Angola SubsidiaryReading Time: 3 minutes
When your company is tasked with expanding to Angola, you have plenty of different factors to worry about on top of running your company. For example, you have to hire the right employees, add them to an Angola payroll, and make sure you provide compensation and benefits to stay compliant. If you expand the traditional way, you have to worry about all this on top of setting up your Angola subsidiary.
Globalization Partners makes it easier to expand across borders with Angola subsidiary outsourcing. As a global PEO, we can act as the Employer of Record and hire employees in Angola on your behalf using our established subsidiary. When you choose us, you won’t have to worry about hiring, compensation, benefits, or even compliance — we’ll manage the risk so that you don’t have to.
How to Set up Your Angola Subsidiary
While Angola is generally friendly to foreign investment, some sectors require you to have a majority of Angolan shareholders to set up a company. When you’re learning how to set up your Angola subsidiary, we recommend looking at these factors and deciding the industry and type of business you’ll conduct before incorporating.
It’s also important to look at what location is best for you to incorporate in. Different cities or regions can have their own costs, availability, and Angola subsidiary laws. If you’re not familiar with the area, you should work with a professional who can help you find the location that’s friendliest to foreign subsidiaries.
Angola also allows companies to incorporate as one of several types of entities, including a limited liability company (LLC), branch office, or representative office. Every entity has its own advantages and disadvantages, but many companies decide to incorporate as an LLC because it gives them the most freedom to operate in Angola.
The steps to setting up your Angola subsidiary as an LLC include:
- Choosing a unique company name and picking up the relevant certificate
- Opening a local bank account, depositing your initial capital, and paying the registration fee
- Verifying your company documents at the Guiche Unico
- Obtaining the NIF at the Guiche Unico
- Notarizing your company draft documents and registering your company
- Obtaining a Commercial Operations Permit from the Ministry of Commerce
- Legalizing the inventory book with the Tax Office and the judge of the provincial court with jurisdiction over the area around your company’s headquarters
Angola Subsidiary Laws
LLCs have numerous Angola subsidiary laws that you have to follow to stay compliant. First, you need to meet the minimum capital requirement of $1,000. LLCs used to require at least two shareholders, who are limited in liability based on the amount they contribute to the company. However, the country recently passed a law allowing single-shareholder companies that can be either a natural or corporate person.
You also need a specific management structure to meet Angola’s subsidiary laws. LLCs require at least one manager who is a natural person with full legal capacity. The manager does not need to be a shareholder of the company. Once you have a manager, you need to elect a general meeting and board of directors. While you do not have to appoint an audit committee, you may be required to appoint a chartered accountant based on what you make each year.
Benefits of Establishing a Subsidiary
Establishing a subsidiary means you can finally start working in Angola. You can also receive benefits from incorporating as an LLC because it will protect your subsidiary and parent company. Your subsidiary will be independent of the parent company and can operate how it wants, while the parent company won’t have to worry about any costly litigation or other issues related to the subsidiary.
Remember, you can only receive these benefits after months of work trying to set up your Angola subsidiary. Globalization Partners offers Angola subsidiary outsourcing to make your expansion easier so you can get started right away. We’ll work hard to help you stay compliant with Angola subsidiary laws while we hire employees on your behalf, run your payroll, and more.
Everything You Need to Set up an Angola Subsidiary Successfully
Incorporating without the help of a global PEO requires a significant amount of time and money. You should make sure you work with the rest of your team to plan for the travel and costs involved. If you don’t have anyone on your team who understands the country’s tax codes, employment compliance laws, and more, you should work with an expert who can help you stay compliant.
Partner With Globalization Partners
Globalization Partners will help you start working in Angola quickly and without the risk. Contact us today to learn more about Angola subsidiary outsourcing.