Angola: Government Reviews Alteration to Commercial Code

Luanda — Cabinet Council discussed on Wednesday the proposals on laws to amend the Commercial Code and Bases for the Public Business Sector.

The Law scraps the obligation to legalise the book of minutes of commercial companies with the Commercial Registry Office, instead be conducted by the organs of the society itself.

According to a press release from 1st Ordinary Session of the Cabinet Council, chaired by President, João Lourenço, the change is intended to adapt the procedures related to the life of commercial companies to the pace of the national and international economy.

The goal is meant to improve the business environment, reducing bureaucracy and streamlining the setting up process of commercial companies.

The meeting also approved the creation of a single form to ensure the incorporation of companies in order to do away with the existing multiplicity of formalities in setting up a company with the Single Company Office.

The Executive reaffirms the commitment to encourage private investment - national and foreign - ensuring the reduction of the number of required procedures, placing the country among the best in the process of constituting a company and thus facilitating the business.

Wednesday session also approved a Presidential Decree that sets the amount of fees to be charged for services provided in the field of industrial property.

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