Procedure for getting Mineral Licence in Tanzania Who has the right to trade and/or export minerals? What are the permits required for exporting minerals? Note Mineral Opportunities available Note Big international companies that are involved in mineral prospecting include Setting Up Business in Tanzania Business…
1. Introduction A merger means an acquisition of shares, a business, or other assets, whether inside or outside Tanzania, resulting in the change of control of a business, part of a business, or an asset of a business in Tanzania. The Competition Rules of 2018…
INTRODUCTION. In Tanzania, Mining is one of the leading sectors with the value of mineral exports increasing each year. The leading minerals include gold, iron ore, nickel, copper, cobalt, silver, diamond, tanzanite, ruby, garnet, limestone, soda ash, gypsum, salt, phosphate, coal, uranium, gravel, graphite, sand…
Non-Citizens Can Continue Owning Land through Inheritance On 14th November 2019, the Written Laws (Miscellaneous Amendments) Bill 2019, Act No 8 of 2019 (the Bill) proposed to amend several laws including the Probate and Administration of Estates Act, Cap. 352 (the Act). The amendment to…
Legal System 1. What is the legal system in your jurisdiction based on (for example, civil law, common law, or a mixture of both)? The Tanzanian legal system has evolved largely based on English common law because of the British presence in the country from…
1. Forfeiture of Shares If a shareholder, who is called upon to pay any call fails to pay the amount, even after sending several reminders, the company may forfeit his shares. Forfeiture of shares results in a permanent reduction of the share capital. 2. Conditions…
Companies issue shares of stock or equity for various reasons, including to fund expansion or pay down debt. In this article, we’ll explore the various terms that are used in the process of issuing stock to raise capital. Share Capital Share capital consists of all funds…
1. Introduction A merger means an acquisition of shares, a business, or other assets, whether inside or outside Tanzania, resulting in the change of control of a business, part of a business, or an asset of a business in Tanzania. The Competition Rules of 2018…
Notification of a Merger: The FCC must be notified of any merger or acquisition in which there is a turnover of assets in excess of Tshs. 800,000,000 (approximately US$380,000). The notification must include basic corporate information and a merger/acquisition plan. After notification, the FCC has…
1.0 Introduction: On, 30th, December 2016, the Minister of State, Prime Minister’s Office, Policy, Parliamentary Affairs, Labour, Youth, Employment and Persons with Disability, published through the Government Notice No. 331, the Non-Citizens (Employment Regulations) Regulation, 2016 (herein referred to as the Regulations). The new Regulations…
What do you need to do when you want to start a business? Individual An individual whether resident or non-resident is required to visit a nearby Tanzania Revenue Authority (TRA) office (regional, district, or tax centers) and fill Tax Identification Number (TIN) application form to…
1. Introduction Export refers to the shipment of goods produced from one country to another. In a country of destination, an export becomes an import. Produce in this context refers to the manufacturing of goods from a country of origin. Export is a major component…
Share Transfer shall in no way be taken synonymously as the transmission of shares, the two terminologies are quite different from each other and refer to two different processes of transferring the ownership of shares in the company. Share Transfer is the process of transferring…
The ownership of a private limited company is determined by the shareholding of the Company. To induct new investors or transfer ownership of the Company, the share of the private limited company would have to be transferred. A private limited company is considered to be…
The strength of a land title in Tanzania may define the validity and security of an entire project, with significant implications on its bankability as a whole. Large areas of land in Tanzania are unsurveyed village land and foreign entities may want to access such…
Although the United Republic of Tanzania is a union between Tanzania Mainland (formerly Tanganyika) and Zanzibar, some matters do not fall within the ambit of the Union. Matters related to intellectual property, for instance, fall outside the scope of the jurisdiction of the union. Each…
This Q&A gives an overview of the key issues in establishing a business in Tanzania, including the available business vehicles and their applicable formalities; corporate governance structures and requirements; foreign investment incentives and restrictions; currency regulations; and tax and employment issues. To compare answers across…
1. Introduction Export refers to the shipment of goods produced from one country to another. In a country of destination, an export becomes an import. Produce in this context refers to the manufacturing of goods from a country of origin. Export is a major component…
In the wake of economic globalization, we continue to witness a flow of Foreign Investors into the United Republic of Tanzania. In Tanzania like in any other jurisdiction, the land remains the foremost vital natural resource and is most jealously guarded of all. Geographically Tanzania…
On the 14th day of May 2021, the Minister for Industry and Trade issued detailed procedures for submissions of information of beneficial owners vide the Companies (Beneficial Ownership) Regulations, 2021 (the Regulations). The Regulations impose a mandatory obligation for companies incorporated or registered under the…
The Written Laws (Miscellaneous Amendments) (No 3) Act 2021 brought with it some changes to the Companies Act 2002 (CAP 212). These changes include the followings; 1. Introduction of the requirement for a company to notify the Registrar of any transfer and transmission of…
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