National Bank of Angola (“BNA”) Order 10/19, of 6 November 2019, which will come into force on 6 January 2020, established the rules and procedures to be observed in the purchase of foreign currency for foreign exchange operations by natural persons, particularly:

(a) resident operations:
     (i) services operations – “operações de invisíveis correntes”, namely: private operations ordered by natural persons for travel expenses; unilateral private transfers, including for family support, education and health, and the transfer of resources accumulated by a foreign national during his residence in the country on a residence permit, at the end of his stay or mission in the country;
     (ii) private import operations of goods ordered by natural persons;
     (iii) capital operations, namely the acquisition of real estate or foreign securities assets and financing contracted with a foreign financial institution for any purpose;
(b) non-resident foreign exchange operations on a work visa:
     (i) “operações de invisíveis correntes”, namely: the transfer of employees’ remuneration; the transfer of resources imported into the country; the transfer of capital income; and the transfer of resources accumulated during temporary residence in the country, upon termination of stay in the country.

Only capital transactions carried out by individuals are subject to prior BNA licensing. All other transactions covered by this Order are exempt from licensing. Operations to import goods carried out by natural persons are subject to regulation in respect of the rules and procedures applicable to foreign exchange operations for the importation and exportations of goods.

This Order also determines that the volume of all-purpose private transactions carried out in the same calendar year by natural persons, of over 18 years of age, resident for foreign exchange purposes, through the purchase of foreign currency, should not exceed the cumulative amount of the equivalent of USD 120,000.00 when ordered or made on behalf of the same person, regardless of the purpose or payment instrument used. It further determined that the following are exempt from this limit, provided that the client's financial capacity for the requested amounts is assured: payment operations for health, education and accommodation expenses when payments are made directly to service providers, and the transfer of funds accumulated by non-resident foreign nationals during their stay in the country upon termination of same.

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