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Trade, Tour, Invest – Timor-Leste

25 March 2019

East Timor (Timor-Leste) restored its independence from Indonesia on 20th May 2002 through a referendum in 1999 that was supported by the United Nations. Since then a new government was set up to build and maintain all infrastructure that was destroyed by anti-independence militia.

The publication of an Investment Guide for the country is a clear indication of the developments taking place as it paves the way for investment. Key information on the country’s economic situation and the principal tax, legal and labor issues, as well as how to initiate a business in Timor-Leste is provide by the Investment Guidelines. It sets out six key attractiveness factors including natural resources, commitment to sustainable development, the use of US currency, the reform program, international integration, and the country’s competitive tax regime.

Moving beyond oil, gas and minerals, the pristine landscapes providing temperate, subtropical and tropical climates provide huge potential for tourism as well as opportunities in agriculture, forestry and aquaculture. Ongoing investments in infrastructure and human resource development along with the reform program that prioritizes and streamlines the implementation of structural economic measures have already begun to result in investments and the generation of jobs.

In terms of fiscal settings the investment guide suggests that the upside of the use of the US dollar in Timor-Leste is a reduction in exchange rate risk allowing a more stable background in which to develop operations and notes that corporate tax, customs duties and indirect tax rates are lower than comparable countries in the Asia-Pacific region.

The Government has made marked progress in the last two years to improve the business environment in order to encourage economic diversification. Businesses are encouraged to investigate and explore potential opportunities and make direct contact with .Trade Invest Timor-Leste.

Visa on arrival, ease of process to obtain a working visa for investors has been implemented. Accommodation and other living arrangement facilities are available and are continuously being expanded and upgraded.

 


 
 
 
 
 
 
 
 
 
 
 
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April/May 2019

 
 
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