Regulatory Alerts2024-12-10
Instruction No. 08/2024 of December 9 on the Registration and Verification of Beneficial Owners
The Banco Nacional de Angola issued Instruction No. 08/2024 to mandate the registration and verification of beneficial owners for all financial institutions under its supervision. The directive requires these institutions to report detailed ownership, control, and economic interest data—along with supporting evidence and a signed declaration of truthfulness—to the central bank via email by April 30 each year. Non-compliance triggers administrative sanctions under existing financial and anti-money laundering laws, with transitional reporting deadlines set at thirty days from incorporation.
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