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Enforcement Orders regarding the new Algerian Investment Regime

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With the law No. 16-09 of 3rd August 2016 promoting investment, Algeria adopted a new core piece of legislation about investment (the “Investment Code”). 

The 2016 law repeals all of the Order No.01-03 of 20th August 2001 except its articles 6, 18 and 22, which deal with the National Investment Promotion Agency (“ANDI”) and the National Investment Council (“CNI”). The law also repeals the article 55 of the finance law for 2014. Said article 55 deals with the incentives in the event of a transfer of know-how to Algeria.

Following the adoption of the Investment Code and in order to implement some of its provisions, six (6) implementing decrees were published in the Official Journal No. 16 dated 8th March 2017.

They are the following ones:

- Executive decree No. 17-100 of 5 March 2017 amending the executive decree of 9 October 2006 on the powers, organisation and operation of the ANDI; 

- Executive decree No. 17-101 of 5 March 2017 setting negative lists, eligibility thresholds, and how incentives apply to the various types of investment. This executive decree notably sets (i) a negative list of the activities and goods, which are not eligible to investment incentives; and (ii) the thresholds to be reached to be entitled to the guarantee of transfer of the capital invested;

- Executive decree No. 17-102 of 5 March 2017 setting the modalities for registering an investment, as well as the form of such registration and the effects of the registration certificate relating thereto; 

- Executive decree No. 17-103 of 5 March 2017 setting the amount of fees that is payable in respect of the processing of investment files, and the modalities of collection of such fees;

- Executive decree No. 17-104 of 5 March 2017 on the follow-up of investment and on the applicable penalties for failing to comply with the obligations assumed and commitments made; and 

- Executive decree No. 17-105 of 5 March 2017 setting the modalities of application of the additional operating incentives granted in respect of investment creating more than a hundred (100) of jobs.

The decrees about the right of pre-emption by the State in the event of (i) the direct transfer of shares in an Algerian company, when a party to the transfer is a foreigner, and (ii) an indirect transfer of shares, have not been published yet. Neither has the decree, which will govern the transfer of the assets that form the operating assets. 

Please feel free to contact a member of the team below should you wish to discuss those decrees or to discuss investment law in Algeria in general.