New measures on foreign investments in Algeria

– All foreign investment can only be realized in a 49/51 partnership with Algerian investors. The 51% majority Algerian share can be represented by several Algerian partners or entities.
– Foreign investments in goods and services must register a Declaration of Investment with ANDI, the National Agency for Investment Development. 
– Foreign investors are exempt from VAT only when purchasing Algerian products or products that are not produced in Algeria.
– The CNI has the authority to grant, for a limited period not exceeding 5 years, exemptions or reduction of duties, taxes or charges, including VAT.
– An exemption period of 5 years on Corporate Tax is granted to companies that create over 100 jobs.
– Algerian importers must obtain a Tax Identification Number, NIF, from the Algerian Tax Administration in order to proceed with import activities.
– A letter of credit in the only way to pay for imports.  LC’s may only be opened with correspondent banks approved by Algerian banks.