Dar es Salaam, Tanzania - The Tanzania Investment Centre (TIC) is set to unveil an innovative online platform that will revolutionize investor registration. Gilead Teri, the Executive Director of TIC, announced on Monday that the Tanzania Electronic Investment Window (TeIW) is in its final stages of preparation before its official launch.
Speaking at the 43rd special and extraordinary session of the Executive Committee of the Tanzania National Business Council (TNBC), Mr. Teri emphasized that TeIW will provide a convenient avenue for prospective investors to register online, apply for permits and licenses, and even obtain certificates upon completing all necessary formalities.
The introduction of this system is expected to streamline processes, saving valuable time and resources for applicants while enhancing the world-class services offered by TIC. Additionally, TIC has already implemented the Online Work Permits Applications and Issuance System (OWAS), which is integrated with the immigration and labor departments. With OWAS, investors can receive work and residence permits within days of submitting the required documents, bypassing the need for verification by the National Examination Council of Tanzania, the National Council for Technical Education, and the Tanzania Commission for Universities.
Mr. Teri explained, "TeIW will enable prospective investors to access services from the Tanzania Revenue Authority (TRA), Business Registration and Licensing Agency (BRELA), National Identification Authority (NIDA), Land Department, and, of course, our own TIC services." This integration means that applicants will no longer have to visit the physical offices of these departments; instead, they can conveniently access them through TeIW.
While an exact launch date for TeIW has not been provided, Mr. Teri expressed confidence, stating, "After successful trials this month, we should be able to launch the system in the near future." The TIC's initiative to introduce the TeIW platform demonstrates Tanzania's commitment to attracting and facilitating investments, leveraging technology to simplify processes and create a favorable business environment for both local and foreign investors.