INVESTMENT
SUDAN-Investment-Prospectus-2021.pdf
Sudan has many advantages to attract foreign investment. Sudan is classified as number two of the most attractive countries for investment in Africa and as number three in the Arab region. Acknowledging the importance of investment to boost the economy and to realize direct development, the government established the Ministry of Investment in 2002.
The Sudanese investment Act of 2013 is one of the best laws of investment in the area.
The law provides for:
• Non discriminatory treatment of the capital of investment, whether be it public, private, cooperative or multi-sector capital.
• The project of investment enjoys all privileges and would have all guarantees: not to be nationalized, confiscated or ex-appropriated except through a law and against indemnity.
• The money of the project shall not be confiscated or frozen, except through a judicial order.
• The investor has the right to transfer his money, in case the project was not implemented, and is entitled to transfer the profits, financing cost to import raw materials and to export products.
• The project of investment is also exempted from tax of business profits for a term of not less than 10 years and will given a free piece of land for the project or at an incentive price, beside custom privileges for cars.
Why Investing in Sudan?
Following the signing of Comprehensive Peace Agreement (CPA) Sudan becomes among the states that attract foreign investment. The following factors encourage the investment process:
• Stability of political, security, social economic and legal situation as stable policies provide a convenient climate for investment.
• Socio-economic plans and clear-cut policies stated in the National Strategy for 2005-2029 and phasing devdopment programmes.
• Adoption of a new concept for encouraging foreign investment and the state is moving towards free economy and privatization in all fields to activate and encourage participation of private sector in socio-economic development.
• Simplification of investment procedures, provision of facilities, guarantees of incentives for investors and the invested capitals.
• Flexibility in dealing with foreign currency, pricing policies and removing of any obstacles hindering internal or external trade transactions.
• The presence of national resources, arable lands, water resources, diversity of climate, animal resources, and vast-natural pastures, in addition to mineral, oil and reserved resources yet to be exploited.
• Wide oppportunities for investment in agriculture, industry, mining and economic services such as transport, storage a infrastructure.
• The availability of qualified cadres in sectors of agriculture, industry, mining and economic service.
• The presence of a well-established banking system and banking services extending all over the country in addition to specialized banks to boost investment and development in various fields.
• The unique location of Sudan at the middle of the continent makes Sudan the centre of markets to supply neighbouring markets with goods and services.
Investment procedures
Investment procedures vary from one industry to the other, the main investment profiles available are a sole ownership, a partnership or foreign company branch. Please contact the embassy if you require information on investment procedures. General requirements are listed below:
Business registration procedures
– Application addressed to the commercial registrar on the proposed name
– Contract and regulations of the establishment of company
After initial approval is secured the following is required:
– Preparation of the company headquarters
– Provision of three copies of establishment regulation sealed from the tax and zakat chamber
– Completing form no. (12) concerning the company’s capital
– Completing the approval form
– Completing the Judiciary form (publication form)
Registration of a branch of a foreign company
– Submitting an ‘application of registration’ to the commercial registrar
– Providing the contract of association and regulations of the parent company
– Submitting a registration list or documents of establishing the parent company
– A documented authorization from the company to a person resident in Sudan to receive judiciary notification.
– Resolution of the Board of Directors of the parent company to start a branch in Sudan
– Having all documents authenticated by The Ministry of Foreign Affairs of the investing country or the Sudanese embassy in the country of registration.
Registration of business name
– Submission of application on the proposed names
– Completing the business name registration form and having it notarized by a lawyer.
– Bringing the approval of the competent authority.
– Upon the completion of the previous measures, the applicant delivers two incorporation certificates in Arabic and English signed by the business names registrar and bearing the seal of the general commercial registrar.
Registration of foreign capital
– Contract of establishment of the company – in the case of the affiliation of the project to a company.
– Registration certificate of the company.
– Business name of the company.
– License of the investment.
In the case of financial capital
a- A document proving the transfer of the amount from abroad.
b- The declarations of the exchange to the local currency.
In the case of the capital in-kind
– Import certificates for the machines, equipment and devices
In the case of the service capital
– Certified lists of the paid amounts, approved by a resident Sudanese legal auditor.
Registration of exporters and importers
– The final license of the investment
– The business name
– The membership of the industry and trade chamber
– Testimony from the bank concerning the project account number
– In the case of companies: the memorandum of association; the incorporation certificate documented from the registrar of the companies.
– In case of the renewal of the log of the companies and cooperative societies, institutions and bodies, and submitting deposits made through the office of the Ministry of Justice.
– The commercial license for individuals of the current year for the purpose of import and export must be renewed.