Only those foreign investors meeting a minimum investment requirement of MZN 7,500,000 [approx. USD 117,000] (up from MZN 2,500,000 [approx. USD 39,000] until 2020) or meeting certain income, exports, and employment thresholds were initially eligible for capital and profit repatriation guarantees. However, Law No. 8/2023 and its implementing Decree No. 8/2024 reduced this threshold to MZN 6,500,000 [approx. USD 101,000]. Additionally, Law No. 28/2022 had previously granted the Bank of Mozambique discretion over capital repatriation approvals, but this requirement was fully abolished by Notice No. 4/GBM/2024, effective April 2024. As a result, capital and profit repatriation is now liberalised, although the minimum investment condition remains a prerequisite for benefiting from repatriation guarantees.
"Article 1 Subject 
This Notice establishes the regime for the liberalization of capital operations and other exchange operations.
[...]
Article 3 Capital operations and other liberalized exchange operations
1. The capital operations and other exchange operations established in this Notice do not require authorization from the Bank of Mozambique.
2. Capital operations and other exchange operations not indicated in this Notice are subject to the authorization regime provided for in the Notice on Standards and Procedures for Carrying out Exchange Operations.
Article 4 Liberalized capital operations
The following capital operations do not require authorization from the Bank of Mozambique:
a) foreign direct investment; [...]
l) export of invested capital, in the case of partial or total disinvestment, or liquidation." (Notice No. 4/GBM/2024 of March 21, 2024, adopted April 20, 2024, Articles 1, 3 and 4 [google translation])
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"Foreign direct investment
Article 4 (Minimum value of foreign direct investment) 
1. The minimum value of foreign direct investment, resulting from the contribution of the investor's own capital, is set at the equivalent of 6,500,000.00 MT (six million and five hundred thousand meticais), for the specific purposes of transferring profits abroad and of invested and re-exportable capital.
2. For the purposes of the provisions of this Regulation, foreign direct investment corresponding to the sum of the values ​​related to the headings provided for in article 16 of Law no. 8/2023, of 9 June.
3. The implementation of foreign direct investment, using exportable profits, must be preceded by prior confirmation from the Bank of Mozambique of the value of the investment actually made in the project.
4. The change in the minimum value of foreign direct investment is made by ministerial decree of the Minister who supervises the area of ​​Finance, after consultation with the Governor of the Bank of Mozambique. [...]" (Decree No. 8/2024, Approves the Regulation of Law No. 8/2023, adopted 7 March 2024, Article 4 [google translation])
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"Exchange Transactions 
Article 27 (Liberalization of exchange transactions) 
1. The carrying out of exchange transactions classified as current transactions is not subject to authorization by the Bank of Mozambique.
2. The Bank of Mozambique establishes the authorization conditions relating to the carrying out of capital operations and other exchange operations.
3. For the purposes of paragraph 2 of this article, the Bank of Mozambique must take into account the macroeconomic and financial situation of the Country, in particular, the balance of payments situation and the conditions of the foreign exchange, financial and monetary markets.
Article 28 (Foreign exchange transactions)
1. Foreign exchange transactions are classified as:
a) current transactions;
b) capital transactions;
c) other foreign exchange transactions.
2. Current transactions are understood to mean any payments or receipts in foreign currency that are not for the purpose of transferring capital, including, inter alia, those related to foreign trade, remittances of securities and other current obligations, under the terms established by the Bank of Mozambique.
3. Capital transactions are considered to mean any payments or receipts in foreign currency that are for the purpose of transferring capital, namely:
a) foreign direct investment; [...]" (Law No. 28/2022, of December 29, adopted January 28, 2023, Articles 27 and 28 [google translation])
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"ARTICLE 2
Scope of application
1. The provisions of this Regulation apply to private investments, national and foreign, carried out under Law no. regularly constituted.
2. The investments mentioned in this article, even if not eligible for the tax incentives defined in specific legislation, may benefit from the guarantee of exporting profits and re-exporting the invested capital.
[...]
CHAPTER III - Foreign Direct Investment and ways of carrying it out
Article 6
(Minimum amount of foreign direct investment)
1. The minimum value of foreign direct investment, resulting from the contribution of equity capital by foreign investors, is fixed at the equivalent of 7,500,000.00MT (seven million five hundred thousand meticais), for the specific purposes of transferring profits abroad and of re-exportable invested capital.
2. Foreign investors whose activities meet at least two of the following requirements are also eligible for the right to transfer profits and re-export invested capital: a) It generates annual sales volume not less than three times the amount established in paragraph (1), from the third year of activity; b) Annual exports of goods or services are at least in the amount equivalent to 4,500,000.00MT (four million five hundred thousand meticais); c) Create and maintain direct employment for at least twenty-five national workers, enrolled in the social security system from the second year of activity.
3. The adjustment of the minimum amount of foreign direct investment is approved by Ministerial Diploma of the Minister who oversees the area of Finance, after consultation with the Governor of the Bank of Mozambique.[...]" (Decree No. 43/2009 of 21 August on the Regulation of the Investment Law, as amended by Decree 20/2021 of 13 April [google translation])
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"Chapter I. General provisions
Article 1. Definitions
1) For the purposes of this Law, the following definitions shall apply: [...]
j. Foreign investor — individual or corporate person bringing to Mozambique from abroad capital and resources belonging to or at the own account and risk of the said person, with a view of carrying out direct foreign investment as defined in paragraph 1m) of this Article, in a project under this Law;
l. National investor — individual or corporate person who makes available capital and resources belonging to or at the own account and risk of said person, with the aim of carrying out direct national investment, as defined in paragraph In) of this Article, in a project approved in accordance with this Law;
m. Direct foreign investment — any form of foreign capital contribution valuable in monetary terms which constitutes own equity capital or resources at the own account and risk of the foreign investor, brought from external sources and to be used in an investment project for carrying out an economic activity, through a company registered in Mozambique and operating from Mozambican territory; [...]
q. Foreign person — any individual whose nationality is not Mozambican, or, in the case of a corporate person, the company originally formed under the legislation of another country, or which, having been formed in the Republic of Mozambique under Mozambican laws, has more than 50% (Fifty percent) of the respective share capital held by foreign persons, as provided for in paragraph 2 of this Article;
r. Mozambican person — any citizen of Mozambican nationality or any company or institution formed and registered under Mozambican laws, with headquarters in the Republic of Mozambique, and in which the respective share capital belongs at least 50% (Fifty percent) to Mozambican citizens, companies or institutions, whether private or public;[...]" (Law No. 3/93 of 24 June on Invesment)
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Previously up to 2020
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"Article 6
(Minimum amount of foreign direct investment)
1. For the specific purposes of eligibility for external remittance of profits and re-export of invested capital, the minimum value of foreign direct investment using the equity capital of a foreign investor is set at two million five hundred thousand Meticals (2,500,000.00 Mts).[...]" (Decree No. 43/2009 of 21 August on the Regulation of the Investment Law [unofficial translation])
Notice No. 4/GBM/2024 of March 21, 2024, adopted April 20, 2024
Decree No. 8/2024, Approves the Regulation of Law No. 8/2023, adopted 7 March 2024
Law No. 28/2022, of December 29, adopted January 28, 2023
Decree No. 43/2009 of 21 August on the Regulation of the Investment Law, as amended by Decree 20/2021 of 13 April
Law No. 3/93 of 24 June on Investment
Decree No. 43/2009 of 21 August on the Regulation of the Investment Law
[<a href="https://www.bancomoc.mz/pt/o-banco/normativos/?query=&page=3">Notice</a>],[<a href="https://archive.gazettes.africa/archive/mz/2024/mz-government-gazette-series-i-dated-2024-03-07-no-48.pdf">Decree</a>],[<a href="https://www.millenniumbim.co.mz/media/6071/lei-cambial.pdf">Law</a>],[<a href="https://gazettes.africa/archive/mz/2021/mz-government-gazette-series-i-dated-2021-04-13-no-69.pdf">Amendment</a>],[<a href="http://invest.apiex.gov.mz/wp-content/uploads/sites/4/2019/08/Investment-Regulations-43-2009.pdf">Decree</a>],[<a href="https://investmentpolicy.unctad.org/investment-laws/laws/108/mozambique-investment-law">Law</a>],[<a href="https://www.bancomoc.mz/pt/media/noticias/banco-de-mocambique-promove-sessao-de-divulgacao-de-novos-normativos-cambiais/">Other</a>],[<a href="https://clubofmozambique.com/news/mozambique-central-bank-announces-removal-of-barriers-to-investment-trade-260022/">Other</a>],[<a href="https://www.standardbank.co.mz/content/download/78129/1907294/file/New%20Regulatory%20Framework%20for%20Exchange%20Control%20-%20Key%20Changes.pdf">Other</a>],[<a href="https://www.unido.or.jp/files/Legislation_on_Investment_in_Mozambique.pdf">Other</a>]