Investment Procedure Approval
Under the Investment Proclamation No. 280/2002, Article 12, foreign investors, foreign nationals (excluding Ethiopians by birth) taken for domestic investors, domestic investors investing in areas eligible for incentives and domestic & foreign investors making investments in partnership are required to obtain investment permits from the Ethiopian Investment Authority.
To qualify for investment permit, an investor is required to submit the following documents:
· completed application form obtained from the EIA;
· a project profile/business plan;
· a list of the type and quantity of machinery and equipment intended to be exempted from import duties and taxes;
· a draft memorandum and articles of association in the case of a business organization;
· in case of expansion or upgrading, a brief description of the same and its implementation programme;
· in case of planned employment of expatriate staff , with the exception of top management positions, a statement on the time and schedule for their replacement by Ethiopians and the training programme designed for such replacement; and
· a power of attorney in the case of submission of an application through an agent and other relevant information relating to the particulars of the project.
A foreign investor who intends to conclude a technology transfer agreement related to the investment will be required to submit a draft agreement to the Authority for approval and registration together with the application to investment permit. The EIA approves and gives an investment permit in 10 days if the above documents are received in full.
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