A glance at Democratic Republic of Congo (DRC)
DRC is a country located in Central Africa., bordered to the northwest by the Republic of the Congo, to the north by the Central African Republic, to the northeast by South Sudan, to the east by Uganda, Rwanda and Burundi, and by Tanzania (across Lake Tanganyika).
DRC is one of the biggest countries on the African continent. The country is rich in numerous minerals and natural resources.
Population 87,051,558 million people
Total area of 2.345 million km²
GDP 45.00 USD Billion
Currency Congolese franc
Language French, Swahili, English
Minimum capital requirement $200,000.
It takes 3-7 days to process working visa.
Starting a business in Democratic Republic of Congo.
Register with the Commercial Registry, the tax administration the National Institute for Social Security (INSS) and declare the establishment of the company with the Ministry of Labor Agency.
At the One stop shop, companies fill in a form in order to register with the Commercial Registry, the tax administration, the Ministry of Labor and the National Institute for Social Security (INSS).
The following documents needed:
Passport (one copy).
Articles of Association.
Police criminal record.
Declaration of conformity to the law, dated and signed by each founder.
Letter addressed to the divisional clerk of the Commercial Court .
Doing business in DR Congo.
Congo is one of the countries where doing business is a bit easy and the procedure is not that long. It takes 3-7 days to process working visas, company certificates, Residence permits. In addition to that all Investors around the globe are welcomed to invest in DR Congo with open hands.
Investment opportunities in DR Congo .
Why to invest in DR Congo ?
Huge domestic market, the giant nature of the country and the population gives an added advantage for investors since there products will get both local and neighboring market .In addition the country is strategically located in the central of Africa tis gives it access to the neighboring markets from the neighboring countries.
Immeasurable resources, DR Congo is rich in various minerals including copper, cobalt, silver, uranium, lead, zinc, cadmium, diamond, gold, tin tungsten, magnesium and even coltan. In addition the country has plenty of natural resources which has led to the diversification of the economy .
Improving basic infrastructure. The government is modernizing and refurbishing the infrastructure of the country. This has made the country an investment destination since there is ease in doing business across the country.
Liberalization of the energy sector. This has encouraged private investment in the fields of production, distribution and transportation of electricity. various major projects were launched including the construction of the Inga III power plant, which has a predicted capacity of 4,500 MW at a cost of $2 billion; the construction of Grand Inga, with a capacity of 39,000 MW at a cost of $60 billion.
There are many projects. All that’s left is the investment! So, What are You waiting for?
Labor.
Minimum wage 30$
Monthly salary 200$-600$
Land
Investors who want to sent up factories can lease land from the government. Certain incentives are offered according to the type of business one is establishing.
Taxation.
Principal Taxes Tax rate
Corporate income tax 35%
Turnover Tax (TOT) 1%
Income tax from Employment 2%%
With holding taxes 14%
Value added tax 16%
Dividend tax 20%
Utilities.
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 200 $.
Internet
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) per month 200$.
Telecommunication / call fees
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.23.
Investment Incentives in DR Congo.
Free movement of profits as long as one follows the right procedures. Investors are allowed to transfer their money from DRC to their countries .
Some sectors are exempted from paying some taxes in the first years of operation. This reduces the start up costs for investors who wish to invest in the country.
Exoneration from duties and taxes on export for all or part of finished products, carved or semi-carved in good conditions for the balance of payment.
Second hand heavy engines, ships and aircraft are allowed a total exemption.
Investors rights.
The Law provides and guarantees equal treatment to all national and foreign investors. No discrimination can thus be made between a Congolese investor and a foreign investor.
It also guarantees the freedom to transfer abroad without any restrictions, revenues, dividends and other earnings from investments made in the Democratic Republic of Congo.
The Democratic Republic of Congo is member of the ICSID (Convention of 18 March, 1965 on the Settlement of Investment Disputes between States and Nationals of other States). This legal instrument provides particularly for dispute resolution mechanisms consistent with business requirements and that focuses on amicable settlement and arbitration.
The Democratic Republic of Congo has signed several bilateral agreements for the promotion and reciprocal protection of investments with several partner countries including the United States of America, France, Belgium, Luxembourg, Germany, Greece, Sweden, Italy, Switzerland, China, South Korea, Republic of South Africa, Jordan, Israel, Egypt, etc.
