Press Releases

January 22, 2013

Rules on the inflow and outflow of national and foreign currency

The National Bank of Angola has, during the current year, established new rules applicable to the inflow and outflow to and from national territory of foreign and national currency, by resident and non-resident natural persons.

These new rules were approved by Notice Nº 1/12, of 27 January, and Article 8 of Notice No 1/12, of 16 January, was amended by Notice Nº 28/12, of 1 November, published in the Official State Gazette, 1st Series, Nº 19, and by the Official State Gazette, 1st Series, Nº 210, respectively. The Notices are available for consultation on the National Bank of Angola website (www.bna.ao).

Concerning the outflow of currency, the limits applicable to natural persons are as follows:

Foreign Currency
(i) residents
aged 18 or over
 USD 15.000,00
under 18
USD 5.000,00
(ii) non-residents
aged 18 or over
USD 10.000,00
under 18
USD 3.000,00
National Currency
Resident/non-resident natural persons
Kz 50.000,00
Note: USD or equivalent in any other foreign currency
There is a still a requirement whereby, when entering national territory, a declaration is made in Alfanfega, using a standard form, for amounts transported exceeding USD 15,000.00 for resident natural persons and exceeding USD 10,000.00 for non-resident natural persons, or the equivalent amounts in another foreign currency.

For the purposes of compliance with such rule, residents are understood as natural persons with their habitual residence in national territory, i.e. all Angolan citizens residing in Angola, and all foreign citizens holding a residence card, issued pursuant to existing legislation.

Citizens with doubts concerning their status as resident for the purpose of changing money must consult a commercial bank or the Currency Control Department of the National Bank of Angola.

The strict compliance of this rule is recommended, under penalty of incurring a currency transgression leading to value confiscation. Similarly, citizens travelling abroad are advised to use international network bank payment cards (credit cards, pre-paid cards) as an alternative to cash, as these provide greater safety and comfort.