Angola will introduce this month new terms and conditions for the settlement of goods and services provided by domestic currency entities to non-domestic currency maritime operators, according to Legis-PALOP + TL.
As of April 24, 2021, the payment of port call expenses to port service providers must be made only in foreign currency, regardless of whether it is carried out by the maritime operator or by its shipping agent, and such providers must issue invoices to maritime operators for such expenses in foreign currency only, notice no. 2/21 of 24 March, establishes.
In turn, maritime operators must settle the amounts due to Port Service Providers in one of the following ways:
⦁ Bank transfer in foreign currency to a bank account domiciled in Angola and held by the port service provider or by its shipping agent, for subsequent credit to the port service provider;
⦁ Transfer from an account of a non-domestic currency entity held by the maritime operator, denominated in foreign currency, domiciled at a bank based in Angola.
Legal Update: New Rules in Angola for Pre-Packed Products Imports
Shipping Agents and Port Service Providers must ensure proper reconciliation between billing and foreign currency revenue deposited in their bank accounts domiciled in Angola and maintain adequate evidence of such reconciliation for the purposes of inspection by the National Bank of Angola.
Under penalty of fines that amount to about USD 240,000 (150,000,000 Kwanzas), the obligations indicated above must be fulfilled by Banking Financial Institutions domiciled in Angola (Commercial Banks).
Under penalty of fines whose values amount to approximately USD 30 000 (21 120 000 Kwanzas) such obligations must also be fulfilled by the following entities:
⦁ Providers of domestic port services, that is, managing entities of port infrastructures, including those of maritime and terrestrial access, and other suppliers of port goods or services authorized to operate in the port and to supply directly to foreign flag vessels, provided that they are headquartered in Angola or set up subsidiaries, branches, agencies or any form of representation in Angola of legal persons with headquarters abroad;
⦁ Non-domestic currency maritime operators, that is, shipowners or maritime transporters, who operate ships with a foreign flag and who are responsible for the payment of all costs and expenses related to their activity, provided that they are headquartered abroad or that they are branches , subsidiaries, agencies or any forms of representation in foreign territory of legal persons based in Angola; and
⦁ Domestic currency shipping agents, that is, a natural and/ or legal person who, on behalf and on behalf and representing the trade owner, is responsible for carrying out the acts necessary for the dispatch and clearance of the vessel, ship or other maritime device in the port as well as and of commercial operations, provided that they are headquartered in Angola or set up subsidiaries, branches, agencies or any forms of representation in Angola of legal persons headquartered abroad.
For more information on Maritime Navigation, Merchant Marine and Foreign Exchange Operations in Angola, Cape Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe and Timor-Leste consult Legis-PALOP + TL.
