New regulations published by the National Bank of Angola have updated the rules on bank accounts (in foreign or domestic currency) held in Angola by non-residents for foreign exchange purposes.

According to the updated rules, non-residents (companies and inidividuals) are allowed to have bank accounts in any currency in Angola, although the use of such accounts is now limited.

As such, even though bank accounts in Kwanzas can be opened and used for generic purposes, bank accounts in a foreign currency can only be used to receive transfers from abroad or any income from financial assets held with such bank. In accordance, non-residents are, as from February 2017, not allowed to open bank accounts in a foreign currency for any other purpose.