The Regulation 1/2016 of the Angolan central bank (“BNA”) entered into force last 12th April, in view of regulating the conditions for entrance and exit of local and foreign currency in Angola either by residents or non-residents.
In relation to entrance and exit of foreign currency, residents are allowed to carry with them an amount of up to US$10,000.00 (ten thousand US dollars) and non-residents may carry an amount of up to US$5,000,00 (five thousand US dollars).
The Regulation allows however any of these individuals to enter into the Angolan territory with higher values, as long as the Entry and Exit of Foreign Currency Statement is duly filled under the terms of the form attached as Annex of the said regulation.
An under aged resident may leave the country with an amount of up to US$3,500.00 (three thousand, five hundred US dollars) and non-residents are allowed to leave with an amount of up to US$1,500.00 (a thousand and five hundred dollars).
Regarding local currency, the Regulation allows both residents and non-residents to enter or leave the Country with a maximum amount of 50,000,00 AOA (fifty thousand Angolan Kwanzas).
Information provided by Neuza Dias of Angolan member firm FBL Advogados
