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Zambia-Investment-Gu ABOUT ALN ALN is an alliance of independent top firms are committed to working together tier African law firms. It is the largest and to provide extensive coverage and on- only grouping of its kind in Africa, with the-ground experience. The network has close working relationships across its consistently been ranked Band 1 in the members and an established network of Leading Regional Law Firm Networks Best Friends across the continent. ALN’s category, by Chambers Global. ALN IN ZAMBIA ALN Member Firm: Musa Dudhia & Co. Founded in 1958, Musa Dudhia & Co. is The firm’s extensive client base includes one of the oldest law firms in Zambia, public and private companies, investment offering unparalleled expertise due to and retail banks, international financial its long and established experience institutions and private equity providers. in the Zambian market. The firm is at the forefront of legal service provision International directories recognise Musa for international and major domestic Dudhia & Co. as the law firm of choice investors looking to operate in Zambia for major clients seeking skilled domestic in various sectors such as Agriculture, representation. Financial Services, Natural Resources (including Mining and Metals), Energy Chambers Global 2016 ranks Musa (including Power), Real Estate and Dudhia & Co. as a Band 1 law firm in Leisure (including Hotels and Tourism) Zambia Infrastructure, Telecommunications and Oil & Gas. “This traditional powerhouse uses its in-depth knowledge of the regulatory environment in Zambia to maintain a leading position in financing and commercial matters, and also attracts praise from commentators for its well- respected dispute resolution practice.” – Chambers Global 2016 CONTENTS OVERVIEW INTRODUCTION 6 THE LEGAL SYSTEM SOURCES OF LAW 8 THE JUDICIARY OF ZAMBIA 9 COMMERCIAL COURTS 9 ALTERNATIVE DISPUTE RESOLUTION 10 PROMOTION & REGULATION OF FOREIGN INVESTMENT OVERVIEW 13 INVESTMENT UNDER THE ZAMBIA DEVELOPMENT AGENCY ACT 13 INCENTIVES AVAILABLE TO FOREIGN INVESTORS 14 PROTECTION FROM COMPULSORY ACQUISITION OF PROPERTY 14 FOREIGN OWNERSHIP OF LAND 14 CONVERSION AND TRANSFER POLICIES 15 TAX INCOME TAX 17 WITHHOLDING TAX 17 PROPERTY TRANSFER TAX 17 DOUBLE TAXATION ARRANGEMENTS 17 DOING BUSINESS BUSINESS ORGANISATIONS 19 COMPANY FORMATION & CORPORATE GOVERNANCE 20 GENERAL BUSINESS & INVESTMENT ENVIRONMENT 21 LABOUR RELATIONS 23 SPECIFIC SECTOR INVESTMENT OVERVIEW 26 AGRICULTURE 26 BANKING AND FINANCIAL SERVICES 26 ENERGY 27 MINING 28 REAL ESTATE 30 TELECOMMUNICATIONS 30 TOURISM 31 WATER 32 CONCLUSION 32 KEY DEVELOPMENTS ENERGY AND INFRASTRUCTURE 34 FINANCIAL SERVICES 34 NATURAL RESOURCES 34 OTHER DEVELOPMENTS 35 OVERVIEW POPULATION 16.211 Million (2015 World Bank Data) GDP USD 22.06 Billion (2015 World Bank Data) CAPITAL CITY Lusaka AREA 752, 618 km2 PRESIDENT CURRENCY DRIVES ON Edgar Lungu Zambian Kwacha (ZMW) The Left GOVERNMENT LANGUAGE TOP LEVEL DOMAIN Republic English .zm TIMEZONE CALLING CODE GMT + 2 +260 5 INTRODUCTION Zambia is a landlocked country in south- and free repatriation of earnings; security central Africa with an area of 290,587sq to investors with statutory rights to full mi (752, 618 sq. km) and is strategically and fair compensation; and repayments, surrounded by eight neighbouring provide a suitable environment for countries; Malawi, Zimbabwe, Tanzania, investment in the country. Zambia also Botswana, Namibia, Angola, Congo provides duty free access to regional, DR, and Mozambique. It is a sovereign, wider African and the USA markets unitary, multi-party democracy and under Southern African Development provides a market oriented liberalised Community, Common Market for Eastern economic environment. The country is and Southern Africa Agreements, the highly endowed with natural resources Africa Growth and Opportunity Act and such as copper, waters, good soils, labour, the Cotonou Agreements respectively. game and land. Furthermore, it has Its attractive sub-tropical climate and experienced continuous political stability vegetation with plenty of water and since attaining independence in 1964. electricity as well as friendly people who are mostly English speaking with high Factors such as abolition of control- literacy rates act as a bonus to both prices; interest rate; foreign exchange foreign and local investors. 6 THE LEGAL SYSTEM Zambia has a dual legal system made law is administered by special courts up of general or statutory law as called Local Courts and can be set aside well as the tribe-specific customary if such customs contradict the written laws. The general law is based on the law or offends English principles of English Common law system whilst the justice, good conscience and equity. The customary law is based on the various importance of the dual legal system is norms and cultures of the different tribes that it creates two standards of justice in Zambia. The Zambian legal system has applicable side by side with regard to the developed in such a way that customary same population. SOURCES OF LAW The power to make laws is vested in the Communication Technology, Capital Parliament of Zambia. The sources of law Markets, Taxation, Local Government, in Zambia include the following listed in Shipping, Competition Law and order of importance to the legal system: Intellectual Property. Common law principles are only relied upon when • The Constitution of Zambia there exists a lacuna (or gap) in the • Acts of Parliament Zambian law. • Subsidiary legislation • Judicial decisions Zambia does not have a highly developed • English Common Law, Equity and case law system; as such it is very Statutes difficult to be certain as to whether or • Customary law not there is a specific Zambian authority on a particular point. Where there is As mentioned above, the law in Zambia is no local judicial authority, the Zambian principally based on the English common courts may consider case law from other law system. The English Law (Extent of jurisdictions, including England and other Application) Act as amended by Act, No. commonwealth countries which follow 6 of 2011 sets out the extent to which the English common law like Kenya, English law is applicable to Zambia. Uganda, India and Australia. As a matter The Act provides that English principles of practice, English case law and cases of common law, equity and English from other commonwealth countries are statutes enacted before 1911 as well as the often cited in court proceedings although Supreme Court Practice Rules of England they only play a persuasive function and in force until 1999 are all applicable in are not binding on the courts. It must be Zambia provided that they are applied noted, however, that when dealing with in conformity with the Zambian written a Zambian law matter, one is advised laws. as much as possible to obtain Zambian authorities in support of the claim. With regards to commercial activities in Zambia, it is the local statutes that take priority. For instance, there are Zambian statutes governing, among other matters, Companies, Mining, Banking and Insurance Business, Agriculture, Land Law, Energy, Information and THE JUDICIARY OF ZAMBIA Created under the Constitution of Court of Appeal. Zambia, the Judiciary consists of the Supreme Court of Zambia (the “Supreme Subject to article 128 (on the jurisdiction Court”); the Constitutional Court of of the Constitutional court), the High Zambia (the “Constitutional Court”) Court has original and unlimited which is equivalent to the Supreme jurisdiction in civil and criminal matters; Court; the Court of Appeal; the High appellate and supervisory jurisdiction, Court of Zambia (the “High Court”); as prescribed; and jurisdiction to review the Subordinate Courts; Small Claims decisions, as prescribed. The High Courts, the Local Courts; and such lower Court consists of the Commercial Court courts as may be prescribed by an Act of division, the Industrial Relations Court, Parliament. the Family Court division, the Children’s Court Division, the General Civil Registry The Supreme Court has appellate and Criminal Registry. jurisdiction to hear appeals from the Court of Appeal. It consists of 11 Judges The court structure explained above was inclusive of the chief justice and the brought into force by the Constitution deputy chief justice. of Zambia (Amendment) Act 2016. According to the amended constitution, The Constitutional Court has original the Court of Appeal, Constitutional Court, and final jurisdiction to determine all and the Family and Children’s division constitutional matters in the country of the High Court shall come into force (save for the interpretation of the Bill of progressively. Rights in part III of the Constitution which is still the preserve of the High Court). There are also various tribunals such According to the constitution, the as the Lands Tribunal, the Town and Constitutional Court is equivalent to the Country Planning Tribunal, Competition Supreme Court except that its jurisdiction and Consumer Protection Tribunal, is limited to constitutional issues and Information and Communication matters. Technology ad hoc Tribunal and the Revenue Appeals Tribunal established The Court of Appeal has jurisdiction to under various statutes to deal with hear appeals from the High Court; other specific matters and whose decisions courts, except for matters under the may or may not be subject to appeal. exclusive jurisdiction of the Constitutional Judgments of the superior courts of Court; and quasi-judicial bodies, except record (the High Court,
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