Legal Framework
Investment Code 2024
A comprehensive legal framework enacted in December 2024, offering Africa's most investor-friendly protections for foreign capital.
Overview
The 2024 Investment Code (Loi portant Code des Investissements) replaced the 2012 code and marks a significant upgrade in Mauritania's investment climate. The code was drafted in consultation with the World Bank, IMF, and private sector representatives to align with international best practices. It provides three regimes — General, Preferential, and Free Zone — each offering a distinct package of fiscal and regulatory benefits tailored to project size, sector, and location.
Full Profit Repatriation
All profits, dividends, interest, royalties, and capital proceeds may be freely remitted abroad without prior authorisation, capital controls, or withholding restrictions.
Equal Treatment Guarantee
Foreign investors receive the same rights and protections as domestic investors. The state cannot impose discriminatory conditions, apply different regulatory standards, or restrict market access on the basis of foreign nationality.
Stabilisation Clause
For qualifying projects, the fiscal regime in force at the date of the Investment Convention is locked in for the project lifetime, protecting investors against future unfavourable legislative changes.
Key Numbers
December 2024
Date Enacted
5–8 years
Tax Holiday
0%
Import Duty (Setup Phase)
100%
Profit Repatriation
Investment Regimes Comparison
| Regime | Tax Holiday | Import Duty | Profit Repatriation | Land Access |
|---|---|---|---|---|
| General Regime | None | Standard rates | Fully guaranteed | Standard lease |
| Preferential Regime | 5–8 years (full exemption) | 0% during setup | Fully guaranteed | Priority concession |
| Free Zone (Nouadhibou) | 0% CIT years 1–7 | 0% in perpetuity | Fully guaranteed | Zone land-use rights |
Investor Protections
ICSID Arbitration
Mauritania is a signatory to the ICSID (Washington) Convention. The 2024 Code explicitly grants all foreign investors the right to refer disputes to ICSID, with enforcement in 160+ countries.
Bilateral Investment Treaties
Over 30 BITs in force with EU member states, Gulf countries, China, and African neighbours provide additional layers of fair treatment and expropriation protection.
Expropriation Protection
Direct or indirect expropriation of foreign investments is prohibited except for public interest reasons, following due process, and only with prompt, adequate, and effective compensation at fair market value.
Most-Favoured-Nation Status
Investors from BIT partner countries benefit from most-favoured-nation treatment, ensuring they receive no less favourable treatment than any third-country investor.
Anti-Discrimination Clause
The Investment Code expressly prohibits discriminatory treatment on grounds of nationality, origin, or ownership structure. Foreign investors are entitled to equal regulatory treatment in all sectors.
Download the Full Legal Guide
Our detailed investor legal guide summarises the key provisions of the 2024 Investment Code, BIT network, and sector-specific regulations in English, French, and Arabic.