HOW A FOREIGNER MAY OBTAIN INVESTMENT CERTIFICATE IN RWANDA.(PROCEDURE FOR OBTANING INVESTMENT CERTIFICATE IN RWANDA)

HOW A FOREIGNER MAY OBTAIN INVESTMENT CERTIFICATE IN RWANDA.

(PROCEDURE FOR OBTANING INVESTMENT CERTIFICATE IN RWANDA)

Laws Applicable

• THE CONSTITUTION OF THE REPUBLIC OF RWANDA OF 2003, as amended to date
• LAW N° 006/2021 OF 05/02/2021 ON INVESTMENT PROMOTION AND FACILITATION
• LAW N°48/2018 OF 13/08/2018 ON ENVIRONMENT
• LAW N°57/2018 OF 13/08/2018 ON IMMIGRATION AND EMIGRATION IN RWANDA
• LAW N°06/01 of 29/05/2019 Ministerial Order relating to Immigration and Emigration
• Among others

 Investment certificate is a very vital document to any investor due to the benefits it accords,

 A foreigner cannot buy land in Rwanda without investment certificate.

Below is how one may obtain one in Rwanda

1. Consult with a transaction lawyer/advocate about your investment intentions for legal guidance and successful execution of the same.
2. Register a company/a business entity  in case you have not
3. Prepare a business investment plan or feasibility study which indicate:
   1. Name of the project with its detailed information
   1. Date of commencement of the project
   1. Action plan of the project
   1. Detailed information of any raw material obtained from the locality where the investment is situated or any part of Rwanda  
   1. Detailed information regarding any source of funding and assets to be sources from outside including timelines in which the same will be invested.
   1. Market survey
   1. Table indicate year income projections for the investment project
   1. Particulars of the projected technology and knowledge transfer
4. Apply for Environment Impact assessment certificate
5. Obtain the relevant license from the business sector that the investor intends to engage in.
6. Prepare application for investment certificate registration in writing addressed to the Chief executive officer of Rwanda Development Board(RDB). That application should contain;
7.  the name and address of the proposed business enterprise,
8. its legal form(certificate of incorporation of the business), The nature and volume of waste which shall be generated by the enterprise’s operations, and the proposed methods of its management,
9. Its bankers,
10. The name and address of each director or partner, as the case may be, and the name, address, nationality and shareholding of any shareholder, who is not a citizen of Rwanda,
11. The nature of the proposed business activity and the proposed location where that activity is to be carried,
12. The proposed capital structure, amount of investments and the projected growth,
13. The estimated number of persons to be employed and categories of jobs to be created,
14. The qualifications, experience, nationality and other relevant particulars of the project management and staff;
15. The incentives /support and facilitation the applicant seeks from RDB
16. Any other information relating to the viability of the project or other matter as the applicant considers relevant to his or her application.

• Make payment of investment certificate registration fee of $ 500 or its equivalent in Rwandan francs to the RDB account.
• Attach all the above documents and submit to RDB
• The Board will review the application for an investment certificate considering the documents on the file
•  if satisfied that the application is in accordance with the provisions of the Investment L aw it will make decision,   inform the applicant  and issue the certificate within two days of receiving the a complete file.
• Where an application does not provide all the relevant information or if clarification is necessary, then applicant may be called upon to provide that information or clarification to complete the application.
•  In the case of the Board refusing to grant investment certificate the applicant will be notified with reasons of the same within two days of the time of receiving complete file.
•  Obtain necessary work permit/Visa from Immigration of Rwanda in case you are foreigner

Note: Whereas the Author has taken necessary steps to ensure the accuracy of this article the same does not serve as an advice to a specific person.

Authored by OKUMU MARTIN

LLM (CANDI,) LLB, PGDLP(DIP LP),PCT OIL AND GAS LAW

Author is A regional transactions legal consultant (ADVOCATE) at

NOA REGIONAL ASSOCIATED ADVOCATES AND LEGAL CONSULTANTS EA

Email address: onlinetransactionconsultancy@gmail.com

Rwanda;+250787311255.

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