Objective

The Tanzania Investment Centre (TIC) is a One Stop Agency of the Government of Tanzania established under the Tanzania Investment Act, No. 26 of 1997 to promote, co-ordinate and facilitate investment into Tanzania.

The Centre deals with all enterprises whose minimum capital investment is not less than US $ 300,000 if foreign owned or US $ 100,000 if locally owned. Enterprises engaged in Mining, and Petroleum, shall follow the approval process contained in their respective laws. But the Centre shall assist all investors to obtain permits, authorisation etc. required by other laws to set up and operate investment in Tanzania.

Among the functions of the Centre are:

• to initiate and support measures that will enhance the investment climate in the country for both local and foreign investors
• to collect, collate, analyse and disseminate information about investment opportunities and sources of investment capital, and advise investors upon request on the availability, choice or suitability of partners in joint-venture projects
• to identify investment sites, estates or land together with associated facilities of any sites, estates or land for the purposes of investors and investments in general
• to assist all investors, including those who are not bound by the provisions of the Tanzania Investment Act, 1997, to obtain all necessary permits, licences, approvals, consents, authorizations, registrations and other matters required by law for a person to set up and operate an investment; and to enable certificates issued by the Centre to he fully effective
• to provide, develop, construct, alter, adapt, maintain and administer investment sites, estates or land together with associated facilities of those sites, estates, land and subject to relevant laws, the creation and management of export processing zones
• to provide and disseminate up-to-date information on benefits or incentives available to investors
• to carry out and support local investment promotion activities which are necessary in encouraging and facilitating increased local investments, including entrepreneurial development programmes

Administration of the Centre

The Centre is administered by a 7-member Board of Directors representing both the private and public sectors. The Centre is headed by an Executive Director who is the Chief Executive.

Tanzania Investment Centre as a One Stop Centre

The Centre is the focal point for all investors and performs all liaison work for the investor from enquiries right up to project start up. All government departments and agencies are required by law to cooperate fully with TIC in facilitating investors.

Certificates of Incentives and Registration of investors

Investors in new, rehabilitation/expansion of existing enterprises and equity investment are required to provide the following information:

• the name and address for the proposed business enterprise, its legal form, its bankers the name and address of each director or partner and the name, address, nationality and shareholding of each shareholder
• the qualifications, experience and other relevant particulars of the project management
• the nature of the proposed business activity and the proposed location where that activity is to he carried on
• the proposed capital structure or the amount of investment and the projected growth over the next five years
• how the investment will he financed
• evidence of sufficient capital available for investment
• an undertaking that the project shall he implemented as indicated in the projections of the project
• a statement of audited accounts for the three years proceeding rehabilitation & expansion of the enterprises
• constitution of the enterprise or partnership agreement for equity investments
• amount of equity investment made