Jurisdiction(s):
United Kingdom

Key definition

Control definition

What does Control mean? In legal practice, control describes who ultimately directs a company or undertaking—typically through majority ownership, voting rights or contractual rights to determine management and policy. In the UK, many contracts define Control by reference to section 1124 of the Corporation Tax Act 2010, which looks to the ability to secure that a company’s affairs are conducted in accordance with a person’s wishes, whether through share capital, voting power or other rights (including those of associates). Where a bespoke definition is used, it commonly means the beneficial ownership of more than 50% of the issued share capital...

Mozambique foreign investment and exchange control regime: Q&A on legal framework, procedures, sectoral restrictions, 2023 reforms and merger control

Published by a LexisNexis Competition expert

Practice notes

A discussion with Tiago Arouca Mendes, managing partner, and associates Mara Rupia Lopes and Jhane Dulce Machava, at the Maputo office of international law firm MDR Advogados, on key matters concerning foreign direct investment (FDI) control in Mozambique.

1. What is the applicable legislation?

Set out below is a non-exhaustive selection of the most pertinent legislation governing FDI in Mozambique:

Law 8/2023, of 9 June 2023 (Investment Law)
Decree 43/2009, of 21 August 2009, amended by Decree 20/2021, of 13 April 2021 (Investment Regulation)
Law no. 4/2009, of 12 January 2009 (Tax Benefits Code)
Decree no.56/2009, of 7 October 2009 (Tax Benefits Code Regulation)

Additionally, for foreign investment, some operations fall within the scope of foreign exchange transactions and are, therefore, subject to the following rules:

Law no. 28/2022, of 29 December 2022 (Exchange Control Law)
Order no. 20/GBM/17, of 27 December, amended by Orders 6/GBM/2020, 10/GBM/2019, 11/GBM/2018 and 4/GBM/2018 (several regulations on Exchange Control)
Decree no. 53/2023, of 3 October 2023 (Exchange Control Regulation)

In this context, foreign exchange transactions cover operations: (i) carried out between residents and non-residents that result, or may result, in payments to or...

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Web page updated on 28/05/2026

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