Exit of Banknotes and Coins from the National Territory

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Monday, March 12, 2018 Number 25
DIÁRIO DA REPÚBLICA
S U M Á R I O
BANCO CENTRAL DE SÃO TOMÉ E PRÍNCIPE
NAP No. 06/2018
Exit of Banknotes and Coins from the National Territory.
SÃO TOMÉ E PRÍNCIPE

No. 25 – March 12, 2018 SÃO TOMÉ E PRÍNCIPE - DIÁRIO DA REPÚBLICA 339 BANCO CENTRAL DE SÃO TOMÉ E PRÍNCIPE Permanent Application Norms – NAP No. 06/2018 Subject: Exit of Banknotes and Coins from the National Territory

Whereas the evolution of counterfeiting has constituted a recurring concern for central banks, judicial authorities, and modern societies in general; Taking into account the exponential increase in cases of attempted exit of national banknotes and coins beyond the national territory, in amounts exceeding the legally defined limit; Considering that it is incumbent upon the Central Bank to regulate procedures regarding purchase and sale, transport, and transfer of banknotes and coins abroad; Becoming necessary to strengthen legal control mechanisms associated with the exit of national banknotes and coins beyond the national territory; In these terms, exercising the competence established by letters b) and I) of Article 8.° and 31.° of the Organic Law of the Central Bank of São Tomé and Príncipe, supported by Article 6.° of the Exchange Law, the Board of Directors of the Central Bank determines the following:

Article 1.°
Object and Scope

1. This norm aims to define the limit for transporting banknotes and coins of the Dobra abroad.
2. Likewise, it regulates procedures and limits for acquiring and transporting foreign exchange from the national territory abroad.
3. This NAP applies to all natural or legal persons, whether resident or non-resident.

Article 2.°
Travelers

1. The exit of banknotes and coins of the Dobra is free up to a limit amount of 5 (five) examples of each denomination, totaling nDb. 1,944 (one thousand nine hundred and forty-four new Dobras), and in the old series Dbs. 944,692.50 (nine hundred and forty-four thousand six hundred and ninety-two Dobras and fifty centavos).
2. The amount exceeding the aforementioned limit shall be seized by the competent authority and delivered to the Central Bank.

Article 3.°
Residents

1. Residents may freely acquire banknotes and coins with legal tender status abroad, equivalent to nDb. 245,000.00 (two hundred and forty-five thousand new Dobras) or Euro 10,000.00 (ten thousand euros), as well as other foreign payment instruments, from authorized exchange entities, to cover travel expenses, tourism, or other charges.
2. For residents traveling abroad, they are permitted to carry or transport foreign exchange (banknotes and coins) corresponding to nDb. 245,000.00 (two hundred and forty-five thousand new Dobras), equivalent to Eur. 10,000.00 (ten thousand euros).

Banco Central de S. T. P. NAP
PERMANENT APPLICATION NORM
CODE S.P 12
Proponent(s) C.A. (Board of Directors)
ENTRY INTO FORCE ISSUE DATE DOC NO. PAGE 1/2
06/03/2018 06/03/2018 06/2018

Article 4.°
Non-Residents

1. Non-residents exiting the national territory who carry more than nDb. 245,000.00 (two hundred and forty-five thousand new Dobras), equivalent to Eur. 10,000.00 (ten thousand euros) in foreign exchange or other foreign payment instruments, excluding credit cards, payment cards, bank checks, or travel checks issued abroad in their name, must, whenever requested by competent authorities, provide proof that they entered São Tomé and Príncipe with an equal or greater amount.
2. For the purposes of the preceding paragraph, proof must be provided by presenting an original declaration, duly completed by the visa holder upon entry into the country with competent authorities, or an authenticated justification of origin issued by a national financial institution, in accordance with prevailing legislation.

Article 5.°
Revocation
NAP No. 21/2009 of December 31 is hereby revoked.

Article 6.°
Entry into Force
This norm enters into force upon its publication in the Diário da República.

Approved
____________ Revocation Data:

No. 25 – March 12, 2018 SÃO TOMÉ E PRÍNCIPE - DIÁRIO DA REPÚBLICA 341 DIÁRIO DA REPÚBLICA NOTICE Correspondence regarding the publication of notices in the Diário da República, its subscription or lack thereof, shall be directed to the Information and Reproduction Center of the Ministry of Justice, Public Administration and Human Rights – Phone: 2225693 - P.O. Box No. 901 – E-mail: cir@cstome.net São Tomé and Príncipe. - S. Tomé. ---