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Jean-Guy LARRIVIÈRE
Head of International Desk Africa, Middle East

Support by the
Crédit Agricole group

Last updated: August 2021

The International Desk for Africa, Maghreb, and Middle-East provides support to the Group’s business clients in Algeria for the implementation of their operations on location, particularly with opening accounts and providing local financing in Dinar. Since the closure of Crédit Agricole CIB Alger at the start of 2021, depending on the client's needs and our competing banks in the country of origin, it makes use of local frontline partner banks offering a significant network of offices. 

For non-banking services, the International Desk offers the support of local offices (legal/tax advice, aid in establishing businesses) and its partners as well as expertise in business internationalisation.

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Means of payment

With Algeria

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common / Not recommended

Weak / Not recommended

None / Not rcommended

Common / Not recommended

Common

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Advice from the
international desk

General Information

Doing business in Algeria requires investing time to learn about the regulatory environment and to follow the evolution of each new finance law and amendments.
Regarding establishment, the 49/51 rule was repealed in 2020 for resident commercial companies operating in a sector considered to be non-strategic. It is indispensable to make use of a local office for the formalities entailed in forming a company.
Regulations on imports are complex and have seen several successive modifications over the past few years. This reflects the will of the government to limit imports in the context of foreign exchange budgetary restrictions, exacerbated last years by a drop in oil prices.
Although Algeria offers numerous opportunities, you should not forget that there is competition and that the quality of personal relationships is an important factor.

Means of Payment & Banking Specificities

From a regulatory point of view, payments for imports can be carried out by documentary credit, documentary remittance or via a transfer. A deposit is authorised up to the amount of 15% against the issue of an advance payment guarantee.

It should be noted that whatever the payment method, any importation of goods or services must be the object of a direct debit placed by an approved institution and a bank. A certificate of free movement is required for any request for a direct debit. The regulation of the import of goods destined for resale in the state is more strict: at least 30 days before shipment and the creation by the importer of a financial provision of 120% at the lodging bank.

Goods and products that were subject to the provisional import suspension in 2018 are now free to import with the payment of a provisional additional safeguard duty (DAPS). The DAPS applies in addition to customs duties, the rate varies between 30% and 200% depending on the category of products.

A regulatory provision forces economic operators to insure importations with policies from approved insurance companies in Algeria. Morever, FOB incoterm has been strongly recommended since January 1st 2020 and its use is now largely majority in imports.

Independently of the regulatory aspect, it is strongly advised to stick to secure payments via confirmed documentary credit.

In the case that a client, nevertheless, uses documentary remittance and it remains unpaid, it is absolutely necessary to provide the number of the agency concerned when dealing with the sponsoring Algerian bank.

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