Expand Business in Angola
Global Upside helps businesses expand into Angola by providing talent acquisition, human resources, accounting, payroll, tax, incorporation, and professional employer organization (PEO)/employer of record (EOR) services. Our comprehensive offerings create an end-to-end solution that helps you establish your business and optimize your operations, all while maintaining compliance with Angolan laws and regulations.
The hiring and incorporation processes in Angola are often complex, time-consuming, and involve numerous legal and compliance challenges. Global Upside simplifies these processes and lifts the compliance burden from your business. Our teams have the experience and expertise required to help you establish a legal entity in Angola. We also offer PEO/EOR solutions to companies interested in hiring employees quickly, without setting up a legal entity in the country.
Situated on the west coast of Southern Africa, Angola’s economy mainly relies on its oil sector and the nation is the second-largest oil producer in Africa. The major import items of Angola are special-purpose ships, gas turbines, rice, and poultry meat.
- Angola ranks as the 65th largest economy in the world in terms of nominal GDP.
- Angola ranks as the 7th largest economy in Africa.
- Angola is the 3rd biggest diamond producer in Africa.
- Angola ranks as one of the 11th largest OPEC oil producers in the world.
Options for setting up a legal entity in Angola include:
A limited liability company, also known as Sociedade por quotas de responsabilidade limitada (LDA), is the most preferred form of a business entity set up in Angola wherein the investors are jointly liable for their shared contributions. This kind of business establishment requires at least 2 investors.
A public limited company, also referred to as Sociedade anonima (SA), is a form of establishment that needs a minimum of 5 investors and a 3-member board of auditors.
A branch office is a form of a legal entity set up whose operations are defined by the parent company. There is an independent administrative team and a corporate bank account based in Angola.
It takes a minimum of four to five months to establish a legal entity set up in Angola.
In Angola, all aspects of an employment bond are administered by the General Labor Law, which was enacted in 2015.
Other laws that govern employment contracts are the:
- Law on the Right to Collective Bargaining
- Trade Union Law
- Regulations on the Exercise of Professional Activities by Foreign Non-Resident Employees
The terms that need to be stipulated in an Angolan employment contract are:
- Name and address of the employer
- Name and address of the employee
- Job description and location
- Working hours
- Payroll cycle and mode of payment
- Details of benefits
- Termination policies
The payroll frequency, in Angola, is monthly.
There are a mandatory 13th and 14th-month salary which is each half of the employee’s regular monthly salary.
The 13th salary is a vacation bonus that needs to be paid before a vacation is taken and the 14th salary is paid before Christmas.
In Angola, all organizations have to prepare their financial reports according to the Angolan General Accounting Plan (PGCA) and the Angolan Accounting Law.
The laws that govern data privacy and protection concerns in Angola are the:
- “Data Protection Law (Law no. 22/11, 17 June 2011)”
- “Electronic Communications and Information Society Services Law (Law no. 23/11, 20 June 2011)”
- “Protection of Information Systems and Networks Law (Law no. 7/17, 16 February 2017)”
Anti-Bribery & Anti-Corruption Law
The Australian Criminal Code prohibits bribery of Commonwealth and foreign officials under Divisions 70, 141-142.
1. Bribery of Public Officials
i) Imprisonment for a minimum of 1 year up to 5 years
i) Monetary fine
ii) Closing down the entity