Investment Certificate is issued to investor under Section 12 of Zanzibar Investment Promotion and Protection Act No. 11 of 2004. The minimum investment capital requirement is provided here. The issuance of investment Certificates involves two stages as follows:
Stage 1: Submission of Investment Intention Form
Investor shall submit a concept note for the proposed project to be implemented in Zanzibar through Investment Intention Form which is available free of charge at ZIPA offices or can be accessed here
Once the concept note is accepted, the investor shall be notified and provided with Application Form for a non-refundable fee of US$ 200 or informed otherwise. The maximum processing time is 7 working days.
Stage 2: Submission of Application Form
A dully filled application form should be submitted to ZIPA, accompanied with the following documents:
- Ten (10) copies of Business Plan/feasibility study
- Proof of availability of funds for investment including a bank statements for the last six months
- Passport copies, passport size photographs, CV and police clearance certificates from country of residence and country of origin of all Directors and shareholders
- Certificate of Incorporation
- Memorandum and Article of Association
Once investment proposal is approved by ZIPA, investor is issued with Interim Certificate. The Certificate is renewed annually until all approved capital is invested. Thereafter Investment Service License shall apply. The fee structure for the Interim Certificate is provided here.
The approval process may take a minimum of 21 days and maximum of 90 days