Chad presents a growing development opportunity. Although the country’s medium-term history of civil and political unrest has discouraged investors moving into Chad, the country’s infrastructure needs have also posed a challenge to investors. Recently, however, Chad has moved to address the issues that stand in the way of a increasingly international business market.
Recent indicators have shown that foreign investors have begun to regain confidence in the country. Major direct investment from international companies into the oil sector has been increasing the country’s economic profile, and a consortium of global oil companies invested billions to develop oil reserves here. Crude oil has become the country's primary source of export, overtaking the traditional cotton industry. The World Bank has directed that 80% of oil revenues be invested back into development projects.
The corporate legal structure will stand to benefit from the increased trade, although, as it stands, the financial system is still modest and suffers from a far from sturdy market infrastructure and legal framework.
The Firm conducted a review of the power generation sector for an international independent power producer (“IPP”).
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Chad - Experience
International Outsourcing Service Provider
We have assisted this world-leading service provider in IT outsourcing in setting up in Chad. We have advised on company incorporation, outsourcing procedure and detailed employment and employee tax advice. We are assisting with employee notifications and transfers as well as all the relevant registrations and procedures.
International NGO – set up and registration
We have assisted a major US-based international NGO in determining the rules and procedures for establishing in Guinea, hiring staff and opening an ofﬁce. In addition we have researched the tax beneﬁts and employment laws.
Banking Regulation - Major International Bank
We have assisted a major international bank in determining its in-country rules for opening bank accounts and offering ﬁnancial services. This involved a review of the regulatory environment, legislation and industry rules, as well as speaking to industry players in-country to determine established practice.
We acted for a major on-line retailer advising whether the client’s standard way of operating in new countries was acceptable under local law. Issues included advice on sale of goods; import, export and customs regulations; advice on the regulatory framework for investors generally; as well as commenting on framework under which laws and regulations are drafted and amended.
Banking Opinion – Major US Financial Institution
We were asked to provide an opinion to this major US ﬁnance house on taking and exercising security in the CAR, as well as how to deal with any funds which were realised.