Angola – Law on the Repatriation of Financial Resources

In brief

It was recently published the Law on the Repatriation of Financial Resources, approved by Law nr. 9/2018, 26 June, which establishes the terms and conditions for the repatriation of financial resources held abroad by resident individuals and legal entities with registered office in Angola.

In detail

Individuals and legal entities who voluntarily repatriate their financial resources within a period of 180 days following the date of entry into force of this Law, by transferring the funds to an Angolan bank account, will be exempt from any obligation or liability of tax, foreign exchange and criminal nature.

Upon the expiry of the period for the voluntary repatriation, the Law establishes the possibility of coercive repatriation by the Angolan State of financial resources resulting from unlawful operations, which revert in favor of the Angolan State.

This Law entered into force on 26 June 2018.

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