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To accompany the easing of the “49%-51% rule” (which required majority shareholding by Algerian local partners) amended (“LFC 2020”), except for strategic projects under international partnerships, such as hydrocarbons, mining, and natural resources, the Algerian Government adopted a new Investment Law No. 22-18 on 24 July, 2022 (the “Law”), published in Official Journal No. 50 of July 28, 2022. The new law introduces changes to the institutional framework, incentive regimes, conditions of eligibility for benefits and guarantees granted to investors.
The provisions of this law are intended to encourage investment with the aim to:
The New Investment Law specifies that the bodies in charge of investment in Algeria are:
Ø The National Investment Council (NIC) is responsible for providing strategic advice on investment, ensuring its overall coherence and assessing its implementation.
Ø The Algerian Investment Promotion Agency (AIPA), which replaces the National Investment Development Agency (ANDI), is a public institution entrusted with an information, facilitation, promotion, assistance, incentives management and investment follow-up mission undertaken by nationals or foreigners in the various economic activities. It basically acts as “a genuine promoter and guide for investors.” For more information Click here
Foreign investment (i.e., any investment whose share capital is owned in whole or in part by foreign individuals or legal entities) will be handled by the National One-Stop Shop in Algiers for large investment projects equal to or greater than 12 billion DA and foreign investment.
The first step will be to register an eligible investment in person on behalf of the investing entity or through the digital investor platform of the AAPI prior to its realization.