Watching TV, you came to know of a lucrative business. This business would bring you more money if you do it in your individual capacity or through your family company. Do you think you can take this opportunity even if the opportunity falls within the company’s (that you serve as a director) business objective? Here...Read More
Introduction Fintech is a combination of the terms “financial” and “technology” used to describe a new technology that seeks to improve and automate the delivery and use of financial services. It refers to the integration of technology offerings by financial service companies in order to improve their use and delivery to consumers. Its applications extend...Read More
Introduction On September 15, 2022, the National Bank of Ethiopia issued Directive No. SIB 57/2022 on Minimum Paid-up Capital for Insurance Company (the Directive) which replaces Minimum Paid-up capital for Insurers Directive Number 34/2013. Increased Minimum Paid-up Capital RequirementGeneral Insurance License A general insurance license now requires 400 million birr as the minimum paid-up...Read More
Introduction A new directive has been issued by the National Bank of Ethiopia which establishes the conditions, limitations, and circumstances under which an Ethiopian, a resident of Ethiopia, a non-resident of Ethiopia, or any other person may possess and use foreign currency. Following the publication of this new directive, the Limits on Birr and Foreign...Read More
General Overview The Directive is issued by the Ministry of Finance of the Federal Democratic Republic of Ethiopia with the purpose of entitling exporters to export samples without paying tariffs and duties and without obtaining export permission from a bank. The Directive defines “Product Samples” as exact products or a representation of the product sent...Read More
Following the passage of the Investment Proclamation and Regulation of 2020, the Council of Ministers of the Federal Democratic Republic of Ethiopia issued Investment Incentive Regulation No 517/2022 (hereafter the “Regulation”) on 12th July 2022.Read More
Part One Arbitrability of Administrative Contracts When it comes to arbitrability, there is no uniform application throughout the world; what is arbitrable in one jurisdiction may be non-arbitrable in another jurisdiction. In the United States of America, for instance, administrative contracts are arbitrable but not in many countries including Ethiopia. In principle, administrative contracts are...Read More
This directive amends the previous directive 139/2010. It defines a tax clearance certificate as a written document that verifies a taxpayer has paid or is paying his tax. This certificate is given by the tax authority upon application of the taxpayer. Conditions for application There are four conditions for the application for tax clearance certification....Read More
The newly passed commercial code has introduced a one-person company. This new introduction increased the number of forms of business organizations from six in the old commercial code to seven; four partnerships, a private limited company, a share company, and the one-person company. But, in addition to these seven forms of business organizations, sole-proprietorship is...Read More
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