Simplification of the Incorporation Process of Companies in Angola

Abstract

On the 17th of June 2015, the Law of Simplification of the Incorporation Process of Companies (hereinafter the “Simplification Law”) was published. The main goal of this legal diploma, which has entered into force on the date of its publication (article 28 of the Simplification Law), is to reduce the formalities inherent to various aspects related to the incorporation of companies.

Is it worth to mention that Angola has been systematically poorly classified in the ranking of the Doing Business Report drafted by the World Bank, being considered one of the countries that raises more difficulties to the incorporation of companies. An undesirable formalism in the daily acts of a company, an excessive bureucratisation with regard to the number of entities involved in the incorporation process and the number of inherent registries, have been pointed out. The enactment of the Simplification Law shows that the Angolan Executive is engaged with the modernization of the companies’ incorporation and operation process, aiming at simplifying the day-by-day of a trader.

Keywords: commercial law; company law; companies; Angola