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ANGOLA FOREIGN EXCHANGE POLICY NOTICE NO. 15/2019, OF 30 DECEMBER
FOREIGN EXCHANGE POLICY
The Angolan Central Bank (Banco Nacional de Angola – “BNA”) recently approved Notice no. 15/2019 on the procedures for foreign investment operations carried out by entities qualified as non-residents for foreign exchange purposes.
NOTICE NO. 15/2019, OF 30 DECEMBER
BNA Notice no. 15/2019 (the “Notice”) establishes the procedures for foreign exchange transactions made by non-residents concerning: (a) foreign direct investment; (b) foreign investment in securities; (c) any disinvestment of the assets referred to in the preceding subparagraphs; and (d) income from investors referred to in (a) and (b).The Notice applies to all participants in foreign exchange operations, namely, natural or legal persons, qualified as non-residents for foreign exchange purposes, and to Banking Financial Institutions under the supervision of BNA.The Notice relates to foreign exchange transactions concerning foreign investment projects which have been registered with the BNA prior to the date of its publication. Investments made by non-residents in the oil sector are excluded from the scope of the Notice.The Notice revokes BNA Notice No. 13/2014 and BNA Notice No. 14/2014, both of 24 December, BNA Notice No. 1/2017, of 3 February, and all provisions of BNA Instruction No. 1/2003, of 7 February, contrary to that foreseen in the present notice.The Notice entered into force on the date of its publication.