On 31 July 2013, the Angola Central Bank adopted Aviso No 13/2013 which describes the rules applying to current invisible operations involving foreign exchange. These rules apply for example to payments for services and transport contracts and salaries, and the use of foreign exchange for travel and educational purposes by Angolan residents.
The rules were published in Angola's official gazette (Diário da República) on 6 August 2013 and will come into force 30 days after this date.
The Aviso liberalises the currently existing rules and is therefore generally welcomed by the Angolan and international business community. It also is part of a more general revision of the Angolan foreign exchange regulations that started in 2011 (in the aftermath of the 2009 foreign exchange crisis in Angola), and were strongly influenced by the new foreign exchange regime applicable to the entities operating in the oil and gas sector (Law No 2/12). Some of the main aspects of the Aviso are described in this client briefing.