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Ethiopia

Ethiopia Flag

Country: Ethiopia
Region: Africa
Currency: Birr (ETB)
Languages: Amharic
Time Zone: UTC +3

Phone Code: +251

Communications: Poor

Formation Cost: 100 - 200 USD$
Formation Time: 12 - 18 days
Maintenance cost: 0 USD$

Executive Summary: Ethiopia is located in eastern Africa with a land area of 1m sq km. Landlocked, the country has borders with Djibouti, Eritrea, Kenya, Somalia, South Sudan and Sudan. In 2014, the population is estimated at just under 97m. Ethiopia's economy is based mainly on agriculture but the government is pushing to diversify into manufacturing, textiles, and energy generation. Coffee is a major export crop. The agricultural sector suffers from poor cultivation practices and frequent drought, but recent joint efforts by the Ethiopian government and foreign donors have strengthened the country’s agricultural resilience. The banking, insurance, telecommunications, and micro-credit industries are restricted to domestic investors, but Ethiopia has attracted significant foreign investment in textiles, leather, commercial agriculture and manufacturing. Although per capita income is among the lowest in the world, the economy has enjoyed strong rates of growth in recent years, and GDP expanded by an estimated 7% in 2013. Tax incentives are available for companies located in certain geographical areas.

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Vehicle Types: Limited companies, share companies, sole proprietorships, general partnerships, limited partnerships and joint ventures

Capital primary business districts: Addis Ababa

Good Relationships: South Africa

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Moderate

Headline tax rates: CIT 30%, PIT 10%-35%, VAT 15%

Treaty Jurisdictions: China, Czech Republic, France, India, Israel, Italy, Kuwait, South Africa, Turkey, United Kingdom

TIEA Jurisdictions: None

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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