizens or registered companies;
- 100.000 dollars for projects that belong entirely to Tanzanian citizens or companies registered locally and whose majority of shares owned by Tanzanian people.
The application of the "certificate of incentives," is granted with different benefits and incentives related to the economic sector of reference.