What is the general ownership and shareholding structure requirement? Is there any foreign ownership restriction? What are the financial and capital requirements for establishment of a Bank? Governance Structure Requirements. What is the typical application process and duration? 1.0 Introduction The Tanzanian banking sector has undergone a significant transformation, driven by digital innovation and regulatory […]
FINANCE LAW UPDATE: FOREIGN CURRENCY BAN: WHAT TANZANIAN BUSINESSES NEED TO KNOW
Breakthrough Attorneys has prepared this Article as a guide to businesses and service providers on the current limitations on foreign currency transactions in Tanzania.
REGULATORY AND COMPLIANCE UPDATE: A GUIDE TO INITIAL COMPLIANCE WITH TANZANIA’S DATA PROTECTION ACT
Tanzania launched the Personal Data Protection Commission (PDPC) to enforce the Personal Data Protection Act. Various sectors like telecom, finance, healthcare, and retail are impacted. Schools, NGOs, and religious organizations also need to comply. Businesses that collect customer personal data are likely data controllers and must register with PDPC by October 10th, 2024. You Might […]
INVESTMENT UPDATE: THINGS TO CONSIDER WHEN ACQUIRING A HOTEL BUSINESS IN ZANZIBAR
Investing in Zanzibar is highly commendable and certainly, lucrative. Investments in Zanzibar are channeled mainly through the guiding and regulating arm of Zanzibar Investment Promotion Authority(ZIPA). The likelihood is for the hotel business to be at the seafront,hence ZIPA does not have much land bank for this type of investment and therefore, investors are expected to purchase such lands from other private owners and submit such lands for investment redesignation and land lease certification.