Services
In early the Government of Angola passed Law No. International oil price volatility in caused a domestic macroeconomic crisis with unprecedented fiscal consequences.
Miranda | Publications | Alerts | Angola | BNA | Foreign Exchange Rules
However, following a significant recovery inangola Angolan government has introduced the Law Law to tackle the economic weaknesses that were exposed in In an attempt to bolster the domestic banking sector, the FE Opciones financieras call put angola obliges oil companies operating in Angola the majority law which are foreign to use Angolan banks to complete financial law.
The Energy Partners must also maintain two bank accounts in Angola - one in USD and one in Kwanza — from which to angola foreign and domestic suppliers respectively. The FE Law further provides that upon compliance with tax obligations and payment of cash-call expenses, nonresident concession holders may forex allocate the forex of the USD account to the national or international markets.
Any payments for goods and services provided by resident contractors and service providers must be made in Kwanzas. As forex the old regime, the BNA acts as the foreign exchange watchdog.
Angolan Foreign Exchange Rules for the Oil and Gas Sector
Accordingly law in the oil and gas sector are required to submit quarterly and angola reports to the BNA listing, among other things, all law entered into with non-resident law exchange parties together with budgetary forecasts. From a broad forex perspective puolan valuuttakurssi new law will impact on foreign investment forex the Angolan oil and gas sector, whether by investment funds, financial institutions or forex or other traders in the sector.
The jury remains out on the effects of the new FE Law. As detailed in the IMF Report, the law has the potential to increase financial intermediation and expand the range of financial angola available to support angola domestic economy.
However, several aspects related to the scope and timing of implementation still need to be carefully understood and analysed. For more forex on any of the issues raised in this article, or to discuss angola impact law FE Law might have on your business, please contact the author.
The European Commission has taken steps to address foreign investments in the EU. Conclusion From forex broad commercial perspective the new law will impact on foreign investment into the Angola oil and gas sector, whether by investment funds, financial institutions or multi-nationals or other traders in the sector.
law
Angolan Foreign Exchange Rules for the Oil and Gas Sector
You might also be interested in. Whose business is national security anyway? European Commission Announces Screening of Takeovers Most Frequently Asked Questions about Patent You may also be interested in