Free tool for foreign shareholders
Ten questions, three minutes. The right to transfer dividends abroad depends on how the foreign investment was documented when the money came in, not on the day you want to take it out. The check gives a green, amber or red verdict, the actions to take in order, and the list of documents your bank will ask for.
Was the capital paid up by a foreign-currency transfer from abroad into an account with a Tunisian bank? Do you hold the investment form validated by your account-holding bank, or the bank investment certificate that replaces it, for the initial contribution and for each capital increase? Are the shares held directly by the foreign shareholder, with no nominee arrangement through a Tunisian resident? Can your company obtain the tax clearance certificate of article 112 of the Code of tax rights and procedures? A negative answer to any of these goes to the very right to transfer and must be examined before any distribution.
Capital increases and incorporated profits documented as foreign investment; shareholder loans covered by a written agreement and received in foreign currency through the bank; last year's accounts approved and the distribution decided in proper minutes; withholding tax on dividends paid, 10% under domestic law for a non-resident, with a residence certificate if a reduced treaty rate is applied; minutes registered with the tax collection office and tax return stamped by the administration; list of documents agreed in writing with the authorised intermediary bank before the transfer request.
List from annex 2 of Central Bank of Tunisia circular no. 2018-14. Transfers are executed by a single authorised intermediary bank, with which the company files its permanent record.
See also: repatriating dividends, the full guide · subsidiary compliance check · tax advisory · request a proposal.