Investment Laws and Regulations
Investment Laws and Regulations
Investment Laws and Regulations (Sub-title under Trade and Investment)
The Gambia Investment and Export Promotion Agency Act 2015 and Regulations are the main law governing investment in The Gambia. The Act and Regulations provide guidance on investing in The Gambia and clearly indicate the priority sectors for the country, guarantees to investors, investment incentives eligibility criteria, procedures, the institutional framework and answers to questions that investors usually consider in making an investment decision.
- Environment Act 1994;
- Value Added Tax Act 2012;
- Business Registration Act 2004;
- National Environment Management Act – NEMA 1994;
- Hazardous Chemicals and Pesticide Control and Management Act 1994;
- EIA Guidelines;
- Environment Quality Standards Approved.
- The Gambia Investment and Export Promotion Agency Act 2015 and Regulations are the main law governing investment in The Gambia. The Act and Regulations provide guidance on investing in The Gambia and clearly indicate the priority sectors for the country, guarantees to investors, investment incentives eligibility criteria, procedures, the institutional framework and answers to questions that investors usually consider in making an investment decision.
Identify a project site
- Submit a project or fill out a screen form (obtained from NEA)
- NEA screens the proposal for potential environmental impacts
- An Environmental Impact Assessment is carried out
- A decision is made (Approved or Rejected)
This permit is issued for both residence and employment, and in connection with policies laid down by the Government. It is usually issued to skilled expatriates and owners of big business as follows.
- The Director of Immigration can only issue permits ‘B’ to a skill expatriate worker in the executive managerial and middle management position in accordance with the directives and instructions given from time to time through the expatriate quota allocation Board specifying Government’s Immigration Policy. In other words residential permit ’B’ can only be issued to a skilled expatriate worker if there is a quota position for him to occupy.
- Residential Permit for Dependants
The names and ages of the dependant or the holder of any residential permit shall be endorsed on the permit. Such names so endorsed shall be deemed to be in possession of residential permit. - Validity Of Residential Permit
All residential permits expire on the 31st December each year for example a permit issued on February 1st 2017 will expire on 31st December 2017. Please note that application forms can be obtained at a very minimal fee from the Ministry of Interior.
Risk Management and Dispute Resolution
- The Constitution of The Gambia guarantees and safeguards against nationalization and expropriation of investments. The Gambia Investment and Export Promotion Agency Act 2015 also contain provisions against expropriation of properties of investors.
- The Gambia is also a member of the International Centre for the Settlement of Investment Disputes (ICSID) and the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group.
Given the impact of global warming amongst other environmental degradation factors, The Gambia has adopted several measures to reduce the decline and to improve the environment. For this reason, any project that may have potential impact on the environment would be subject to an Environmental Impact Assessment (EIA) conducted by the National Environment Agency (NEA) before any license or permit is granted. These projects include hotels, roads, bridges, mining, large-scale agricultural projects, processing and manufacturing industries, fish processing, waste disposal, installation of electrical lines, etc.
- Apart from persons possessing special immigration status, all other immigrants require a residential and employment permit in order to reside and work in The Gambia
- Residential permit ‘B’ is the permit issued to experts, their spouses and children.
For ECOWAS Nationals – D10,000 per annum
For Non-ECOWAS Nationals – D40,000 per annum
Contact
The Gambia High Commission in Senegal-Dakar
Villa No. 128, Cite des Jeunes Cadres – Yoff Toundoup Rya, B.P 3248 Dakar, Republic of Senegal
Official Email: gambiaembassydakar@gmail.com
Official Telephone Contact : (+221) 33 820 11 98
Fax: (+221) 33 820 10 56
Official working hours
Monday – Thursday: 09:00hrs – 16:00hrs
Friday: 09:00hrs – 12:30hrs
Saturday, Sunday and Holidays: Closed