Recent developments of note to foreign investors in Algeria include new thresholds for payments that must be made via banking and financial institutions, and new restrictions on the activities of new car dealers.
A new decree1 requires payments for certain purchases to be done through banking and financial channels as of 1 July 2015 if they meet or exceed the following thresholds:
Non-compliance of these provisions could result in the application of Algeria’s sanctions against money laundering and terrorist financing.
The activity of new car dealers in Algeria is subject to new conditions and procedures under a new decree2. These measures also apply to lifting vehicles.
The decree requires car dealers to:
Car dealers must also meet the following investment obligations:
Car dealers already authorized in Algeria must comply with decree’ provisions within 12 months period from the decree’s official publication date.
1Executive Decree No. 15-153 of 28 of 16 June 2015.
2Executive Decree No. 15-58 of 8 February 2015.