Law no. 3/2011-Republic of Guinea Bissau Investment Code.

The Investment Code approved by this law seeks to harmonize the rules in force in the Republic of Guinea-Bissau with the current version of the draft Community Code with a view to ensuring a smooth transition, with little changes, for an eventual alignment of legislation in this area in the framework of our sub-regional economic integration. The Code is composed of 5 chapters: general provisions (I); rights and guarantees (II); tax incentives (III); conflict resolution (IV); and final provisions (V). This Code aims to encourage and guarantee investments in the Republic of Guinea-Bissau and applies indiscriminately to investments, irrespective of the sector of operation of business, the nationality of the investor and the legal form of the company, or any other distinction nature, except as provided in this Code. Exceptions to this Code relate to investments in the areas of mining, oil and forestry, as well as those in free zones and duty free shops, which are governed under the legislation itself or investment contracts.
Investment operations should be subordinated to the national law and rules arising from international treaties to which Guinea-Bissau is bound, in particular those relating to the protection of public health and hygiene, consumer protection, competition, environment protection, fight against desertification, product standardization and quality, payment of taxes and the adoption and maintenance of a proper and fully organized accounting, in accordance with the West African Accounting System (SYSCOA) and/or the Accounting System of the Organization for the Harmonization of Business Law in Africa (SYSCOHADA). In addition, the state guarantees to investors that no measure of nationalization, expropriation or requisition shall be taken except on grounds of public interest or utility, determined by means of non-discriminatory criteria and through due process. In this case, the State has to effect immediate payment of fair compensation.