With potentially severe sanctions for exchange control violations, it is important to know which transactions are subject to
exchange control laws and regulations, and whether the laws apply to nationals, residents, non-residents, individuals and businesses
alike. This category provides an overview of these aspects, as well as others such as whether hard currency can be taken out of
the country, whether remittance of profits abroad is restricted and whether bank accounts can be held in foreign currency.
The following topics are covered in detail under the Exchange Control category for
(click to expand):
Trends and practice
Practical Q&A format
This category contains detailed and up-to-date local guidance, in an easy-to-use question-and-answer format, in relation to cross-border and foreign-exchange transactions in a particular African country. If you have a question that is not answered, we’ll source the response for you. Sample questions include:
Which transactions require exchange control approval?
What is the procedure for obtaining exchange control approval?
Are there any restrictions on the inbound or outbound transfer of money, in respect of both local and foreign currency?
Can a local entity invoice another local entity in foreign currency?
Can exemptions from the exchange control laws be obtained, either in the context of investment benefits or for activities in specific sectors?
What civil and criminal sanctions apply to exchange control contraventions?
Benefits of the Exchange Control category of Afriwise
If you undertake any activities that require funds to flow in or out of a particular African country, the Afriwise platform, and this category in particular, is a must. Afriwise is more powerful than any other solution as it provides accurate, up-to-date and plain-language guidance in relation to all your questions, is interactive, and also notifies you when there are legal updates you should be aware of.
Afriwise subscribers benefit from:
- 24/7 access to our online platform
- detailed practical guidance and insights on all aspects of this area of law
- overviews of the applicable laws and upcoming changes, as well as alerts to important legal developments
- downloadable copies of all relevant laws and regulations
- direct access to vetted local legal experts
- valuable tools such as powerful search engine with relevant filters
- country comparisons
- a clarification-request tool
- ... and much more.
Gain full visibility across the local foreign exchange law landscape.
Afriwise connects organisations to outstanding quality and up-to-date legal, risk and business
information and local expertise for African countries. We give you deep understanding about African
markets, online, and help you proactively comply with local regulations.
Our award-winning solution offers an innovative way to source and stay up to date with key
information about exchange-control requirements and practices in a particular African country.
Are you interested?
Subscribe now and stay-up-to date.