Foreign investors must register with the Companies and Intellectual Property Authority (CIPA). The company registration process takes around 14 days; however, foreign investors should allow 48 days to complete additional required registrations such as tax registrations, opening bank accounts, and obtaining necessary licenses and permits.
Foreign direct investment (FDI) is not permitted in small-scale businesses in retail trade services and manufacturing in order to protect local entrepreneurs. Furthermore, important utilities and services remain under State ownership and are not open to private investment - foreign or national. There are no restrictions in growing sectors such as mining, tourism, financial services and most mid- and large-scale manufacturing. However, trade and non-financial services, manufacturing and tourism all require a licence.
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