MAK Africa Legal

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…

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…

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…

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…

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.…

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.…

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…

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…

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.…

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…