Doing Business in Rwanda: A Sector-by-Sector Guide for Investors and Their Counsel (Zenodo)

Summary

• Rwanda's economy grew 9.4% in 2025, according to the National Institute of Statistics of Rwanda, and output in the first quarter of 2026 was 10% higher than a year earlier.p.5
• The standard corporate income tax rate was reduced from 30% to 28%, alongside preferential rates such as 15% for priority activities and tax holidays up to seven years for investments of at least $50 million.p.6
• Under investment promotion law, registered investors who invest at least $250,000 can recruit up to three foreign employees without proving a local skills shortage.p.7
• Mineral export earnings reached approximately $1.75 billion in 2024, up from $373 million in 2017, with gold accounting for about $1.5 billion.p.18
• Tourism revenue reached $685 million in 2025 from 1.49 million visitors, with gorilla tourism contributing $248 million.p.20
• A 0% corporate income tax rate applies to regional offices of international companies that invest at least $10 million and route at least $5 million annually through a licensed bank in Rwanda.p.22

Key insights

1. Rwanda scored 58 on Transparency International’s 2025 Corruption Perceptions Index, ranking 41st globally.p.5
2. Gains on the sale of shares and securities are taxed at a standard rate of 10% under tax laws updated in May 2025.p.6
3. Foreigners generally hold land in Rwanda through emphyteutic leases for up to 99 years, while freehold requires presidential approval.p.7
4. Administrative fines under the personal data protection law can reach up to 1% of an entity's global annual turnover.p.8
5. Installed electricity generation capacity reached about 467 MW in December 2025, targeting 1,066 MW by 2034.p.12
6. The legal framework governing banks was modernised in May 2024, permitting foreign banks to open local branches.p.13
7. A 1.5% digital services tax applies to foreign platforms operating with a substantial presence in Rwanda.p.15