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Regulation No. 474/2020
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RegulationPage........cscceeemsscerereeeer
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LRN RTC FFSG/RATE BEGULATION
NO,474/2020
PLATT PHC Lt PATA
tT 271 COUNCIL
OFMINISTERS
INVESTMENT
REGULATION
PULAPCT PRC Wb OAT APE bec ‘This Regulationis issuedby the Councilof Ministersof the
ANAPH/AATE ATPR VE FOA-ADPR (8) com Federal Democratic Republic of Ethiopia pursuant to Article
LUT £341 Aer ba: ; 55 Sub-Article (1) of the Investment Proclamation No.

1180/2020. |
PART ONE
NEAADE
GENERAL
mPpAA
1. Short Title
4.AEC
LU234)
Con
“PALAben} 254 ke GFG/eR
Te”|
This Regulation
may becitedas the “Investment
RegulationNo. 474/2020”.
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ep REE ’ aka a ie ee TS gR
PO te eA ese ea

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\Unit Price ‘ NegaritG. P.O.Box
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 (2762

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pe AUDA SE Abe Ie bee ee end RE CATE oye Federal Negart Gazette No.78. Sepetember2 3020 pure

2. Definitions
E. tc47%
PPA AM 4 eRe POLPAM hav? NeedePC In this Regulation, unless the context otherwise requires:

UY2 acer: |
1/ "Proclamation" means the Investment Proclamation No.
KB)
APR IA OPAL eoee APR
KAA
EWEN
LEyor? a 8 | ITRU/2020:= -

?/ Other words and phrases in this Regulation shall have

#/ Ow 2D ahr eA AAT PA AT het
the definition assigned to” them in the Proclamation
OAPS. Caer ad FCP BPA
PART TWO
_ha_v-At
' INVESTMENT AREAS
Phideo anhhy-
3. Investment Areas Reserved for Joint Investment: with
Fhow37 -T ? a a PTTor
the Government
ADA
ooTTT
ayeag QADAL
(ediebaAck
tacridtens}uns:
| Any investor may invest in the following investment areas

ayy Perna haweye OC Pepe ae only jomy with the Government,

PUPTAYE |

A/ Pent} oAELPEhH: PLETE AT AMC amy OPT | Manufacturing of weapons, ammunition and explosives

Pel
LPT OL
OTP
PE
CT: BOACL
,Naor,dT POLE
INDIA
te | used as weapons or to make weapons:

#/ PAA DRA OF AIC ater WATE AG Mek| 2 Import and export ofelectrical enerey,

aoe and}y:
3! International air transportservices.
P/ GA APH PARC PEPE AIA:

if A CeoFN OFA AG |
4) Bus rapid transit: and

t2 fh
eB PO AAT Pola
O 3/ Postal services excluding courier services,
AIA Ts

——

—
 TEAZIRE 12763
1k AFM IC a eee EL wht FH PY PATE aor
Federal
Negarit
Gazette
Nv.78,
Sepetember
2™2020
... paye
6. A 4, InvestmentAreasReserved
for DomesticInvestors
QAUAIA
PLATof}
AEFPALA} eursa.:- oaohhy
P-PhYS. PATA bowFt cohn
NAIC arf
Thefollowing
investment
areas
areexclusively
reserved
for
domestic investors:

a/ ATE TVAer wh? PPRITMO ADL UF

I/ Subject to applicable law, banking, insurance and
AT Presa OP FASTIN 2°63 APP C: microfinance businesses, excluding capital goods
PAF PALI OAS ADEE PRS finance business;

fPGo
PY
@/ LPL Phe
e PT-PS coho} PATCH 2/ Transmission and distribution of electrical energy

OPN “TAPAAG AD PFN4-d.AF through integratednational grid system:

i°/ 3/ Primary and middle level health services;

8) TAB
Pan
Rang?
AGCAB
ATeohhat
PCEE runes
VC: Alaa
ATERE
eT:
OAT
4/ Wholesale trade, petroleum petroleum products,
Pred h> Pel POF UPA oviips AGS wholesaleof own productsproducedin Ethiopia;
AIMVT
AANTCLR
Ahar
FILCF
7 Var
ORTPEP
coEee
Fe:
AERES excluding wholesaleof electroniccommerce
d3/
5/ Retail trade, excluding retail of and_electronic
orhit Pew
ANTCLN FV}
s Pe
ALP
PC VECFC
PEPCKoie}
Fe: AS commerce as provided under appropriate law, of own
productsproducedin Ethiopia;
hboW AT (eked) ALC PUL PP:
6/ Import
trade,excluding
liquefied
petroleum
gasand
bitumen:
Te (Ts Aels PPO AVAL PETS? “VOLS
7/ Exporttradeof raw coffee,khat,oil seeds,
pulses,
#2 NG Am: PLT 2 oak: Re: AS
minerals,hides and skins, productsof natural forest,
P27 care bles hale lleesnp}:
chicken,and livestock including pack animals bought
PomAh
war, Pk 3 3 onthe market; _

t/
wi
/ PAa-
NECR 6 NAT PUY PATH AG endee
8/ Construction and drilling servicesbelow Grade I;
AIATAET:

Phil ACHR PATad APC PUA: PAR:

9/ Hotel, lodge, resort, motel, guesthouse,and pension
PERC PIAL PATIA YEP AD PEAS
services,
excluding
those
thatarestar-designated;
AIAN ET

Pars AIG MhhePL PV PLEPCA Phd £28 10/Restaurant,

tearoom,
coffeeshops,
bars,nightclubs,
and
PONE RIAD ABC catering services,excluding star-designated national

PONE PALMA
PGMAfemanyp-As cuisine restaurant service;
PPA AT FP PPPS (“tbstT")
IAFAS-P
 [2764

VERZE =f. Fuileral..

Negarit
;Guzettc
No.78.Sepetember
2™
2020
-uipilge.
We KOR Wer On bee EL hh 84 td RTE aor
11/ Travel agency,travel ticket sales and trade auxiliary ~
TA) Pe obhALeR het Weer AT PIE RI!
ATA ET ! | Services:

12/ Tour operation,

1B) PNATT ATA
Tt
13/. Operating lease of equipments, machineries and
TP)Abo ALIROTE
POULLIAIA
NALcorrgeP
Tn
oneTy AT AR -PACHEP
RE VPage vehicles,
. excluding
© industry-specific
—heavy
equipments,machineriesandspecializedvehicles,
my eers THE AG PANCHCLT
eee
|
TAT
To) POR edie AP eC epee?| 14/ Transport services,excluding the following areas:

ATA T
Uv) PARE TENS Ot a) Railway transport:

A) PNA he TIF CT: b) Cable-car transport,

c) Cold-chain transport;
th) PHASER
D PEMACT:
d) Freight transport having a capacity of more than 25
on) WDoRE hy NAR. Penns AIP Paar eet |
tones; and
AAW: AT

wm)
heesot OPI?NAICarr ava ac) e) Transportservicesreservedfor joint investmentwith
the Government or domestic investors,
vd ATA Pat PREOIZCT
|
WIAD ET ‘
=

TH) WIC-PA WAR eS LETS roy eT: 15/ Making indigenous traditional medicines;

Ef ANIC a-AP WLEPOLPCOr

LAOAG ehh gk
r
oy Pls: , | 16) Producingbakery productsand pastriesfor domestic
market,

Th) Pave (let ATATOAT:

17/ Grinding malls:
7#/ gare VbAhA AG PRTES Ades ATA ET 18/ Barbershopand Seautysalon services,smithery,and

enbncitidsectAGAdIchRAE
COT
PNY
| tailoring except by garment factories;

PATIO Oat?
ii) Char@vage PIG AT OLAV awe PPIT AG 19/ Maintenance
and repair services,includingaircraft
ebeat AIAMeT USI PhS ALOT maintenancerepair and overhaul (MRO), but excluding
repair and maintenanceof heavy industry machineries |
EPL AG PUneeTmMAdePTr
TIT AG
|
and medical equipment,
OLVF APPL!

BR)Ohaeevad9726212 ALBeo harevar?| 29/ Aircraft ground handling and other related services.
era NIRS? Mak bePic ATA RT
 CHEERS 12765
1% Leen oer one eee ASah REPDRATE
or Federal
Negarit
Gazette
No.78,
Sepetember
2"2020
... page
Sa) Nha Pood ne 2rd PCa” vee AF 21/ Saw milling, timber manufacturing, and assembling of

PANTER PAT OFMEE Powe 2d! semi-finished wood products;

SE) PoeoISSUSD AIA

T 22/ Media services;

AE PPh AAATtATI Ts: 23/(Customs

clearance
service;
#5/ (leh AT atl PAT: 24/ Brick and block manufacturing;

RE PHA SK Pann 25/ Quarrying;

AE Phebe AT PACT CCS 2° PT 26/ Lottery and sports betting;

27/ Laundry services, excluding those provided on industrial

RHOATOACCLA cond PORT ABe PPC
PANAPRUEaohe, AAV
T scale;
28/ Translation and secretarial services;
L/P AT PRUETT
AAUP
TE
Ai) PPO WIA 29/ Security services;

30/ Brokerageservices;
GilPAA 29
F

Gh)PTET ATPATVOMNE
AIADET!AG 31/Attomey
and
legal
consultancy
services;
and
He) hers PUNCHdor! ATE TAPAPE APL
32/ Private employment agency services, excluding such
OATPee TAA PME COCAINETS AT Adet services for the employment of seafarers and other
benhap, aePhPEy heed 2C P999T T+ similar professionals
that requirehigh expertiseand
AIAN APAPC PVA 296 AT wate
internationalexperienceandnetwork.
PPT ET AAT

EAAIC wor RF AwoP QAVDET PPRET 5. Investment

AreasReservedfor JointInvestment
with
AGNboed+PHAMPhdtoott coh sy Domestic and ForeignInvestors
b/ °T'SFary? Pare = LAUT levi Act 1/ Any foreign investor may invest in the. following

PATIO} oohh yy NAIC ahr NAA) investment

areas
onlyjointlywitha domestic
investor:
20 DF PIED cow er 2TAAL
Vv) oh PAA AT PeeChtl=oFhaAs a)Freight
forwarding
andshipping
agency
services;
AWDACT
A) PAI ahT PAPC PEACH AIADET b) DDomestic
iret eamaed
air transport petits
service

ch) th 9% NAL. anponsy,Qatar Rofl c) Cross-country public transport service using buses with
PLAT AICARE PIM “Romany HIATT: a seatingcapacityof morethan45 passengers;
 [2766
CUA
AERY
Tk LMea Wer one ee GE ahd BE OD BATE oe Federal Negurit Gazette:Nu:78,Sepetember
2™2020. page

ao)Geb Pane.)Aye PharPhe?ard?Ph d) Urban mass transport service with large carrying

TEI ATA
T: capacity;

m) PU bake AG PVE AT AIA eT: e) Advertisement and promotion services:

f) Audiovisual services: motion picture and video

4) PSPR-OP
AA AITO: EPPO PAA AT
Ae oePAa: VAT AT NAT AT recording, production and distribution; and

A) PLL AT PAST 26 ts @) Accounting and Auditing services.

G/ OY APR FORA EPR (4) Abe

T 2/ A foreign investor jointly investing with a domestic

PALF] adit AP haw arar investor in areas listed under Sub-Article (1) of this Article

AULT (PRT Peer. Parekh AAT shall nat hold more than 49% of the share capital of the
ot
enterprise.
ec: Adar Peeve PEA LCV th Pi
(leone ANAT AL TAI? ®

3. Aa MAUIHEE
PUY
PATA
dt oohh
Tt| 6. Investment Areas Open to Foreign Investors
Investment areas not listed under Articles 3, 4 and 5
OY RID OAR EF: GAG & trbildieel act PA:
herein are open to foreign investors.
PA Oban FT aon Aare avd hast

o'Pars =

PART THREE
ASA Yat
INVESTMENT PERMIT, ACQUISITION OF EXISTING
aor yh £Pkr PAC 7 c
ENTERPRISE AND TRANSFER OF INVESTMENT
NPM AL PA hbo}
PROJECT UNDER IMPLEMENTATION
TCEET WTAE
amit 4 fc f FAT | 7. Applicationfor InvestmentPermitby
a Domesticand
Forcien Investor
£2 TP a

oysarg? PAI ahr NANT PASI

enTT In order to obtain investment permet, any domestic investor
EPL ATT Ave bIIG Pha PUG must fill out a paper-basedor online application form and

of PAARTCLR Teoh PR (lemma.

A-]° submit same to the appropriaic mvestment organ|
accompaniedby the following documents:
hevwbratT. Are
T aC
AMAT
PALHIAT OFT cone? LT PPA AAMT:
|

Af VowoAhFar PPa2llar Noha bv? PHO a-has | |f Where the application is filed by an agent, a copy of

POO EI Wk PH | valid authorization document:

@/ Ahitteo}b: eeRhysarAd hueyP2AAL-| Where the investment is to be made by a sole

foosore hee
DI PPO CT PR weg?
Gh aay AF a PACdboT?
6 ardT ! | proprietor,
acopyoftheindividual's
identity
cardoran
MUA atl Penh asoke HCL | identity card or other documents bestowing a domestic

apy Ade AVA PR AG WAT PPC investor status, and two recent passport photo size

photographs;
 TOWeeee ~— 12767

4 ABA Wer ae bre GEhte REPDRATEa

i) ALHidten
1: PLR EIS FONG
huey Federal
eenGarette
No.
78,
preemies
2020
...page
PII MTN Pavano, RelyGiPawel
4eae organization,a copyofits memorandum
of association
KIN AT PRIS PUI YAH were PB: and Articles of Association and commercial

OPI AADPERRI PPPSPPC AWDdb

> registrationcertificate;or where the business
PIT WA Penang
CF Hele
G AG organization is to be newly established, draft

Pond
ARGS
~RAN PACHA
ES TUNE memorandum of association and articles of association,

myoRl AC PR wo£9 PAI arte acopyofeach

shareholder's
identity
card
oridentity
VV adit PLAT aobabe hoe cardor otherdocuments
bestowing
a domesticinvestor
status, and two recent passportphote size photographs
OF9° AteT At PE: AG PII “TUL.
ofthe —generalmanager;,
PS hc ALE WAT PPC Db PTAC?
Ch aos PAPar 6IGee
Ty:
i) ALHIAen'}h-
hk:Pophyea-.(lews2y2} PACT) 4' Wheretheinvestment
is to be madeby a public
SCR ae lew epee AG PIA NC enterprise
orproject
company established under
AICTE NGAP VeEnt hwy LCPRk public-private partnership, a copy of the regulation or
decision by which it was established or a copy of its
OL PYCLN WOLar PbkPani(}y2FeAl
Memorandum of Association and “<Articles of
OLI° OR PA WLI? Pawan dF Raye AG
Association;
| Pooh 2g? Ly) PR:
\5/ Wherethe investmentis to be madeby a cooperative
tl AFA
FhE:
PLDLar (a ced WIC
WUP°PUNG
Poole
eeeRb PBs society,
a copy
ofits articles
of association.
8.Application for Investment Permit by _a_Foreign
&. lo- AUNT PLPCN PATNI 29
Investor
PTPe
A es l/ In order to obtain investment permit, any foreign
“VIFary? Yareih QAUAP| PACHAen"5) : =
investor must fill out a paper-based or online
EPS ATT AN ING PEND Ee@-F
application form and submit same to the
PAU O29 PAANTCLH YooAhF Pe
Commission accompanied. by the following
fleoomAT PCWrAT Ae 2G Aber
TT documents:
“PEA AAT:

VU) “VeoahFar PPollax OlotaA huey aor a) Where the application is-filed by an agent,

Parhagd eens F297, yk PE: a copyof

a validauthorization
document:

A) AHA}: PeRhyeer Add hed b) Wheretheinvestment

is to bemadeby a
PUAN “FH Peco AVA? | soleproprietor,
a copyof bio-pages
of a
PAPar PRS DAAC IT PEAS wat valid passportshowing his identity and
PPO WL PLAC Bk aon} PAE two recent passport photo— size
COPVG6.T | photographs;
 12768
; ah ae eh
bederal Negaril Gazette No.78,Sepetember
7 2020.,. page
AGA 120 ame det ee elt eo > RATE aac Se ——— —_—_— — = as_— EE

agiiat
ih) APE. Par AAU oohend $407 emery ©) Where the investment is to be made by an Ethiopian
VP gird larch AT PU Alea ee hs |
national permanently residing abroad who prelers
ae gare WIC TPA aor POLAR | treatment as a foreign investor, a copy of document
evidencing his permanent residence abroad and two
Are PE AG oa PPC Db POO
recentpassportphotosize photographs:
eet aoa) PVEareCODEC
T
d) Where the investment is to be made by a business
up) ALi bee}: pey ty ean Alek nar |
organization
to beincorporated
in Ethiopia:
deyeeye eRe MME TPs

(A) dabePPRIS MN ana ged Ady AG (1) Draft Memorandumof Associationand Articlesof
faba eae Fh PAPITATA PRINS Association of the businessorganization, a copy of

“HAC AA yee Pen e do aY bio-pazesof a valid passportof eachshareholder:

Wn PVEa PAS FAL CT 1 PR showinghis identity,andtwo recentpassport
photo
size photographsof the general managerof the
AS poe ME 2d ADLER AT
Cro Wh PAZ ET bh ent PAE a businessorganization:

Creer:
(8) (e2s ?Putls- oe AR AT arf | (2) Where the business organization has a foreign
national member who can be considered a domestic
Ave codienc. COMPA Pare Ib ha
investor, a copy of an identity card or other relevant
LEE POLLO
L oooh? UE wPL7?
Ad
Aree Pa C0XP PH,: = hy document establishing such status:

(3) Where there is a business organization in the

(®) eae “7s: war eee ad tA
businessorganization. a copy of its Memorandum
ena agli Pomme Rae AT
| of Association and Articles of Association or
Landy,
foeoLAkal £7rll ane. similar constitutive. document, commercial

gombkey ean: PE: ? " “1= ee

registration certificate and a copy of minutes of
rane wer AP PPR PIS Tihs resolution passedby authorized organ of the parent
every Paar HHA ATRAL arnT | “business organization resolving to engage in
ATi el fds janie] 1 investment activity in Ethiopia.

godt 2Ashds, PR:

mw) Aide: eeyvhyear ae ATC (leben e) Wheretheinvestment

is to be made.
by anEthiopian
ese MDI CATER POG TT | branchof a business
organization
incorporated
abroad:
 TR SEEN IO cay ees fee the BEY HATE 4ye PeduralNeuaritGazetteNu.78.Sepetember
23020. pase
Se a ee Ss eeea or 453= SS =. —i se SSS
Fey
(4) Ps PRIS pyle. Penenyo eif AIG: AG
Pane 2 ee LP (1} A copy of Memorandum
Of Association and
oe *[rerne)
“-P,
Articles of ASSOC
alions or similar constitulive
Pollen
e Aye pe AT ¢ ye Hu(le. = =a c 4 a = =
Pye AUT PPA ane} pe: as well as commercialregistration
(f) Peperpong. eve AONeR Phew]. hye
certificate
of theparent
business
organization:

PE AGSPPA a, WAT Prag) i-fe appointment of the

branch manager and his two recent Passport photo
ony PAL
ap
CPVGG
CEATS
g Ppa, size photographs,and a copy of bio-pagesof a
ACL CRS
Veh 999
Ce
sya, MANY Valid passport or ide nuLty
card
ofthemanager;
L4VFar pae
TAA Oh ay PR weg» | (3) A-copy of minutesof
Ree nde hese. PR: resolutionof theauthorized
(fF) ppg ¢FIRS PIS. “YONA OP organ of the parent business Orgy
Aa
AA 40 establish‘a branchbusinessOrganization
in
CATER!arlee
NATiAdeny}:Pe | Ethiopia;
Neenel Pay
y(hy PANG, PE:
“) AME WALA: hey Wh
. A..F9?517° COALS | 1) Documentevidencingthe financial Posittonor profile of

PETIA Asbyw
OLY 9%49, reyedy, Ine investor,
whendeemed
he investor.
when eemed
appropriate
¥ ththe
lateby
“WAR
| Commission,
I

R/ OULY
Ade TOA-ATPRA
(6) PPP yop
onBay.
NASTERP arope Pip
WET Aye ys PPA pep
2/ Décuments
underSub-
Article(
1)of thisArticleoriginating
APO AEP ap Paeeye en fromoutsideof Ethiopiamust be authenticatedby foreign
PAIC artp Alay and domestic bodies authorized to authenticate documents.
COZITP AAV Bays

B, A7N4.4.-- m.e,g° ATA A PRPCHy

LA TNA ban} g de- TPS

70d a # VAULT: FAH en'p- “74-4.

opyge
PALO ans} jay
“P40 Be and? (hy. 4 In order to obtdim investment CXPANSION
OF Uupgradi
VET Aue TIC Pb ary
PAUG: ooeeg PAA eh Poueatr PR permit,anyinvestormustfill out a Paper-based or
| online application form and submit same to the
enema hey
be
paq ey Oe ADV AAG:
| 4ppropriate investment
TPA AAI: Organ accompanied by the
followingdocuments:
5 ; sTeati: tate . 3
Al “MMA Far ere Mona huey ays ca
i | gua
1/ Where the 1
application js filed by an avent, a copy of .

POHAG zeaayy TEI ATS PB: KG

G/ OAD: ue Valid authorization

document: ana
ALHALen'
pI poy
tyy
gay,
WPI. MUNG
bw Re epune.res | 2 Two
recent
Passportphotosize photographsof the
AMLLE Pon ay WAT PAZ gop.
investor or, where the investment is made by a
OU LVF CORYEh:
business
Organization,
thegeneral
manager,
 ben Zee Federal Bigurit ChayeneMu PBsSepelouihas
ae Ay page
Aes oer ot be GEEpht AE PT ene oa —_ SS
=——[——————

7. than teot? 222 KANTAShn2er

lf Upon receipt of an application madein accordance
4/ AM Paar PALO
FT odd? OT with Articles 7, & or 9 of this Regulation. the
PAH
eT APE aodivr (iw Leth | appropriate invesiment organ shall, aller
AyeR ft: £2 ogg Po awed PIA
examiningthe proposedinvestmentactivity of the
APCaAT MAHI: AMER feb Rar investor in light of the Proclamation, this
enters 2d DAPH: Tw LIA AG
a)Regulation
Whereand
it approves
otherapplicable
the application,
laws: issue
AVN Haar AAT nee AAC

fJermern (>ern(?
:

UV) ena Fard tied (Ac a4, Par?

investment permit to the applicant or
ARATE we” ANAUIECASHIN
FT
b) investor
Where itright
rejects
away:
theor
application. notify the
AP BAMA OF
A) “geod tart tact (lA CATPOANTY
pyyee pear tePatlbhh Po epne ‘Au applicant or investor in writing of the
rs Eee lvl (0) Pare pel arivr reason for the rejection within three (3)
AAA oe AQAUILE AUS | working days from the date following the
ear Pax dateof application.
AMT Phar PATH eh ote? Ot | The appropriate investment organ shall, after
@/ 2/

PATO APS tien ai issuingthe investmentpermit,notify concerned

AANA 2ar bebA PeZenAhs Tard oehd£ institutions for necessary follow up

eter Par PAs

i°/ Prides BP
e ePAmar WAU 3/ A holder of an investment permit may not be

PAHs YCRED AMT + mpgdl required to obtain a business license until the

org AAT cota ANNeLEP COT Lb | commencement of production or rendering of

service upon completion of the project. The
sra0 Pre ft é.P 8 AP Poe
investment permit must, however. be renewed
ABmePyrs User (APR APR TA 70-0-
every vear as providedunderArticle [1 Sub-
AER (5) ERI Mar cour PAH beo hl
Article (1) of the Proclamation
22°89. (PAeods: aos 2) BCs As
An investment permit may not be transferred
RIO PAa PASHeT eel? (eT:
a/ without prior written approval of the appropriate
AUS Pe P&e PA eT APR
investment organ.
OPrAAG AP PAGeS |

PAHOTen
pT BPR AAA fae ArAAg | 45/ Where an investment permit is transferred to
oer OPE 42 ae Aarne Ake another person or where any change is made to its

content: it shall be submitted to the appropriate

AMM Adar PAHO
FT conde Nt
investmentorganfor approval.
PQ avogePk AAT
 TEMEEGA Federal Newaritt Gurette No.8, Sepetember7” 32020veyPLR Wr
Tt

TS.4/990C
90CSCH
SCE?
hr910weg PoC li. Acquisition of Existing Enterprise

lf A foreign investor seeking to buy an existing

SCE Ane

Aceyy PLEAD farepr NAVA PERO} enterprise or a share thereof must submit a paper-

based or online application to the Commission.

Aneyir 1A oF9° AADC PooAhF
ope) AAT

2/ The Commission, in reviewing an application filed

Petr OY APPR POAT (fb) comer
PLPCHNAT? TER Leman Vv Poa in accordance with Sub-Article (1) of this Article,

NC SCE woe ANAK TR AMA must ascertain that the enterprise is engaged in
investment areas open to foreign investors, and that
PUP WI Ere PAST
the minimum capital requirement provided in the
atk) Aare OAV PArhAnA gow?
Proclamation and other requirements laid down
APS NAPS. Pebeodirba: Peers trea
under the Commercial Revistration and Business
ans 92° AT WIR PUI AT dP
Licensing Proclamation and other applicable laws
APE AG AVA DAa AAT nat
are met.

Prodirk: WLP awIA Pay ICI1T

AANA

i/ iY APPR FOO-ATER (2) PERYTIO-

af Subject
totheprovision
of Slb-Article
(2)ofthis
AIRES "PE PIC LCE woes PAC Article, a foreign investor) applying to buy an

CCELT ANAM Aco PRLaOAnT farck ‘existingenterprise

or a sharethereofmustadduce
the necessaryclearance from the Ministry of Trade
NAVA NII AT ALPROTS oTLAkC
and Industry and the Ministry of Revenues,
ATS WMT nek dS.
AT
Or'
DAW VPA 2 COTA s | 4/ The Commission shall, after examining the request
in accordance with Sub-Articles (2) and (3) of this
a] bey Ay LY ADR WO-AGER (2) AG (i) Article:
tind) “JQeanatyFar'} (lamen(lavc:
a) Where it approvesthe application, replace
VU) VooaAlFa-> iePlAa PRUE 2d
the businesslicense or register the share
APs. OF Parr PebhA OP PANO
transfer right away; or
Yorars.7) PeoyygaAt weg?

A) Peary 1)hAdEilAar LAHPOANT b) Whereit rejectsthe application,notify the

Hee ANAUIE Pekar treba bd -investor in writing of the reason for the

par tidar be Fee aval (PF) eed rejection within three (3) working days from

PET are AU Pla PAs the date following the date of application.
 TENA GE
Tk AeA oer oe eee eS hh RE PS PATE og
=a — — FederalNeparitGuveteNo,78.Secpetembyr
zl ayy) voPile
i2.ntomne ae ¢ Choe Teen? == =<

12. Transfer
Implementation
l/Any investor
of who
Investment
wishes
to transfer
Project
to another
‘Ciide:
ATAAT f
BI PTI pds BPR NIV: Nd OPI AP,
CUTE PALIN TCE Aaa investor an Invesintent project under

NAVOT HVEAAD FOLLAT TFFa-y? VAD implementation for which a business license is not

rebar} ADV AdarPASH

en ante? yet issued must obtain the approval of the
wr NA OF" NAAN Tear appropriate investment organ by submitting a

IPA PPK AAs paper-based or online application.

E/ VAUAE
PALIN
CO
Fe YORES ACMErAAG 2 The investor shall, together with application for
LLP CN uaF 2 Pee rAay AAT approvalof the transferof an investmentproject,
ALLM WPCA AAT: submit the following documents:

VU) PRO PALIT enh 6 PR PR: a) A copy of renewed investment permit:

A) GATES Penomint) AG Pel

7p b) A copy of sale agreement registered with notary

27 Ohare AA Eben Peo public; and

APPT PH:
c) Where land was received for the project, a
ch) AVCRWE “MERLE OAM &Eehiax
copy of document showing that the land js
mat DA od: ATICEY PPA Ae
3/, The appropriate
transferred
investment
to the buyer.
organ,after examuningthe
PRs:

P/ AV Aare PAH en's-) wage tt

PPallar’} “PewaAieF (lanan(an(::
application, shall:
U)Feamal
Far} tredPlA ereLhd: a) Where it accepts the application, approve
“WV AAS3 OF. Pary Pd PRA?
the project transfer right away:
A) “oma Far) back? iiAar PA TPAD}
b) Where it rejects the application. notify the
PHILT AQDAUI: Fond lyFa-
investor in writing ofits decision for the
DPA bh PheraeUae. be Fyre’
rejection within three (3) working days from
avaAt (EB) Peed FS adr UR
the date following the dateof application
PeaysPaA:
:
 (ei
A¥
ee bEvts
* AMA eh he OE ya BED HITE ge
FederalNegantGavetteNoT8Sepetember
Fou pringte
AEA
Ader —
A TUDE REN
GE
SC oe
PATA
boothBPSPIII AGPAcINy | PROCEDURES
FORSUSPENSION
AND REVOCATION
Cot OF INVESTMENT PERMIT

IP
PATON
boott 2k Py bIeA CS} 13. Procedure for Suspensionof Investment Permit

4] FF urg? AU APR Ae rp l/ Where itis believed that an Investor has committed

any of the violations stated under Article 13 Sub-

fid-eosth # (AAD)Pred PS VANAG“Lib Arucle (1) of the Proclamation,he shall be given a

OOP AOA} PVE ACR AB OAe written warning notice by the appropriate
—
investment organ to take the necessary corrective
WLP PLL PA PA ESeer)
measures or furnish adequate response within a
TAIN AhanPATER} mae (a:| period not exceeding60 (sixty) working days.
PAUL NPE PAN AS

B/D APR WOON (BK) omer,

2/ Wherean investorwho has receiveda waming
“HUN! PLAZA AUT POLn(lbae'} |
notice under Sub-Article (1) of this Article fails to
vob be NARA apg AVN Eh ea
lake the required corrective measure or to submit
PPL Pla AT HAA Weel far adequate response, the appropriate investment
PALA Ss aha? a APR APR If organ may suspend the investment permit for the
FOO-AEPA
(8) AbRIMAFML PACH
ICAen} period provided in Article 13 Sub-ar icle (2) of the
AP5.F ALU PTAA | Proclamation.

iaLADO 2PL PVACUNE ~CS

14. Procedure for Revocation of Investment Permit
eee EE
Ai AIA Aa RASKIN EOF aonee 07:
[/ Before revoking an investment permit on the basis
AP |AbbR ch TOMAR (i) of grounds specified under Article 13 Sub-Article

boar PNET PAHOenpe gb

e (3) of the Proclamation,the appropriateinvestment

hemeicik
18 LAGACPHardpyar’ | organ shall notify the investor in writing of the
HTT AQVAUKE AUG Par PA: reasonsfor the impendingrevocationmeasure:the
NAVAE NSE AL PAaed Ath eRT (TE investor shall submit his written statement within

(ANd APT) Pee PET MOP RUS: [5 (fifteen) working days.

EP CAL AAAs

G/ML APR FORA PRD (4) anny

2/ The appropriate investment organ may revoke the
WSR? PLEA NAU 9°AT hada investment permit where the investor who received

WLI PAmaraAA bbe PAA hur| notification as per Sub-Article (1) of this Article

ADVAN LA PAH} annge 0.7 fails to respond or the response he provided is not
found acceptable.
PALAT BPH AAC PTAA:
 TeW.aeeR es

7% bid TETMU ATCEFrh FEOOTE aor

——e SSS
Federal
Negarit
SSS
Gazette
No.78,
Sepetember
2™
2070...
page
—————————————————————
AEA Ah PART FIVE
Pknvie® TIIC AT PRIN OF PoE PUT REGISTRATION OF TECHNOLOGY TRANSFER AND

COLLABORATION AGREEMENTS

lé, PéehTiee TIIC AP

RK
rh IS. Technology
Transfer
Agreement
B) VAPR ATER LE cwweh® Coven eEheak l/ A technologytransferagreementregistrationrequest
TIM APE PIAA Pee eobEAT made pursuant to Article 15 of the Proclamation
hall i i ine:
oor
A AAT: shallbeaccompanied
bythefollowing:

UO)
PENTA -hPNGBP
bddoe PemaDF a)Aniapplication
formstined
bythetechnology
Pa 3 recipient:

A) EnGieH be AT APelLa- eehha b) A copy of technology transfer agreement

PRAT AAT Romar) AF PVT concluded between the recipient and
eeeyy Aor Aba Pbeenal fgegeyt: technology provider and registered with
“PAL: u notary public;

ch) PENTOR PEA PRT LODE ged LPR c) A copy of valid businesslicenseor investment
OLI9?PALIN
yb APR PR: KF permit
ofthe technology
récipient;
and
wo) PENT Abela PFI FOUN oP? d) A copy of the commercial registration certificate

PII eee APR of ebAe 3 or businesslicenseor documentascertaining

ALTE F497, Aye PRs ownership of technology of the technology

ei , provider.
C/ (LY APPR FOA-ADPR (6) Petey 2/ Documentsunder Sub-Article (1) of this Article
ero ATER are PUR AdeCT originatingfrom outsideof Ethiopiamustbe
eee? PFI 2eaAn> 14a Parekh! AS authenticated by foreign and domestic bodies
PAIC arAP AHA ongo7p KAN Tar: authorized to authenticate documents.

P/ Peet. ML RPS POON

PEs (8) come, (i 3/_Uponreceiptof a complete
application
for—
Pg°9I90 “yam
A OLA Aeciay registration
in accordance
withSub
Article
-article
ANLALAM} 29 NPSL Md (AAA) Pod (1) of this Article, the Commissionshall pass a
PS aT Ode BAMA: decision within 30 (thirty) working days having
conducted the necessary review.

Of Dee PAPPee gud Pee beh llaA 4/ Wherethe Commission

approvethe request,it
Ae yeyl} (lermera
hi}4} PUT "WS Shallregister
theagreement
andissuea certificate
Ava ATE Pole * TP Rar’? Haha of registration
to theapplicant;whereit rejectsthe
a-jzor'? QAR AACPATE Pfar2PA= application, it shall notify the applicant of its
decision in writing.
 HAPS }2775

‘le AKA We eee Ge Veh aE RTLTE oe Federal Negarit Garette No.78, Sepeteniber2 20920 . paige

G/ DOT PETAR Re Agee bl 5§/The Commissionshall establishdetailedvuldeline

PLMOAINT: AHA Bil yee GAe7 for determining the appropriatenessof technology

LAA AR PN bard DAV

Far Pee 9 transfer agreement, for managing collaboration with

FOr 7 aa PIES AME Poy aod led: institutions having sectoral-expertisefor the purpose
of assessingtechnology content, and, as necessary.
APS ATER ANA rE Ak AR lebop.
for determining the conditions under which
Pod LOG AAP PFA UR) POLS
informational support may be provided to
MOU PAHeC cee PNA
technoloyy recipients.

12, hee FIL OC APP PH Por SCE PHA 16. Export-Oriented None-Equity-Based Foreign

oP pe ALT dar P72PLCTe PNAC Enterprise Collaboration

b/ APR APR Th come Pop PPRAPIC lf A collaboration agreement registration request

made pursuant to Article 16 of the Proclamation
Ore PM pee PeYbebAES 974-7

AAUHT::- shall be accompaniedby the following:

VU) NAN ater CAD Peden Gama

a) An application form signed by a domestic
ha
Investor:

A) “a9 arte OAR OAT (hoe b) A copy of a collaboration agreement

APTOTGPR
UMeothaA PRAT ADeORS between the domestic investor and a

Pama nr AG PIZOVE 2A OAar

‘ foreign enterprise registered with notary
AMA Cheon) PPA Ayegeeh Ape:
public:
PR:
c) A copy of a valid business license or
ch) PAD arte GAME PAD PRD ped.
investment permit of the domestic investor;
APKS ORI PALSTIOTaweBP ee PE: and
AG
d) A copy of the commercial registration
am) Paeen ALLY é- lL Cee ye-yypt) certificate or business license of the foreign
PPANC MPT MOLI PHI 7b. bP enterprise.
PR:

@/ (MW APR TOO-ADTH (4) Phat? 2?) Decuments under Sub-Article (1) of this Article

y?"} on,Ta Aee are PU ADT originating from outside of Ethiopia must be
ATS PUEIIT 2rd) AVE ar Pare AG authenticated by foreign and domestic bodies
authorized to authenticate documents,
PAIC ait AAT cod<orp AAD Tar:
 tA EES ba ro

Ty AS od bee EE hte RP BATE ge Fuuuril Suet Garvie No.78,Sepetembher

rt 2020... pagiy
aa er st it re eatat

HNeomia
beetir PORPbAdls
APPA
ATA
FOO-A
EE
EPRBOA:
(6) ome, 3/ Upon receiptof a completeapplicationfor
Pee pcre NTE Ler OP CAlAT registration in accordance with Sub-Article (1) of
this Article. the Commission shall render decision
ANEALIND “TID TRA tht (AAA) Peed
Per air alk BAA: within 30 (thirty) working days having conducted
the necessary review,

af pew PPA POG FOU pled 4. Where the Commission approve the request, it

PelPlA OF! (lene nel eyo “Wade shall revister the agreement and issue a certificate
AATCC arO® OAR BAAS ene} of registration to the domestic investor; where it
HAE POA arena} AAI ooriep OAUMEE: rejects the application, it shall notify the domestic
OA Par sPAe Investorof ils decision in writing.

NEA AL Ab
Poe a? (kb WAR cord PORFAN URS: CONDITION FOR OWNING A DWELLING HOUSE:
Sd

PAIL TWhA ATATT AATT PROVISION OF ONE-STOP SERVICE

12,Pome
oe LA ANToodPRFANv-nF- 17. Condition for Owning a Dwelling House

Parsi! QAO a Py" ASR AI aed AUD A foremn aivestor or a foremn national treated as a
Peed Foes wo APR APR TE POORER domestic investor may own a dwelling house as per
(@) anid Powe ae (et Ae eu} Pee Aar Article 1&8Sub-Article (2) of the Proclamation if he has

¢ invested a mmmun of LSD 10,000,000.00 (Ten

(Leo OAR LAO ORAL) CASK BAC
(eed AL CPA UY Fore Nirllicen)

TERPATLMAA ATARI
CT Ik. One-Stop-Service
Of APD OAR ae PAIS Obé TPOn tyVy
| Wethout prejudice to one-stop services provided in
ech £28 oe WA deA eee ape]?
industrial parks or other service provision locations
A. PAvlAcvand eres
(pot ONY ev dar VARS
pursuant to industrial park laws. the Commission
lA ree 07: AGE halk Paes heyi'r a
ie shall register foreign direct capital and provide the
faery cpp| ee a Pop yas
following Services representing the relevant
Penal Tar Papp ANAT ANAT Government execulive organs:
 Heer ee \2777
T*
ben :
a AK
a = bode
a7 ae he Be nA Ae PP RAE gy
ree Federal
eeSeward
Gavette
ee Na.TR,
Sepetember:2"!
SS 2020,=jie= a

UV)Penen
yg iF ae AG PaulRee Res a) Registrationof Memorandum
of Association,
LUPE AA VAY CPE ananypye): Articles of Association, and amendmentsthereto:

A) PRI Mey PednIE Ay" away): b) Registration, amendment. replacement, and

TATA: amply, avait: cancellation

oftradenames
andbusiness
names:
|
th) (FUE eon) arte AIO AS PIs c) Registration in commercial register and issuance.

PUT PRA Md anda: 9A A: | amendment. replacement and cancellation of

aebtpls ag: commercial rewistrationcertificate:

an) Aare as PP NEPY yege gods d) fssuamee. renewal, replacement, suspension and

aon: YR: aoe: 2. “Puts epee, | cancellation of expat werk permits:

oye Ws

ey PPR yg. goa

e marth: FRA: De; ¢) Issuance,
renewal.suspension,
replacement
and
2°15) eon AG ema: ‘eo revocation
of business
license:
and
GO) PATA nh) TA dF TERE
ATV OAar ao, aggre, f) Handling of investment incentive requests in

ATMA Aa an ang}. Pap 42 accordancewith the applicable law: handling of

requests fur the transter of construction materials,
ametlelsUAas AFR Ape OZ AA Pha |
‘ cupitil voods, spare parts and vehicles from one
AONE Rha AAU TID: bbe i investor having . duty-free right’ to another
PVE TA OPE: PemaPany, bre AG investor having the same right in accordancewith
hana gy PeTerAaAg PERL | the applicable law

POG
Ne
| i?/ ee: ae AyFes WCLeke AW APR 7; The Ministry of Trade and Industryshall follow up

WOONTPA (6) BRA he (or) ang) that the renewal of businesslicense as per Sub-
CUNT US PPI pe). BPS OLA lay Article (1) paragraph(e) of this Article is.carried
AVA) cog Ran} Pldpag x out in accordancewith the law.

i‘/ PennsFar Pan peppan} AAT (Ney 7p | 3) The pertinent Government Agencies shall set up

CAS BDA AIA AE) £0 ((eysbge desks and provide the following services at the

POREELATS
WIAAoy BANA
LH Commission's
oneae shop:
 TEAL EGS Federal Negarit Gazette Nu,78,Sepetember2™2020. page 12778
Vk 400 Hoek oan bee ER ht FE Oe RATE oo

V) PVC NEP COAL bP coh: a) Issuance

of tax identificationnumber:

A)Penge
e 22k omar: b) Issuanceof residencepermit;

ch) PVGNS: APL auhavt: AG c) Issuance of construction permit; and

an)?WHOL,bAOT 19°97 PST ARLE PPPANC d) Approval of environmental impact

assessment studics and issuance of
wel emt: |
3/ When necessary,
certificate:
the Commission may determine to

6/ WOBAT, US ATE DOL ON APR POA PR

(@) AG (8) tebeodtriedl are OANGR oot provide additional one-stop services supplementing.
Awe ble ANA
E TAA Awd} the list under Sub-Articles (i) and (3) of this
BTAAS | 4/ Upon
Article.
receiptof applicationfor servicesprovided
B bei 10 WER DOO-ATPR (6) PbaI4

AIARMET? AOA Pee ACT under Sub-Article (1) of this Article, the

VaoAhFar PLA OPENaoese19201 AG Commission, having ascertained completeness of

PSA) AVM hag a) AAC Nemeotienl: the application and reviewed it pursuant to the
oy

applicable law, shall. ~

UV)VemaAnFary teePlAar ballad hae a) Where tt approves the application, provide the
AANA Penrod AIAIT BAMA:
service requested by charging the proper fee.
AANA herAge PAM WIAA and notify relevant Government organs of the

OL WER AMA AVRO Pan

ppyer] service provided or accreditation issued for
AMAT Parca: ofy? necessary follow-up, or

b) Where it rejects the application, notify the

A) VowaAhFary haebkeAa PAPA
investor or applicant in writing of the reasonfor
S PHT AQAUIEE O29" AAePAILE (0-4
_ the rejection.
PearPA 3:
 TRARY 12779
Te AKA IIe OM ke ER phe RE PD ETE og Federal
Negarit
Gurette
No.78.Sepeimber
2 2000 jaingea
a

G) AUER AALHers PeReeEho- 5/ The appropriate investment organs ‘shall provide

PLLPALAD Met: NCC: fad PAAR support lo requests of investors in respect of their

| SRA AT READ KATE: ADU Investments to obtain land. lown. water. electric

AGAFar AG ACER Pare Parekh AI wa TN _ power, telecom services. as well as visa and

residence permits for themselves and their expat

AG PeamPePEP ATTTTTE ALE PCOlra-
{ PERPT AMT PAB PACHAo'5-- employees.For the implementationof —this
AQPSLCG AA bela} LOR BAIA A provision, relevant organs oot the—Federal
ms Government and Regional State Administrations
| LUI, = ABRAI™
— POemALS
Far PARA
must ¢stablish investment help desks that handle
mye’ AG PAA onthe bee
investors”requestsexpeditiously
PIAUTET? Pek PAPE POWPAESDS.

PASO} ZALES 97PPy RAGEars

HEA At PART SEVEN
+ Poe} om r SRS prec TRAINING AND TRANSFER OF KNOWLEDGE AND

Phat AThutet 7199C SKILL

TOETHIOPIAN
EMPLOYEES
Th, A or} imZ.-- PVT S A 19. Procedure for_the Training of and Transfer of

Piao?
t AG hte AIIC hewd-c Knowledgeand Skill to Ethiopian Emplovees

4/ APS. nber AE WOON

PR (6) ang} ‘ l’ Aninvestor
employing
foreigners
in’permanent
Pest Maa fare amd, Par RIC WaT} fields of occupation pursuant to Article 22 Sub-

PYPPOAAVOT
NIA Fads ELI “P6-PS:
| Arucle
(1)of theProclamation
is obliged
to
OaT ARTE POLY ROL LO} Pere ag replaceexpatemployees
by Ethiopians
within a
| clearly set timeframe by providing the needed on-
2AM AFLAP AG bob ADS PAA |
the-job training and facilitating the transfer of
PRA Pore bo Pee MALT
eePores
knowledge.
APS ie PORE VL AAT

E/ MAUVE PFI eed BPS (rama lyr 2/ The investor must, within three months of the

OO DIL arhe Pee AnTar’d OL AT eet. issuance of business license, Submit to the

THC POLLIE eee: PA -hivbaege Commission a statement detailing the type and

Pem(ly-744.7 PP) Aewh PALRRY 67°-T schedule

of thetraining,and,thereafter,
a quarterly
ADViy TPZ4) AAT implementation
report
of thetrainingprogram.

?/ UW APPRFO-O-h
FR (@)come PLPCNar 3/ Thereport
submitted
pursuant
toSub-Article
(2)of
CFO PethaAardy ucNey gen cous thisArticleshallcontainthefollowingdetails:
AAT:
 VeeT
Federal
Negarit
Gazette
Nu.78,
Sepetember
2™2020
|. page12780
ah MEA WOehoe bye Ee hte REED RATEoe
VU) Parekh AD Loar ama. AY? AG Pb mdll) a) The full nameof the foreign national and the
form
2 aod: occupational field in which he is hired;

A) Perd-AL eehane PAE

ar ALT Par ed b) The full name and address of Ethiopians
mA 9? AG Ak aa: receivingthe on-the-jobtraining;

ch) (bE
am) POLAMOr POLO
P7642 ALT
HAGParekh
S29
AANET:
AGT c) The type of training offered and theduration for
PLM Ray Lh? AG - which the training lasts;

d) Where Ethiopian trainees are not acquiring the

“E")iL,a0-"F
Cur«f*-]: AG Page eva.Ada ny} necessaryknowledge and skill to the extent

AG ‘LI After PAU? ADR AMY and within the time desired an explanation
thereon.
des

Oo; bevy NIK AG ASOT OLR AG 4/ In collaboration with the Ministry of Trade and
acl

adele AS “We! PAL Week 2c Industry and the Ministry of Labour and Social

ee PO OLD APA AG APR. AR AE Affairs, the Commission shall prepare and

PEEVE CRATE ReLenaire Patera-( implementa workingguidelineregulatingmatters

specified under this Article and Article 22 of the
anand2 PUORA:hh ATL PRODA®
Proclamation.

HEAAyer , PART EIGHT

AF 9 20.Repealed
and
MISCELLANEOUS
Inapplicable
LawsPROVISIONS
.

Bete AGPe.genyh
PATO AVF
The Provisions on investment areas in the
B) PALH
Aben'p
> NED FR AG ANICora
Investment Incentives and Investment Areas
VAG PPhAA Peed. aohhy PeyLbey
Reserved for Domestic Investors Council of
PHC Neb LIAL kee EVEL (AIRTATA)
Ministers Regulation No, 270/2012 (as amended)
PALO Tee' (Peed) anil} PepemAlrk:
are hereby repealed.
‘ LPLEeOM BA Pa
PAS
@/ DU 254) pa Pee IeFeary? 2b: No Regulation, Directive or Customary practice
shall, in so far as it is inconsistent with this
anang? OP." Fhe AK OMY LR
Regulation, be applicable with respect to matters
bid. hMPTF (hem Alpr Pe Aev'ree
provided for in this Regulation.
APT Garg?
 12781
aN ko eR oe he EE hl BED BATE oe
Federal
Negarit
Gayette
No.78.Sepetember
2 2070
,.. paw
BEPLRVISTO PVPTA3.9227 21.Unrepealed Provisions

PATA
eT WMCPTE AS AAIC wart The provisions of the Investment Incentives and

AUT PAA Peed coat Pee Abeh PHC Investment Areas Reserved for Domestic Investors

Council of Ministers Regulation No. 270/2012_ (as

wr Be beg | BREEN (ARaa)
amended)relating to investment incentives shall remain
PAT UAE, Pepeodied: 897,07
valid until they are repealedby another law.
NAAnD?AAAS. Ad ALA PBAnu

AE£70 ? Ot 2 22. Effective Date

LU LA AREA TOE OIL) ee bent)

This Regulation shall come into force on the date of
LIL Eger PAT PUGAS publication in Federal Negarit Gazette.

ALN AND th. FE 9 CUTE 9.9. Done at Addis Ababa On the 2™ Day of September 2020.

ONL hhowk (2Z/C) ABIY AHMED (DR.)

PRIME MINSTER OF THE FEDERAL DEMOCRATIC

PAPPALE 2LCAP APH PE CT NAN
REPUBLIC OF ETHIOPIA
mPAL. “L2ZATC