Regulatory Alerts2023-12-28
Foreign Exchange Limits for Service Payments, issued pursuant to the Foreign Exchange Regulation of December 28, 2023
The Banque de la République du Burundi issued Circular No. 001/RC/2023 to establish foreign exchange limits and documentation requirements for service payments processed by authorized intermediaries. The regulation specifies capped allowances for professional and personal travel, including healthcare (up to 10,000 USD), overseas training (5,000 USD annually for installation and 3,000 USD per quarter for subsistence), tourism (5,000 USD per trip), and business travel (10,000 USD per trip). It further mandates that applicants submit specific supporting documents, such as mission orders and airline tickets, while requiring unused healthcare funds to be repatriated and tuition fees transferred directly to educational institutions.
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