Procedure for getting Mineral Licence in Tanzania

Procedure for getting Mineral Licence in Tanzania

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…

Procedural Aspects Of Mergers In Tanzania

Procedural Aspects Of Mergers In Tanzania

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…

THE PROCESS EXPORTATION OF MINERALS FROM TANZANIA

THE PROCESS EXPORTATION OF MINERALS FROM TANZANIA

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…

<strong>Legal Update</strong>

Legal Update

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…

<strong>Establishing a Business in Tanzania</strong>

Establishing a Business in Tanzania

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…

Forfeiture Of Shares, Conditions, And Procedure

Forfeiture Of Shares, Conditions, And Procedure

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…

<strong>How Do Share Capital and Paid-Up Capital Differ?</strong>

How Do Share Capital and Paid-Up Capital Differ?

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…

Procedural Aspects Of Mergers In Tanzania

Procedural Aspects Of Mergers In Tanzania

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…

Merger And Acquisition In Tanzania Law And Procedure

Merger And Acquisition In Tanzania Law And Procedure

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…

<strong>Resident Permit in Tanzania</strong>

Resident Permit in Tanzania

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…

Registration With Tax Authority When Starting A Business

Registration With Tax Authority When Starting A Business

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…

Law And Procedure Relating To The Exportation Of Minerals In Tanzania

Law And Procedure Relating To The Exportation Of Minerals In Tanzania

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 In Tanzania, Practice And Procedure

Share Transfer In Tanzania, Practice And Procedure

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…

Share Transfer Process In Tanzania

Share Transfer Process In Tanzania

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…

<strong>Land Acquisition in Tanzania: What a Foreign Investor Should Know</strong>

Land Acquisition in Tanzania: What a Foreign Investor Should Know

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…

Trademark Registration In Tanzania

Trademark Registration In Tanzania

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…

<strong>Doing Business in Tanzania, Questions and Answers</strong>

Doing Business in Tanzania, Questions and Answers

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…

Law and Practise Relating To Exportation

Law and Practise Relating To Exportation

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…

A Guide For Foreigners On Land Ownership Under The Laws Of Mainland Tanzania.

A Guide For Foreigners On Land Ownership Under The Laws Of Mainland Tanzania.

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…

Disclosure Of Beneficial Ownership

Disclosure Of Beneficial Ownership

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…

Changes In The Companies Act (2021)

Changes In The Companies Act (2021)

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…