Notice No. 01-2016 of April 14: Exchange Policy - Currency Entry and Exit Limits

NOTICE NO. 01/2016
SUBJECT: EXCHANGE POLICY

• Limits on the exit and entry of currency

Considering that the current context of the Angolan foreign exchange market imposes a revision of the limits and procedures for controlling the entry and exit of national and foreign currency; Considering the need, on the one hand, to improve the framework of rules and procedures for the exit and entry of national and foreign currency into the national territory, and on the other hand, to guarantee the continuous prevention and combating of money laundering and terrorist financing; Considering the need for balanced management of the country's foreign exchange availability; In these terms, and in the exercise of the competence conferred upon me by the letter f) of paragraph 1 of Article 51 of Law No. 16/10, of July 15 - Law of the Banco Nacional de Angola, and of paragraph 2 of Article 28 of Law No. 5/97, of June 27 - Exchange Law.

I DETERMINE:

Chapter I
General Provisions

Article 1.
(Object)

1. This Notice aims to establish the terms and conditions that the entry and exit of national and foreign currency, in the possession of resident and non-resident individuals, must comply with.
2. This Notice also defines the model of the "Declaration of entry and exit of cash in foreign currency," annexed to this instrument and forming an integral part of it.

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Article 2.
(Declaration of entry and exit of foreign currency) The declaration referred to in paragraph 2 of the previous article contains an "original" and a "duplicate," being:
a) The "original" - intended for customs services located in the sector of entry or exit of the national territory; b) The "duplicate" - intended for the traveler.

Article 3.
(Exchange residency)

1. For the purposes of this Notice, the following are considered exchange residents:
   a) Individuals who have their habitual residence in the national territory; b) National citizens who are diplomats, consular representatives, or equivalent, exercising functions abroad, as well as members of their families; c) National individuals whose absence abroad, for a period greater than ninety days and less than 1 year, is caused by health reasons, studies, or determined by the exercise of public or private functions that imply residence abroad.
2. For the purposes of this Notice, the following are considered non-resident exchange individuals:
   a) Individuals with habitual residence abroad; b) National citizens who emigrate, as well as those who leave the national territory for a period greater than one year; c) Diplomats, consular representatives, or equivalent, exercising functions in the national territory, as well as members of their families.
3. For the purposes of this Notice, the following are considered habitual residents in the national territory:
   a) All Angolan citizens living in Angola; b) All foreign citizens possessing a residence card issued under the terms of applicable legislation.

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Chapter II
Entry and exit of national currency

Article 4.
(Limits)

1. Resident and non-resident individuals are permitted to enter and leave the country with national currency up to the amount of Kz 50,000.00 (fifty thousand kwanzas).
2. The amount in national currency is not eligible for the calculation of the limits for the entry and exit of foreign currency defined in Chapters III and IV of this Notice.

Chapter III
Entry of foreign currency

Article 5.
(Exchange residents)
Resident individuals who transport, upon entry into the national territory, values exceeding the amount of USD 10,000.00 (ten thousand United States dollars) or its equivalent in another foreign currency, must obligatorily fill out the declaration referred to in Article 2 of this Notice.

Article 6.
(Non-resident exchange individuals)
Non-resident individuals who transport, upon entry into the national territory, values exceeding the amount of USD 5,000.00 (five thousand United States dollars) or its equivalent in another foreign currency, must obligatorily fill out the declaration referred to in Article 2 of this Notice.

Chapter IV
Exit of foreign currency

Article 7.
(Exchange residents)

1. Resident individuals over the age of 18 may freely carry with them, upon exit from the national territory, a maximum amount equivalent to USD 10,000.00 (ten thousand United States dollars).

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2. In cases where travelers are resident individuals under the age mentioned in the previous paragraph, they may carry with them, upon exit from the national territory, a maximum amount equivalent to USD 3,500.00 (three thousand five hundred United States dollars).

Article 8.
(Non-resident exchange individuals)

1. Non-resident individuals aged 18 or older may only freely carry with them, upon exit from the national territory, foreign currency in an amount not exceeding the equivalent of USD 5,000.00 (five thousand United States dollars).
2. Non-resident individuals under the age of 18 may only freely carry with them, upon exit from the national territory, foreign currency in an amount not exceeding the equivalent of USD 1,500.00 (one thousand five hundred United States dollars).
3. Non-resident individuals who, upon entry into the national territory, filled out the declaration provided for in Article 2 of this Notice, may only leave the national territory with foreign currency values exceeding the limits established in the previous paragraphs if they present the duplicate of the said declaration, and in this case, the value cannot exceed the value declared upon entry.
4. The duplicate of the declaration referred to in the previous paragraph must be delivered to the customs services, at the time of exit from the country by the non-resident individual.

Chapter V
Final Provisions

Article 9.
(Sanctions)
Violations of the provisions of this Notice are punishable under paragraph 2 of Article 20 and Article 23, both of Law No. 5/97, of June 27 - Exchange Law, without prejudice to the existence of other liability provided for in general or special penal legislation.

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Article 10.
(Revocation)
All regulation that contradicts this Notice is revoked, notably, Notices No. 1/2012, of January 16, Notice No. 28/2012, of November 1, and Article 4 of Notice No. 12/15, of December 28.

Article 11.
(Entry into force)
This Notice enters into force on the date of its publication.

PUBLISH-
Luanda, April 8, 2016
THE GOVERNOR
VALTER FILIPE DUARTE DA SILVA

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ANNEX I
a. Name of person: a. Name of person/company:
b. Nationality: b. Nationality:
c. Date of birth: c. Date of birth:
d. Place of birth: d. Place of birth:
e. Occupation: e. Occupation:
f. Address: f. Address:
g. Town: g. Town:
h. Post code/Zip: h. Post code/Zip:
i. Country: i. Country:
a. Number: a. Number:
b. Issuing date: b. Issuing date:
c. Place of issue: c. Place of issue:
10. Amount
a. Name:
b. Address:
a. Country of departure: b. Via: c. Country of destination:
Yes No Indicate the number of times you visited the country/Please indicate the number of visits:
Signature of declarant
Original /Duplicate
Original /Duplicate
Republic of Angola Declaration for control of entry and exit of money in the terms of Law nº5/97 of 27th June, published in the D.R., Iª SERIES, Nº 34 Declaration for controls of cash entering or leaving in the terms of Law nº 5/97 of 27th June, publish in D.R. Nº 34, Iª Series

1. Registration Reference
2. Date of receipt of declaration
3. Competent authority to which declaration is made:
4. Country:
5. Type of declaration (please pick the appropriate):
   5.1 Entering in Angola 5.1 Leaving Angola
   Part II: DESCRIPTION OF THE CASH
   Part I
6. Details of declarant 8. Details of owner of cash (if different than the declarant):
7. Passport/ID details 9. Passport/ID details (if known by the declarant)
8. Currency
   TOTAL:
   a) Banknotes, Coins:
   Signature and stamp of competent authority f. Transport Company:
   g. Transport Ref. No. (e.g., flight number)/Transport
9. Is this your first visit to this country?/Is your first visit to this country?
   The undersigned declares that all above details are correct Remarks of the competent authority d. Departure date: e. Arrival date:
10. TRANSPORT ROUTE
11. Intended use
    Part IV: TRANSPORT INFORMATION
12. Means of transport (please tick as appropriate)
    Part III: PROVENANCE AND DESTINATION OF CASH
13. Provenance
14. Intended recipient (if other than you)
    Air Maritime Road Rail Other
    AO

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ANNEX II
DECLARATION OF ENTRY AND EXIT OF FOREIGN CURRENCY DECLARATION OF ENTRY AND EXIT OF FOREIGN CURRENCY General Notes:

1. This declaration is mandatory for all passengers who, upon entry into Angola, carry foreign currency in a value exceeding the equivalent of USD 10,000.00 (ten thousand United States dollars) or USD 5,000.00 (five thousand United States dollars), depending on whether they are, respectively, exchange residents or non-residents.
2. After being duly completed, the declaration must be presented to the customs authorities at the border.
3. A non-resident exchange passenger may take with them out of Angola values exceeding the equivalent of USD 5,000.00 (five thousand United States dollars), provided they keep a copy of the declaration during their stay in Angola, to present it to the customs authorities, so that they are authorized to carry up to the limit of the declared value.
4. Failure to declare or false declaration regarding possession of the aforementioned values implies the seizure of those values and the passenger will be sanctioned under the terms of current legislation.

General Notes:

1. The completion of this declaration is compulsory to all passengers who enter Angola holding an amount over the equivalent of USD 10,000.00 (ten thousand dollars of the United States of America) and USD 5,000.00 (five thousand dollars of the United States of America) being resident or non-resident, respectively.

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2. After being duly completed this declaration should be presented to the customs authorities at the border post.
3. If you are a non-resident carrying out of Angola an amount over or equivalent to USD 5,000.00 (five thousand dollars of the United States of America), please keep the copy of the declaration during your stay and present it to the customs authorities in order for you to be allowed to carry the limit amount you have declared.
4. The failure to declare the aforesaid amounts or false declaration will cause the arrest of such amounts and the passenger will be punished according to the terms of the legislation in force.

Legal framework

1. The completion of this declaration by travelers arriving in the country falls under the compliance with the provisions of Article 14 of the Exchange Law - Law No. 5/97, of June 27, published in DR No. 34, I. Series - as well as this notice.
2. This declaration serves travelers who are holders of foreign currency, upon entering Angola through their land borders, ports, and airports, to inform the competent authorities that they are holders of the said values, so that when they leave the country, in this case, only non-resident exchange individuals, may take them in full or in part.
3. Completion is mandatory for resident travelers who upon entry into the country carry foreign currency in a value exceeding USD 10,000.00, as well as non-resident travelers who upon entry into the country carry foreign currency in a value exceeding USD 5,000.00.

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Entity to whom the declaration is submitted
Once completed, the declaration must be delivered at the customs post through which entry is effected. The customs post must confirm the declaration and give the following destination to its two copies:

• Original - will be kept by the customs post for thirty days, after which it must be sent to the Exchange Authority/Banco Nacional de Angola.
• Duplicate - must be delivered to the declarant who, if they are a non-resident exchange individual, must keep it during the period of stay in Angola and present it at the customs post, upon exit from the country, as proof of possession of foreign currency.

Legal framework

1. The completion of this declaration must be done by the passengers arriving in Angola as set out in article 14 of the exchange law - Law n. º 5/97, of 27 June; published in the DR. n.º 34 - 1st series as well as provided in the BNA Notice 01/2016.
2. This declaration serves the passengers who are holders of foreign currency, as they enter in Angola through their land borders, ports and airports, as a mean to inform the competent authorities that they are holders of some amount, so that when they leave the country they may carry all or part of such amount. This is valid only for non-resident passengers.
3. The completion of it is compulsory for resident passengers carrying money over the amount equivalent to USD 10,000.00 as well as non-resident passengers carrying foreign currency over the amount equivalent to USD 5,000.00.

Entity to whom the declaration is submitted
Once completed, the declaration must be presented at the customs post where the entry is effected. The custom post shall confirm the declaration and give its two samples the following destination:

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• Original - the original shall be kept by the customs during 30 days; as soon as this period expires the declaration shall be submitted to the exchange authority/ Banco Nacional de Angola.
• Duplicate - the duplicate shall be given to the declarant who must keep it during the period he or she stays in Angola, if he or she is a non-resident, and presents it at the customs post when going out of the country as a certificate of possession of foreign currency.

III - Filling the declaration
All fields in blue must be filled in by the declarant using capital letters. The fields in grey are for exclusive use by customs services.
Part I
Clearly indicate your details as mentioned in your passport or identity card (customs entities may extract a copy and keep it attached to the declaration, whenever they deem appropriate). Passport/ID data must be indicated in field 7. 8-9. If you carry money on behalf of someone else, please indicate their details. The same applies to passport/ID data.
Part II
10 a-c. Please indicate the exact value, e.g., 12,500.30.
11 a-c. Clearly indicate in capital letters the currency you are carrying (e.g., Euros, USD, etc.)
Part III
12. Provenance: please indicate if the declared value is related to inheritance, savings, sales, bank account, etc.
13. Please provide the names of the recipients and the address, if it is another person.

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14. Please briefly explain the intended use, e.g., property, investments, etc.
Part IV
15. Please tick the appropriate box: "road" means transport by any type of road vehicle (car, bus, truck, bicycle, motorcycle, etc.); use only the "other" box if no other transport method was used (e.g., pedestrian traffic), in this case specify the transport method in field 16 g (e.g., on foot).
16 a-g: Please provide all information regarding the travel route.
17. If it is your first visit to the country, tick "Yes"; if you tick "No", please indicate the number of previous visits.
The declaration must be signed by the declarant and delivered to the customs post official who will, in turn, deliver the duplicate to the declarant.

III - Filling the Declaration
All parts in blue have to be filled in by the declarant using capital letters. Parts in grey are reserved for use by the customs administration.
Part I
Indicate clearly your details as mentioned in your passport or your identity card (a copy of which might be kept by customs authorities together with this declaration). Passport ID details shall be indicated in box 8. 8-9: If you carry cash on behalf of somebody else, please indicate their details (if known or at least the name and the address). The same applies for their passport ID details.
Part II
10 a-c: Please indicate the exact amount e.g. 12,500.30.
11. a-c. Indicate clearly in capital letters the currency (e.g. US dollars, EUROS, etc.)

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Part III
12. Provenance: please indicate whether the sum(s) declared concern inheritance, savings, sale, bank account, etc.
13. Please provide intended recipient's name and address if other than you.
14. Please explain briefly the intended use: e.g. property, investment, etc.
PART IV
15. Please tick the appropriate box: "road" means transport by any kind of road vehicle (car, bus, truck, bicycle, motorcycle, etc) only use the box "other" if none of the other transport methods were used (e.g. pedestrian traffic). In this case please specify the transport method in box 17 g (e.g. by foot).
16 a-g. Please provide all the information regarding the transport route.
17. If it is the first visit to this country tick "Yes", if you tick " No" please indicate the number of previous visits.
The Declaration has to be signed by the declarant. Upon request an endorsed copy shall be delivered to the declarant (BNA Notice n. º 01/2016).