Regulatory Alerts2020-08-30
Added · Updated
Instruction on Implementation Measures for the Exchange Regime of Mining Rights Holding Companies
Mining rights holding companies are authorized to import goods and export production freely under specific exchange declaration models, with global import declarations valid for 12 months and export declarations for 3 months. These entities must maintain foreign and national principal accounts, retaining 60% of export revenues abroad and repatriating 40% within 15 days of collection. A 2 per mille exchange control fee applies to total export revenues and all cross-border payments, with monthly account statements and quarterly trade statistics required for regulatory compliance. Provincial branches monitor fee payments, and the Central Bank reserves the right to verify account regularity.
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