Angola – Rules for Carrying Out Foreign Exchange Transaction By A Natural Person – 9 April 2023

On 9 March 2023, the National Bank of Angola published notice 2/13 in the Diário da República introducing new foreign exchange control laws, the new laws came into effect on 9 April 2023. Among the changes introduced includes payments to foreign exchange non-residents with an employment contract in Angola, see below rules:

Payment of net earnings to non-residents country of origin

• Employees with contracts duration of 12 months or more must open a bank account with a bank domiciled in Angola for which their net earnings will be transferred by the employer.
  • Employees can order bank transfers abroad by themselves – Proof of the existence of Work or investor visa, Employment contract authorized and registered with the Employment Centre will be required.
• Employees with contracts of up to 12 months:
  • May be paid by the national employer through direct bank transfers from the employer to the employee’s destination account in their country of origin.
  • The 12 months are controlled by the number of bank transfers ordered by the employer.                                                   

Please contact your Mercans’ services delivery team for any additional information regarding the implications of the above change.

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Angola – Rules for Carrying Out Foreign Exchange Transaction By A Natural Person – 9 April 2023

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