Regulatory Alerts2022-07-10
Added · Updated
Notice No. 14/2022 of July 5 on Foreign Exchange Policy for Capital Operations by Resident Corporate Entities
The Central Bank of Angola issued Notice No. 14/2022 to update foreign exchange regulations governing capital operations by resident corporate entities. The notice delegates licensing authority to commercial banks, mandates rigorous customer due diligence and transaction evaluation, and requires the repatriation of profits and dividends within 60 days. It establishes strict reporting obligations, penalties for non-compliance, and repeals prior instructions to streamline cross-border financial transactions.
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