Gambia, your hub to West Africa

Join us to The Gambia!

 A-LAW INTERNATIONAL LAW FIRM has further expanded its international reach with the launch of its Gambian Desk covering Gambian and Senegalese market. Belgian clients can now benefit from professional guidance on local customs and laws – a necessity, Managing Partner Patricia Leers says, for a successful approach when entering new markets. She adds that The Gambia desk complements A-LAW INTERNATIONAL LAW FIRM’s already strong  Africa presence in Ghana and South Africa.

In line with A-Law’s philosophy, the A-Law international desks are led by local legal professionals, who can advise A-Law clients on the “big picture” of business opportunities and challenges in their respective countries. 

Why Gambia ?

A new democracy, with tremendous opportunities for foreign businesses.

The importance of the allocations of the financial institutions including the EU, IMF and World Bank are a token of the potential of the Gambia, its development and the importance of its port as hub to West Africa.

Private Trade Mission’s to The Gambia with focus on the key sectors

Join us to discover the trade and investment potential for your product and service in The Gambia!

For information and registration to the trade mission’s to Gambia, please contact A-Law Managing Partner Patricia Leers on p.leers@a-law.eu, head of the international department and learn about the trade mission’s program, the policies and opportunities this new market has to offer for your business, product and service.

A company profile and personalized B2B and G2B meeting schedule will be arranged.

For more information on our events, consult our website, www.a-law.eu

KEY SECTORS FOR BUSINESS DEVELOPMENT

If your company is active in the following sectors, Gambia is a new market to discover:

Agriculture, especially in horticulture, floriculture, livestock, slaughter houses, animal husbandry, groundnuts, spices fruit/vegetable processing, packaging and canning; soil fertilization, GAP services, agricultural machineries. The set up of an agriculture investment bank is part of the agriculture development plan.

Fisheries and forestry exploitation; including packaging and fish cultivation, trade and export of fisheries.

Tourism and travel; construction of tourism facilities and ancillary services

Logistics and (air) port related development and services including ship repair and value added logistics

Construction and engineering services including bridges and warehousing,

Automotive, machinery and equipment including tankers and trucks.

Light manufacturing & assembling

Energy (electricity) with emphasis on renewable energy, wind and solar.

Mineral exploration & exploitation especially in the country's hydrocarbon potential;

Communication, Telecom and IT services including datacentre, mobile applications, SAAS

Financial and insurance services and services in general

Healthcare, medical devices and preventive diagnosis

FAVOURABLE INVESTMENT ENVIRONMENT

The Gambia is known for its business-friendly environment thus, domestic and foreign investment is encouraged in virtually all the sectors of the Gambian economy and the Government is giving the highest opportunities and incentives to areas considered to be the priority sectors. The Gambia is renowned internationally for its peaceful nature, stable government, independent legal system and relatively flexible taxation and business rules. We have put together some top tips and information for businesses and individuals who want to invest and do business in this small but globally investor friendly West African country.

1. No Restrictions:

Notwithstanding Government's wishes in influencing location of investment, the investment and other Government policies do not have any restrictions on the range of business activities in which investors may engage. The government is maintaining its open-door non-discriminatory policy of ensuing that no foreign investor is subject to restrictions that are not applicable to domestic investors and vice versa. The policy also seeks to encourage equity participation of foreign investors as a means of enhancing the spread and transfer of technology, technical, managerial and entrepreneurial skills.

2. Legal Guarantees:

Within the broad legal framework, the Government assures investors security of title and guarantees that investment in the country will not be expropriated.

3. Taxes and Administrative Charges:

A number of direct taxes are applicable in The Gambia. There are direct taxes on salaries, real property, income earned from various business ventures and through various sources. There are also exemptions, discounts, relief and tax holidays. There is a relief from double taxation of any person resident in The Gambia who pays or is liable to pay taxes in any year of assessment in a Commonwealth country. There are also double taxation arrangements entered into between the Government of The Gambia and other countries. Where such arrangement is entered into, residents of The Gambia who are liable to pay taxes in such countries are relieved from double taxation.

These tax relief are made in the form of tax credits. This is to say that only that part of the income which is liable to tax in The Gambia and is also subject to tax in the other country would be granted relief to the extent of the tax in that other country.

4. Risk Management & Dispute Resolution:

Both local and foreign investors are protected by the laws of the country and where an offence is committed, due legal procedure is applied and investors can have unimpeded access to local and international arbitration.

The Gambia is also a member of the International Centre for the Settlement of Investment Disputes (ICSID) and the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group.

The Constitution of The Gambia guarantees and safeguards against nationalization and expropriation of investments. The Investment Promotion Act and Free Zones Act 2001 also contain provisions against expropriation of properties of investors.

5. Incentives & Opportunities:

With a minimum investment threshold of US$100,000 and US$250,000, the following incentives are offered to domestic investors and foreign investors respectively.

Tax Holiday. A newly established investment enterprise that falls within any priority investment category is granted a tax holiday with respect to its corporate or turnover tax and depreciation allowance.

Tariff and Import VAT Incentives. A newly established investment enterprise that falls within any priority investment category is granted an import VAT waiver on imported specific goods as per the agreed list of items.

Export Promotion Incentives. An investment enterprise located outside the export processing zone that exports at least 30% of its output is entitled to the following:

• 10% corporate or turnover tax concession for 5 years.
• Financial planning services and advice.
• Participation in training courses, seminars, and workshops.
• Export market research.
• Advertisement and publicity campaigns in foreign markets.
• Product design and consultancy

Zone Investor Incentives. An investor operating in an Export Processing Zone and exports at least 80% of its outputs is exempt from payment of numerous duties and taxes, including import VAT waiver on imported goods/items, excise duty, import duty on capital equipment, corporate or turnover tax, municipal tax and depreciation allocation. 

SME Support. SMEs are entitled to the following facilities:

• Support for research and development.
• Income tax deposit waiver.
• Matching grants.
• Market survey and research support.

6. Labour

The cost of labour in The Gambia is relatively cheap. The amount of wages paid to employees is determined principally on the basis of a minimum wage structure fixed by the joint industrial councils (JICs) or through the process of collective bargaining involving the worker and the employer in consultation with the Government. The workforce is generally regarded as friendly, hardworking and disciplined.

7. Market Access - The Gambia benefits from unrivalled access to a large and growing market:

• West Africa

The Gambia’s membership to the Economic Community of West African States (ECOWAS) trading bloc ensures easy market access to over 300 million people

   

Join us from November 4^th till 8^th to discover your business development opportunities in The Gambia !

For information and registration to the trade event to Gambia from 4th till 8th November 2017 please contact Patricia Leers on p.leers@a-law.eu and learn about the opportunities this new market has to offer for your business.

A customized B2B and G2B meeting schedule for your business will be arranged for.