Angola: New Urban Lease Law – Law n.º 26/15, published on 23 October
NEW URBAN LEASE LAW
This new law establishes relevant aspects related to the formalities applicable to lease agreements, respective duration, limitations on advanced payments, denomination of currency and update of lease payments.
According to this Law, the lease will be mandatorily fixed in Kwanzas, and all clauses defining the lease amount in foreign currency shall not be valid.
The prepayment of the lease for more than three months is now expressly forbidden.
This law will apply to all urban lease agreements signed after its entry into force.