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New regulations of the Central Bank of Angola

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    According to information from the Central Bank of Angola, the Central Bank of Angola has adjusted the amount of the Angolan currency kwanza and foreign exchange carried in and out of the country by residents and non-residents. The new regulations will take effect in April 2022.

    According to the new regulations, the maximum amount of foreign exchange that residents can carry out of the country (kwanza or foreign currency) does not exceed 10,000 US dollars (about 9,184.25 euros), and for minors under the age of 18, a maximum of 1,000 US dollars (about 918 euros) can be carried in cash. EUR).

    Foreign exchange residents and non-residents, carrying domestic currency or foreign currency with a total value equal to or greater than 10,000 US dollars, must declare to the customs to enter the country in the declared currency, and less than 10,000 US dollars do not need to fill out a value declaration form.

    The declaration form provided at customs upon entry must be completed and signed by the traveller and delivered to the customs agency to verify the information on the form, retain the original and deliver a copy to the traveler.

    Individuals who are not residents of foreign exchange may carry an amount equivalent to the currency they used to enter the country when they leave the country, but they must present an entry certificate of the equivalent amount, and take the currency out of the country by delivering a copy of the declaration form.

    According to the document, border authorities, within their powers, may restrict the exit of domestic or foreign currency as long as the traveller is suspected of any criminal offence, regardless of whether the amount complies with the limits set out in this circular.

    The document defines foreign exchange residents as natural persons with habitual residence in China, nationals exercising functions and powers abroad, diplomats, consular representatives, etc., as well as their respective family members, and natural persons who are not abroad for some reason.

    All foreign citizens and holders of residence cards residing in Angola also fall under the category of foreign exchange residents.

    For non-foreign exchange residents, the document considers individuals who have long-term residence abroad, domestic individuals who have emigrated abroad, and individuals who have been away for more than one year, diplomats, consular representatives, etc., as exercising functions, national territory and their family members.