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Angola – Law on the Repatriation of Financial Resources

29/06/18

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.




© 
2018 PwC. This communication is of an informative nature and intended for general purposes only. It does not address any particular person or entity nor does it relate to any specific situation or circumstance. PricewaterhouseCoopers & Associados – Sociedade de Revisores Oficiais de Contas, Lda. We will not accept any responsibility arising from reliance on information hereby transmitted, which is not intended to be a substitute for specific professional business advice.
 

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