Work in Angola.
If you are planning to work in Angola, it is worth noting that it has one of the fastest growing economies in the world. In this article you will find useful information about job search, taxation and other useful tips to make the most of your working life in Angola!
Oil accounts for more than 90% of the country’s export earnings, but also important exports. it’s diamonds. In the north-east of the country, there are extensive diamond reserves, with 70% of them being of high quality.
The National Bank of Angola controls the financial system of the country, and since oil and diamonds are currently the main economic resource, agriculture in recent years has declined significantly (especially after the civil war). Before the financial crisis, the country had one of the world’s highest average annual growth rates of gross domestic product and even after its growth rate was about 6%. However, poverty is still prevalent throughout the country.
Job search in Angola.
When moving to a country, it is better to look for work in advance. As the country’s main industry is in the oil sector, any foreigner is likely to look for work in this sector. Websites such as Rigzone.com regularly display jobs in Angola. However, this is a plus if you have the Portuguese language skills, since this is the language of the locals. There are also other job search sites, such as oilandgasjobsearch.com and careersinafrica.com.
The majority of the population of Angola is still engaged in agriculture, so there is a need for highly qualified engineers, which means that for emigrants wishing to move to the country, there are many opportunities in this industry. As a result of huge investments from abroad in the oil sector, the work there is usually paid very well, but it is worth remembering that the cost of living in the capital is high. In fact, for the second consecutive year, Luanda was considered the most expensive city for emigrants in the cost-of-living study conducted by Mercer in 2014.
Taxation of income in Angola.
The income tax system in Angola means that your employer will deduct a monthly amount from your salary. However, there is also an annual tax. All that you earn in Angola is taxed, and it happens from 5% to 17% of your monthly income. As a rule, the sum of taxes of emigrants falls into the highest category, since wages are in the highest band.
If you have found a job in advance, you can check with your employer about the regulation of the equalization of taxes that should be included in your contract, as this will allow you to balance the tax rate that you pay in Angola with what you paid in the country, in who lived before.