IMPORTANT POINTS

Important Points (Legal and Procedural Prerequisites)

Requirements

1. Application for new investment permit duly signed by applicant or legally authorized agent
2. Where application is submitted by agent then verified copy of power of attorney
3. Copy of memorandum and article of association
4. Four ¾-inches size photographs (of general manager if applicant is a business organization; of the individual investor in other cases) taken within the last six months
5. Renewed Id or Passport Copy
6. Service Fee 600 Birr
7. Investment Visa
8. Authenticated Business Background Certificate
9. Business Proposal

Sole-Proprietorship

• Step 1: Collect information from Ethiopian Investment Commission (EIC) Information and Investment Promotion Department about requirements, incentives and etc.
• Step 2: Collect application form here Investment Permit Application Form or EIC information desk,
• Step 3: Submit filled and signed application form (by the investor or general manager or authorized person) together with previous business background (company profile), copy of valid passport, investment/ business visa to Licensing and Registration Department,
• Step 4: Collect bank letter from Licensing and Registration Department to get permission to open a foreign currency account at National Bank of Ethiopia.
• Step 5: Transfer/deposit cash in the opened company bank account,
• Step 6: Collect confirmation letter and credit advise from bank,
• Step 7: Submit two recent passport size photographs of the investor,
• Step 8: Collect investment permit certificate from Licensing and Registration Department.

Note:

All documents whose sources are outside of Ethiopia shall be:

• Authenticated by the concerned notary office and Ethiopian Embassy in the foreign country; and
• Authenticated and registered by the Ministry of Foreign Affairs of Ethiopia.

Documents to be Notarized and Authenticated

1. Memorandum of association and Article of Association
2. Certificate of origin
3. Minutes of resolution
4. Power of attorney

Others

• Business (investment) visa copy
• Passport size picture of the general manager

Minimum Capital Requirements

• For wholly foreign-owned company, the minimum capital requirement is 200,000 USD (USD 100.000 if it is architectural or engineering works or related technical consultancy services, technical testing, and analysis or in publishing)
• For joint venture company, the minimum capital requirement is 150,000 USD (USD 50.000 if it is architectural or engineering works or related technical consultancy services, technical testing and analysis or in publishing)

Private Limited Company

• Step 1: Collect application form here Investment Permit Application Form or from EIC Information Desk,
• Step 2: Collect sample memorandum and article of association, and information about requirements, incentives and etc. from Investment Promotion Directorate,
• Step 3: Submit filled and signed application form (by the investor or general manager or legally authorized person) along with previous business background (company profile), memorandum and article of association, copy of valid passport, and investment or business visa of each shareholder to Licensing and Registration Department, 

*In case a Company is a shareholder, the following additional documents shall be submitted:

In case of the foreign company: –

• Notarized legal certificate of incorporation;
• Notarized minutes of resolution passed by authorized organ of the parent company authorizing to invest in Ethiopia;
• Notarized document of its memorandum and articles of associations or similar documents of the parent company; and
• Notarized Power of attorney of the agent.

In case of the local company: –

• Copy of memorandum and articles of associations;
• Commercial certificate;
• Minutes of resolution passed by the shareholder’s; and
• Notarized power of attorney of the agent
• Step 4: fill and submit company name application form (available at information desk) with three proposed company names to check uniqueness of the company name.
• Step 5: Collect letter of clearance for unique company name from Licensing and Registration Department
• Step 6: Edit and authenticate memorandum and article of association in line with approved company name.
• Step 7: Collect bank letter from Licensing and Registration Department to get permission t o open foreign currency account from National Bank of Ethiopia.
• Step 8: Transfer/deposit cash in the specified company account.
• Step 9: Collect confirmation letter and credit advice from the bank.
• Step 10: submit authenticated lease agreement and TIN number.
• Step 11: submit five recent passport size photographs of the General Manager.
• Step 12: Collect investment permit certificate and commercial registration certificate from Licensing and Registration Department.

Share company or Joint venture

•    The requirement for PLC also applies for share company and joint venture.

Note:

All documents whose sources are outside of Ethiopia shall be:

• Authenticated by the concerned notary office and Ethiopian Embassy in the foreign country; and
• Authenticated and registered by the Ministry of Foreign Affairs of Ethiopia.

Documents to be Notarized and Authenticated

1. Memorandum of association and Article of Association
2. Certificate of origin
3. Minutes of resolution
4. Power of attorney

Others

• Business (investment) visa copy
• Passport size picture of the general manager

Minimum Capital Requirements

• For wholly foreign-owned company, the minimum capital requirement is 200,000 USD (USD 100.000 if it is architectural or engineering works or related technical consultancy services, technical testing, and analysis or in publishing)
• For joint venture company, the minimum capital requirement is 150,000 USD (USD 50.000 if it is architectural or engineering works or related technical consultancy services, technical testing and analysis or in publishing)

Branch /Multinational Company

• Step 1: Collect/download application form here Investment Permit Application Form or EIC information desk.
• Step 2: Submit filled application form with authenticated parent (mother) company documents and new company general manager’s valid passport and business or investment visa in Licensing and Registration Department.
• Step 3: Collect bank letter from Licensing and Registration Department to get permission to open foreign currency account from National Bank of Ethiopia.
• Step 4: Transfer/deposit cash in the specified company account.
• Step 5: Collect confirmation letter and credit advice from bank.
• Step 6: Collect investment permit certificate from Licensing and Registration Department.

Note:

All documents whose sources are outside of Ethiopia shall be:

• Authenticated by the concerned notary office and Ethiopian Embassy in the foreign country; and
• Authenticated and registered by the Ministry of Foreign Affairs of Ethiopia.

Documents to be Notarized and Authenticated

1. Memorandum of association and Article of Association
2. Certificate of origin
3. Minutes of resolution
4. Power of attorney

Others

• Business (investment) visa copy
• Passport size picture of the general manager

Minimum Capital Requirements

• For wholly foreign-owned company, the minimum capital requirement is 200,000 USD (USD 100.000 if it is architectural or engineering works or related technical consultancy services, technical testing, and analysis or in publishing)
• For joint venture company, the minimum capital requirement is 150,000 USD (USD 50.000 if it is architectural or engineering works or related technical consultancy services, technical testing and analysis or in publishing)