Rwanda Sector Licences, Public Contracts and Exit: 10 Questions Answered
Some sectors need a licence on top of company registration, public contracts follow procurement rules, and every investment eventually needs an exit plan. These answers cover the regulators, the procurement process, reporting duties and how to sell or close a Rwandan business.
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Which sectors need extra licences beyond company registration?
Several sectors are regulated by specialist bodies: banking, insurance and payments by the National Bank of Rwanda, capital markets by the Capital Market Authority, utilities, telecoms and transport by the Rwanda Utilities Regulatory Authority, and mining by the Rwanda Mines, Petroleum and Gas Board, with further licences for health, education, tourism and others. The Investment Code lists a sector licence in the investment registration file where relevant. Identify the licence and regulator early, because approval can drive your timeline.
How do I get a licence for a bank, insurer or fintech?
The National Bank of Rwanda licenses banks, insurers, microfinance institutions and payment service providers, applying capital, governance and fit-and-proper requirements, and the Capital Market Authority licenses market intermediaries and collective investment schemes. Fintechs may be able to test products under a regulatory sandbox arrangement, and the Investment Code offers incentives to licensed financial businesses. Engage the regulator early, since licensing typically involves a detailed application and minimum capital.
What should I know about mining and mineral investment?
Mining and quarrying are licensed and supervised by the Rwanda Mines, Petroleum and Gas Board under the mining law, with licences for exploration and exploitation and obligations on the environment and community. Mineral exploration is a priority sector, and holders of an exploration licence can carry forward losses for ten years where exploration makes up at least half of expenditure. Exporters of unprocessed minerals do not get the export tax incentive, so value addition matters. Check licence area availability first.
What is the process for investing in energy projects?
Energy generation, transmission and distribution require licences and approvals from the regulator, RURA, and projects are typically structured around agreements with the state utility or other offtakers. The Investment Code offers a 15% corporate tax rate for renewable generation and a seven-year tax holiday for qualifying projects of at least 25 megawatts with a USD 50 million investment. Environmental clearance and land are also key, and investors under an engineering procurement contract for the Government are excluded from some incentives.
Telecommunications and related network and service licences are issued by RURA, and ICT companies must also comply with data protection and cybersecurity rules. The Investment Code offers a 15% corporate tax rate and, in some cases, a tax holiday for ICT manufacturing, assembly, knowledge-based services and innovation facilities, but excludes telecommunications, retail, wholesale and repair businesses from some of these incentives. Confirm licence categories and any local content or data localisation requirements early.
How do public procurement and PPPs work for foreign companies in Rwanda?
Public procurement is governed by procurement law and overseen by the Rwanda Public Procurement Authority, and tenders are published and submitted through the national e-procurement system. Rwanda also has a public-private partnership framework for infrastructure and service projects. Under Article 63 of Law N° 027/2022 establishing taxes on income, 3% of the invoice amount excluding VAT is withheld when successful bidders are paid, or 15% if the supplier is not registered with the Rwanda Revenue Authority (RRA) or has not filed its income tax return for the previous tax period. Under Article 65, a supplier holding a current RRA tax clearance certificate, or newly registered in the tax period, is exempt. A foreign company with no Rwandan registration cannot hold a tax clearance certificate, so register with RRA before bidding and study the bid documents.
What accounting and audit standards apply in Rwanda?
Under Article 131 of Law N° 007/2021, every company not registered as dormant appoints an external auditor, whose partners must be members of a recognised institute of chartered accountants, and files audited accounts with the Registrar General. For tax, RRA requires financial statements certified by an approved professional where annual turnover is RWF 1,000,000,000 or more (Ministerial Order N° 009/26/10/TC, from 25 September 2026, replacing RWF 600 million). Transfer pricing documentation applies above the thresholds. Keep books for ten years; registered investors report to RDB within three months of year end.
What do I need to do when the ownership of a Rwandan company changes?
Shares pass when the buyer is entered in the register on a signed transfer form. Update the register within 7 days and the index within 14 days, and file beneficial-ownership changes with the Office of the Registrar General at RDB within 14 days. The target company must withhold and pay the seller's 10% capital gains tax within 15 days after the month of transfer. Acquisitions of control may need notifying to RICA within 30 days of the decision to merge, and cannot close before RICA decides (45 days, extendable by 15), with possible COMESA or EAC filings. A 5% stake in a bank needs BNR's prior approval, and 25% of a listed company triggers a mandatory offer. Notify RDB if the target is a registered investor.
A solvent company can be closed in two ways. Under Law N° 075/2021 on insolvency, the shareholders can pass a special resolution appointing a licensed insolvency practitioner as liquidator, who notifies the Registrar General within five working days, pays creditors and distributes the surplus. Or, if the company has ceased business, paid its creditors and distributed its assets, it can apply by special resolution to be removed from the register, with RRA's written no-objection. Deregister for tax on RRA's E-tax at a zero balance, settle RSSB and employee dues, and notify RDB 30 days before terminating if you are a registered investor. Anything left in the company on removal passes to the State.
Where can I check the latest Rwandan law, and who can advise me?
Primary sources include the Official Gazette and the government law portal (amategeko.gov.rw), the Ministry of Justice, RDB, the Rwanda Revenue Authority and RSSB. For advice on your specific situation, engage a licensed Rwandan advocate, a notary and a registered tax adviser, because this site provides legal information, not legal advice. To find a lawyer in Rwanda, search the Rwanda Bar Association's online roll of practising advocates, and see the Be Rwanda Wise guide to finding a lawyer in Rwanda for how to check an advocate before you instruct one. These FAQs are re-checked against official sources every month, but rules change, so always confirm important points directly before you commit.
Ask Be Rwanda Wise's Rwandabot, the AI legal-information chatbot. It checks official Rwandan sources and points you to the governing law, or read how to find and check a Rwandan advocate.
This page gives legal and tax information, not legal advice. Rates, thresholds and procedures change; the answers are re-checked against official sources every month, but you should confirm anything important with the relevant authority or a licensed Rwandan advocate before you act.