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Law Governing Investments in São Tomé and Principe
Chapter II: Investment Guarantees
The following guarantees are provided to private investors:
- Importation of Goods: Investors have the right to import goods from abroad.
- Autonomous Export: Investors can autonomously export products produced by them.
- Protection of Industrial Property and Intellectual Creation: The law protects industrial property and intellectual creation of investors.
- Possession, Use, and Titled Enjoyment of Land: Investors have the right to possess, use, and enjoy land and other domain resources.
- Non-interference in Management of Private Enterprises: The government will not interfere in the management of private enterprises, except in cases provided for by law.
Article 17: International Agreements
The provisions of this Code do not restrict any guarantees and advantages contemplated in international agreements or treaties to which São Tomé and Principe is a signatory.
Chapter IV: Capital Transfers and Access to Other Facilities
Article 18: Transfer of Profits, Dividends, and Income
The following conditions apply to the transfer of profits, dividends, and other income from investments:
- Guarantee: The right to transfer abroad is guaranteed after implementation of the investment project.
- Conditions for Transfer: Conditions for transfer include payment of taxes due on the capital invested.
- Proceeds of Liquidation: Proceeds of liquidation, including capital gains, can be transferred abroad after paying taxes.
Chapter V: Duties of the Investor
The following are the duties of investors:
- Compliance with Law and Regulations: Investors must comply with this law and other applicable laws and regulations in force.
- Specific Duties:
- Respect deadlines for importation of capital and implementation of investment projects.
- Promote training and training of São Tomé workforce.
- Respect principles of equality and non-discrimination.
- Comply with payment of taxes and other contributions.
- Apply accounting rules established by law.
- Comply with environmental protection, hygiene, and safety regulations.
Chapter VI: Incentives
The following incentives are provided to investment projects:
- Tax Incentives: Investment projects benefit from tax incentives provided for in the Tax Benefits Code.
- Irrevocability of Incentives: Incentives are irrevocable for the duration of the incentives, except in cases where offenses have been committed.
Title III: Investment Admissibility Process
Chapter I: Application Process
All private investment projects are subject to an Administrative Investment Agreement. The investor must fill in a technical form to prepare the agreement.