Steps required to obtain investment certificate:
- Application for investment registration;
- Notice of acceptance or refusal;
- Issuance of investment registration certificate;
The application for investment registration involves the following:
1. Application letter to the CEO of RDB requesting for investment registration;
2. Submission of a business plan or a feasibility study;
3. Shareholding structure sheet
4. Certificate of company incorporation
Your investment application letter should clearly indicate following:
1. The name and address of the proposed business enterprise, and its legal form;
2. The nature of the proposed business activity and the level of planned capital investment;
3. The estimated number of persons to be employed and categories of jobs to be created;
4. The nature and volume of waste which shall be generated by the enterprise’s operations, and the proposed methods, of its management;
5. The nature of support and facilitation which the investor is seeking from RDB.
Your investment business plan or feasibility study should clearly indicate following:
1. Executive summary of the project
2. Profile of the project promoter(s);
3. The project background;
4. Market study or market analysis;
5. Investment plan over five year period;
6. The level of loan and equity financing;
7. Projected statement of income and expenditure 5 years;
8. Projected balance sheet ( 5 years))
9. Projected statement of cash flows (5 years)
10. Payback period, NPV and IRR
11. Loan amortization schedule for the bank loan (if any);
12. project implementation plan/ schedule)
13. Notes on assumption made in the business plan.
Notice of acceptance or refusal
Once your application for investment registration is approved we will send to you acceptance letter for your project.
The acceptance letter will contain the following:
- A request to pay a fee of US$ 500 to the RDB account
- Advise to comply with EIA requirement before actual implementation of your project
- Submission of proof of payment
If your investment application is refused we will send you a notice of refusal and the reason for the refusal. In case the documents are not in order or information provided is inadequate we will advise for improvement.
Issuance of investment registration certificate
Upon the receipt of proof of payment RDB will issue investment registration certificate. The investment certificate allows you to access the investment incentives provided in the investment code.
It will take two days to process your application and issue the certificate of investment registration if all documents are submitted and are in order.
Some of criteria for investment project evaluation
- Level of investment
- Non trading activity
- Creation of quality jobs
- Transfer skills and technology
- Use of local raw materials
- Potential for export
- Potential to create backward and forward linkages
- Innovation and creativity
FACILITATION OF CONSTRUCTION PROJECTS
Article 28 of Investment Code, Law N° 26/2005
Provides for investment incentives for building or construction projects that fulfill following conditions:
1. If it is a construction project worth at least one million and eight hundred thousand American Dollars (US$1,800,000);
2. If it is a project to be completed at least within a period of twenty four (24) months;
3. If it uses materials available in the country;
4. If it concludes contracts with registered companies which pay taxes and which employ nationals of the country;
5. If it rationally uses the allocated land;
6. If it engages in activities that do not degrade environment.
Building and finishing materials that are imported shall be those that are not produced in Rwanda on international standards or those in line with developer’s specifications. Before they are imported, such materials shall be approved by the Agency.
Tax incentives certificates on imported building materials shall only be accepted to construction projects which reach second storey upwards or in case activities of constructing foundation are over to large horizontal commercial complexes if it is clear that they shall not have skyscrapers and property developers who construct many dwelling houses on the approval of the Agency.
Additional documents for assessing projects that meet the above criteria
- Bills of quantities (confirmed by district councils)
- Architectural drawing and perspectives of the building(s)
- Authorization to build and location contract and
- Any other documents that support property ownership or the right use.
For more details about time line and costs of other services click here