Investing in Algeria has become significantly more attractive for foreign companies since the 2022 Investment Law reshaped the rules. Algeria’s investment landscape is built upon a civil law system, which offers high predictability through codified texts. As a result, the regime has shifted toward controlled openness, notably allowing foreign investors to maintain 100% ownership in most sectors — a clear break from previous restrictions.

To navigate this framework successfully, your strategy should therefore begin with a clear understanding of entity structuring and regulatory registration:

• Entity Selection: For large-scale industrial projects, the Joint Stock Company (SPA) is often preferred for its formal governance architecture. In contrast, the Limited Liability Company (SARL) offers more flexible management for smaller ventures.
• The AAPI Gateway: It is essential to register your project with the Algerian Investment Promotion Agency (AAPI). This registration is not just a formality. Indeed, it is the legal trigger that secures your right to repatriate dividends and protects your investment under state guarantees.
• Operational Mechanics: For those pursuing growth through M&A, share deals are the dominant structure. This is because they allow for a rapid transfer of control while maintaining the continuity of essential administrative licenses.

Meanwhile, strategic sectors—such as energy, mining, and banking—remain subject to specific ownership rules (the “51/49” rule) and prior authorizations. Overall, however, the regulatory trend focuses on facilitating long-term commercial presence.