- April 11, 2023
- Posted by: admin
- Category: Zanzibar
PROCEDURES TO REGISTER A PROJECT WITH THE ZANZIBAR INVESTMENT PROMOTION AUTHORITY (ZIPA) IN ZANZIBAR.
The Zanzibar Investment Promotion Authority (ZIPA) is the government agency responsible for promoting and facilitating investment in the semi-autonomous region of Zanzibar, Tanzania. There are wide range investment opportunities from different sectors available in Zanzibar. These opportunities are available in Tourism, Manufacturing, Blue Economy, Energy, Agricultural, Real-estate development and others. ZIPA offers lucrative packages of incentives. These include fiscal and non-fiscal incentives for investments under Free Economic Zones, strategic investments and investments outside the Free Economic Zones.
To register a project with ZIPA, the following procedures must be followed:
- Pre-Registration: The first step in registering a project with ZIPA is to submit a pre-registration form. This form is available on the ZIPA website and should be completed with all relevant information about the proposed project, including the project location, project cost, and expected benefits to the community.
- Feasibility Study: After submitting the pre-registration form, the next step is to conduct a feasibility study. This study should be carried out by a qualified consultant and should provide detailed information on the technical, economic, financial, and environmental aspects of the project. The feasibility study should also include an analysis of the project’s potential impact on the local community.
- Application for Registration: Once the feasibility study is complete, the investor should submit an application for registration to ZIPA. The application should include the pre-registration form, the feasibility study, and any other relevant documents. The application should also include an Environmental Impact Assessment (EIA) report if the project is likely to have a significant impact on the environment. There are two stages to follow for applying investment certificate: The first stage is to fill investment intention form and submitted along with the concept note of the proposed investment project. Once the concept note is approved, the second stage is to provide the application form to the prospective investors for non-refundable fees of USD 200. A filled application form should be submitted to ZIPA, accompanied with the copies of the following documents:
- Ten (10) copies of Business Plan/Feasibility Study.
- Proof of availability of Fund.
- Copy of main pages of Passports, Passport size photographs, Curriculum Vitae (CV).
- Police Clearance Certificate of all Shareholders from country of residence and country of origin.
- Certificate of Incorporation.
- Memorandum and Article of Association.
- Receipt of payment done for application form.
- Any other document to support the application.
- Approval and Registration: Once the application is received, ZIPA will review it and, if all requirements have been met, approve the registration of the project. Upon approval, the investor will be issued with a certificate of registration, which will serve as proof that the project has been approved by the government.
- Monitoring and Evaluation: ZIPA will continue to monitor the project throughout its implementation to ensure that it is in compliance with all relevant laws and regulations. The investor will also be required to submit regular reports to ZIPA on the progress of the project.
In summary, to register a project with ZIPA, an investor must complete a pre-registration form, conduct a feasibility study, submit an application for registration, and receive approval from ZIPA. It is important to note that all projects must comply with the laws, regulations and guidelines of Zanzibar, Tanzania, and the East Africa Community.
It is important to seek the guidance of a qualified legal professional to ensure that the process is conducted in accordance with the law and to avoid any potential legal issues. ABC Attorneys has qualified lawyers who can help you in registering your Project with ZIPA in Zanzibar.