CPO/CEB-2001/2: Importation of Foreign Currencies

Instruction CPO/CEB/2001/ 02
Importation of Foreign Currencies
I. Authority
The Central Payments Office (CPO) issues this Instruction pursuant to the provisions of sections 6 and 7 of the UNTAET Regulation 20001/14 on the Official Currency and Legal Tender of East Timor, of 20 July 2001. (hereinafter “Regulation”).
II. Definitions
Wherever used in the present Instruction, the following terms have the meaning defined in Section I of Regulation: “affected foreign currency, Central Payments Office, foreign currency, person and US dollars US$”.
III. Restriction on Currency Importation
1. No person shall import into East Timor an “affected foreign currency” or a foreign currency
other than an affected foreign currency in excess of amounts set forth in this Instruction unless such person shall have first obtained from the Central Payments Office a permit for the same in accordance with the provision of the Regulation and this Instruction.
2. The permit is required for any person that will import into East Timor.
a). an “affected foreign currency” in excess of the equivalent of US$500 b). any foreign currency other than an “affected foreign currency” in excess of the equivalent of US$2,000.
3. The limits set forth in Section III.2 of this Instruction shall apply with respect to the sum of all
foreign currencies imported by a person during each calendar month.
IV. Application Procedure
The application for a permit to import “affected foreign currencies and/or foreign currencies” shall be made in writing to the Central Payments Office on the application form attached to the Instruction as
Annex I. The application form may be collected from the Central Payments Office. The CPO will
issue one license per application.
V. Fee
An application for a permit to import currencies must be accompanied by a non-refundable application processing fee in the amount of US Dollars 50.00 (US $ fifty). The Central Payments Office will not process any application for which the applicable fee has not been paid.
VI. Requirement
1. The application must be completed in duplicate and must clearly state the:
a). currency for which the permit is sought b). the amount of the currency c). the source of the currency (account, etc) d). the institution and country from which the currency is being sourced e). the mode of transporting the currency into East Timor

f). the projected date of importation g). the purpose for which the currency is being imported h). whether the permit is for single use or multiple use.
2. The application must be signed by:
a). where the application is natural person, the applicant; b). where the applicant is a juridical person, at least two persons legally authorized to sign on behalf of the jurisdiction person.
3. The applicant should include at least the following documents in the application.
a). signed declaration that the applicant has never been convicted, there is no pending charge against the applicant related to financial crime and has never been subject to an insolvency proceeding as a debtor; b). copy of the permit issued by the relevant authorities to export currency in the case of “affected foreign currency”, or copy of declaration to customs authority for other currencies, if pertinent; c). copy of bank account and balances or any other document evidencing the applicant is the effective owner of the currency.
4. The Central Payments Office may, at its sole discretions, request the applicant to provide
additional information or documentation to support the application.
July 30, 2001
Fernando DePeralto
General Manager, Central Payments Office
C:/My Documents\DollarizationinstructiononCurrencyImportation.doc

UNITED NATIONS TRANSITIONAL ADMINISTRATION
EAST TIMOR
CENTRAL PAYMENTS OFFICE
Application for Permit to Import Currency
References: ___/

1. Type of Application (check only one)
   New Application
   Renewal Application
   Other (specify)

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2. Currency:
   Name of Currency:

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Amount:

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Date of Importation: (DD/MM/YY)

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3. Details of Applicant
   a) Individual a). Name of Applicant b). Full Address of Applicant c). Nationality d). Identification or Passport number Occupation e). Mode of Transporting currency into E.Timor f). Source of Currency (country/Institution/account) b). Business a). Name of business b). Full Address of business c). Natural of business d). Business Registration Number Tax identification number e). Mode of Transporting currency into E.Timor f). Source of Currency (country/Institution/account)
4. Reason for Importing Currency

_________________________________________________________________________________ For Official Use Approved Not Approved Single use ( ) multiple use ( ) Permit No. Expiration date:
Remark
Signature &
Date …………………………….
……………………………..

5. Supporting Documents
   Permit of Issuing Authority Attached YES NO
   Source of Funds YES NO
6. Declaration:
   The undersigned declare (s) that:
   a). all the information provided in this application is to the best of my/our knowledge complete and true; b). has never been convicted and there is no pending charges against the applicant related to finance crimes; c). has never been subject to an insolvency proceeding as a debtor. Signature………………………………… ……………. Date:………………………………… . Note: The Central Payments Office may request the applicant to provide additional information or documentation to support the application. FOR OFFICIAL USE ONLY Record or Currency Imported Date Currency Amount Signature of Recording Officer