Angola - Amendment of the foreign exchange regime for execution of foreign exchange operations by natural persons

In brief

It was published Notice 03/2023, of 09 March, of the National Bank of Angola, which establishes the rules to be complied in the execution of foreign exchange operations by natural persons, having revoked Notice 05/2021, of 14 April.

Among the changes introduced by the new diploma, we highlight that foreign exchange non-residents with an employment contract for a period of up to 12 months are exempt from opening a bank account in Angola to receive their remuneration, which may be transferred directly by the paying entity to a foreign bank account held by the foreign exchange non-residents. For foreign exchange non-residents with an employment contract for a period of more than 12 months, the obligation to open a bank account in Angola remains, in which their remuneration must be domiciled, before transferring it abroad.

The Notice enters into force 30 days after its publication date.

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