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Angola

Editorial

Legal market overview

With oil production being Angola’s key economic driver and the main source of government revenue, the country’s economy has been hit hard by the volatile crude prices. Conditions led the central bank to devalue the national currency, the Angolan kwanza, and the government to launch a programme aimed at diversifying the resource-based economy.

In order to encourage locals to start businesses, a simplification law (Lei da Simplificação) was brought into force, with the aim of reducing barriers to the constitution of commercial companies. Legislation has been evolving rapidly since the implementation of the new Angolan constitution in 2010, keeping legal advisers busy; the new law on private investment (Lei do Investimento Privado), effective since August 2015, has been the subject of particular discussion and advice.

While foreign lawyers are not allowed to practise Angolan law, they do cooperate closely with local lawyers who receive training and qualifications abroad. Many local firms have a longstanding relationship with international law firms, mainly from Portugal on account of the shared language and legal system.

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