Angola – Approved Legal Framework for Holding Company Management Entities

In brief

On 30 July 2026, Presidential Legislative Decree No. 5/26 was published, approving the Legal Framework for Holding Company Management Entities (Sociedades Gestoras de Participações Sociais – SGPS). 

The decree establishes a specific legal framework for holding companies in Angola, strengthening supervisory mechanisms and setting out dedicated requirements for their incorporation and operation. 

In detail

This decree entered into force on the date of its publication. 

Among the various measures set out in the decree, the following are of particular note: 

1. The exclusive corporate purpose of SGPS entities is the management of shareholdings in other companies, whether in Angola or abroad. 
2. For the purposes of the framework, shareholdings held for a period exceeding one year and representing at least 10% of the voting capital of the investee company are deemed qualifying holdings. The law also permits holdings below that threshold in specific circumstances. 
3. SGPS entities may provide technical administration and management services to investee companies, subject to a written contract and identifiable remuneration. 
4. SGPS entities are subject to registration with and supervision by the Securities Market Supervisory Body (currently the Capital Markets Commission or Comissão do Mercado de Capitais), as well as to the mandatory appointment of an external auditor and compliance with periodic reporting obligations, including the annual submission of an inventory of holdings. 
5. SGPS already in existence on the date of entry into force of the decree have a period of 180 days to comply with the new framework. 

^{© 2026 PwC. This communication is of an informative nature and intended for general purposes only. It does not address any particular person or entity nor does it relate to any specific situation or circumstance. PricewaterhouseCoopers Tax Services TLS, Lda. We will not accept any responsibility arising from reliance on information hereby transmitted, which is not intended to be a substitute for specific professional business advice.}