Compliance and Advisory

As regulatory requirements become ever more complex, companies face an array of compliance challenges in a variety of areas, challenges that if mismanaged could lead to severe penalties. As with other countries, Tanzania has moved towards stricter enforcement of compliance with the law.

Tanzania’s regulatory environment is fast changing and for companies to keep up and adhere to these requirements, a thorough understanding of compliance is crucial in addition to a well thought out compliance implementation plan. Lack of compliance with regulation can expose you to significant risk and personal liabilities.

Due to the increase in demand for compliance and advisory services, FB Attorneys has a specialised Compliance and Advisory Department. We provide strategic advice on regulatory compliance to our corporate clients on the legal issues which most regularly impact their businesses including risk mitigation.

We maintain close contacts with regulators and hence understand government, business and policy environments in which the decisions affecting our clients are made.

What we do:

Risk Assessment

Compliance training and monitoring

Legal update for new development in various areas of law

Representation before regulatory authorities

Assist Investor and employer to file their permit applications

Company formation, administration and filings

Sectoral Approval, Licencing and Renewal

Drafting of compliance policy

Review of client compliance procedure and policies.

Our experience in Compliance and Advisory

Conducted on site compliance
audits for our clients.

Drafted compliance policies and advised clients on its implementation.

Provided corporate compliance training.

Negotiated for settlements and approached authorities for investigations or prosecutions on regulatory breaches.
Advised clients on various licenses and permits required for specific projects.
Assisted companies to incorporate a subsidiary in Tanzania.
Registered branches of various international companies in Tanzania.
Obtained approval and licenses from various regulated sectors for new startups and also exiting entity.
Advised listed companies on the adoption and amendment of their articles of association to reflect changes in legislation and the Listing Rules and general market practice.
Prepared notices for the annual general meetings including reviewing annual reports and accounts, business reviews, directors’ remuneration reports and notices of meetings, corporate governance issues.
Assisted client to increase the share capital and advised on the shareholder rights including redenomination of share capital, class rights, conversion rights, redemption and transfer of shares or other securities and financial assistance issues.
Advised client for directors’ indemnification and directors’ and officers’ liability.
Assisted client in processing Business visas, short/long term work and residence permits, entry clearances and entry visas.
Document procurement, including acquisition, translation, legalization and attestation.
Guidance and assistance with work and residence permit applications for Class A investors and employees (Class B/C).
Guidance and assistance for filing applications of dependent/family member passes processing, volunteer passes and student passes.
Advised governments and industry clients on restructurings, regulatory initiatives and transactions.
Advised clients on matters such as legislative changes, price control, procurement and other aspects of regulatory strategy.
Advised client on merger control work with regulatory sectoral issues.
Assisted in filing for a certificate of incentives, obtained the derivative rights for access to land for investment purpose for foreign companies, assisted to obtain TIC work and residence permits, and also guided and assisted clients for Environment Impact Assessment study for new business investments.
Consulted for one of the biggest inland container depos on compliance and expansion.
Consulted for a client who intend to go public in the Dar es Salaam stock exchange.
Consulted for a publicly listed company on compliance issues pertaining to public disclosures.
Consulted for one of the largest manufacturers on compliance with the Occupational and Safety Health Act and the Tanzania Bureau of Standards.
Regularly present to board of Directors on compliance and statutory obligations of directors.
Currently assisting the companies in regularizing the company records and filings under the new BRELA ORS filing systems.
Work closely with all key regulators including the Energy and Water Utility Authority (EWURA), Tanzania Investment Centre (TIC), Sumatra, SSRA, TCAA, TCRA, Fair Competition Commission (FCC), National Environmental Management Council (NEMC) amongst others.