Angola - New rules on entry and exit of foreign and national currency

The National Bank of Angola approved Order No. 1/16, of 12 April 2016 (the "Order"). This statute updates the regulation on entry and exit of foreign currency in and from Angola. Under the new framework residents and non-residents may transport national currency while entering or exiting the country, up to a limit of KZ 50,000.00.

With respect to foreign currency: (i) residents purposes may transport the equivalent up to USD 10,000.00 and (ii) non-residents purposes may transport the equivalent up to USD 5,000.00.