The regulation of private investing in afghanistan
General regulations 1. This law has been established for encouraging and supporting private investing, inside/ Outside of country. The main purposes of investing are; economic discoveries, expanding the market, increasing the national benefits, promotion of people's lives and helping the restriction project of Afghanistan. 2. The following words have been explained accordingly: Investing: Using material or non-material capital in the form of cash , credit, goods, services & other forms. Registered resorting : Investing of real person or the inside/outside agent who is qualified. 3. The real person or inside/outside agents can invest capital in different economic parts such as producing and service providing, according to these regulations. 4. Out side and inside investing in Afghanistan can be done in one of the below ways: 1. %100 inside private capital 2. %100 outside private capital 3. The mix private investing (Outside/Inside) 4. The mix governmental and private investing (inside / outside) 5. will arrange their registered resorting and will present to the related authority. Elements of supervision and fluency 6. The super commission of investing is the reference of assigning policy , supervision and fluency. This commission contains: - Commercial minister - Justice minister - Foreign affairs minister - Financial minister - Construction minister - instruction minister The minister of commercial is in charge of this commission. The minister who is involved in any part of investing project should attend the meeting related to that minister; the president can change the arrangement of this commission. 7. Two of the investors have associated for one year from super commission alternately. For the first year, this agent is chosen by trading chambers. Then, the investors will suggest the method of choosing of agents to supper commission. 8. For performing the contexts of this regulation, the investment office is going to be established in trading minister of Chookat. The qualifications, duties and establishment of this office will be adjusted within one essay which is issued by supper commission. 9. The chief of investment office as mentioned in article 8, undertake the duties of secretary of super commission investment. 10. The super commission investment have a secretaries. Chapter 3, advantages, exemption and necessities of mentioned taxes. 11. the conditions of taxes exemptions are as below: - For short-period investment, at most four years after issuing permission or three years after beginning the production, everyone which comes first. - For average- period , at most six years after issuing permission or five years after beginning the production, everyone which comes first. - For long- period , eight years after issuing permission or five years after beginning the production. If the case that investing is necessary for longer period due to the special situation, the super commission of investing can agree with the longer period for that project. 12. Investing office confirms that suggested investing is related to one of three articles mentioned in number 11. Private investors can transfer the money, which we obtain of investing, to the areas before Afghanistan without paying tax. All the complains will be checked by commission and they'll do needful in this regard. Custom Good 13. All the mentioned resorting productions are exempted of any kind of permission or custom duties for four years. Landed renting 14. The foreign investor can rent some place, according to three period (Shot, average and long period), and has a landed renting for 10, 200, 30 years, the project should be done in this period. Investing commission can extend the period. Assignment of capital 15. Capital in transferable. Selling 16. Private investors can sell the mentioned resorting after legal settlements and the agreement of investing office. 17. The capital and benefits of selling can be transferred to abroad. Trading the stock 18. The foreign registered resorting can sell his stocks to Afghan citizens or Afghanistan government. 19. Trading and using of , commercial marks or any kind of information related to patent , should be done according to investor's undertakings. Banking facilities 20. Inland or foreign registered restoring can use the Afghanistan banking facilities, opening the accounts in foreign exchange and the right of credit for improving investing in country. 21. The private investors should employ the qualified Afghani employees as far as possible. Sundry rules - requisition 22. The government can't requisite the inside/outside investing without legal permission. 23. Possessing of the inside/outside investing is just permitted in the case of safeguarding the interest of public. In this case, government pays its benefit according to a valid evaluation institute or at the current price. 24. The private investors can transfer the money, which is the result of possession, to the abroad without paying tax. The complains of registered resorting will be investigated by by investing commission and will do needful in this regard. 25. The Pipe line building, Tili Communication, oil & gas , mines and heavy industries are exceptions of this regulations. Investing in these parts will be done according other rules. Resolving the disagreements 26.The disagreements between foreign investors and local investors, investing office and governmental institute should be resolved friendly and via special contracts which have been signed in this regard otherwise they should refer to the international treaty of for resolving the disagreements between governments and other country's citizens, signed in march 18, 1965 or the paper of arbitration of UN according to international commercial regulations . 27. The decision which has been made according to the paper of arbitration or treaty, is the final agreement and parties should act toward it. 28.After recognizing this law officially, the investing office which had been established according to investing law in 8/2/1422, will be canceled. 29. Whenever someone is against the rules of this law (regarding inside/outside investing) , these rules will be checked and done. 30.after establishing in official newspaper and signing by the president, this law will be recognized officially.