On 3 August, Order no. 17/20 was published in the Official Gazette, updating and clarifying the rules and procedures to be followed by resident and non-resident natural persons when carrying out foreign exchange transactions involving the purchase of foreign currency or the transfer of own resources in foreign currency, and revoking Order no. 12/19 of 2 December 2019.
Order no. 17/20 applies to operations already provided for in Order no. 12/19 of 2 December 2019, now revoked, and the main novelties are the following:
• Inclusion in the concept of Non-resident of employees who carry out a paid activity in the country;
• Transfers of resources imported into the country and declared upon entry by residents are exempt from the established annual limits;
• In Current Invisible Operations regarding Non-Residents, non-resident employees who carry out an activity remunerated in the country are required to open a non-resident account with a banking financial institution based in Angola, in which their income shall be domiciled;
• Income transfers abroad can no longer be made by debiting the employer's account.
This Order shall enter into force 30 days after the date of publication.