Measure
Retention of foreign currency obtained from sale of exported goods
| Type | Class | Valid From | Valid To |
|---|---|---|---|
| General | Goods | 01/12/1993 | |
| Summary: A certificate may allow the holder to keep foreign currency earned from exports outside Namibia, without needing to repatriate it or offer it to the Bank of Namibia. |
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| Description: 10. (1) A Certificate may, on such terms and conditions as may be prescribed therein, provide for the retention outside Namibia by the holder of the Certificate of any payment, or a proportion of any payment, in foreign currency for goods produced by the enterprise or any undertaking carried on by the enterprise which are exported from Namibia. (2) Where a provision as contemplated in subsection (1) is made, no requirement of any law for the repatriation of the proceeds of the sale of goods exported from Namibia or for persons to offer such foreign currency to the Bank of Namibia or the Government shall apply to the foreign currency representing any payment or proportion of any payment referred to in subsection (1). |
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Commodities Affected by the Measure
No commodities found under this measure.
Procedures Implementing the Measure
No procedures found under this measure.
Legal Documents Related to the Measure
| Name | Type | Category |
|---|---|---|
| Foreign Investments Act 27 of 1990 | Act | Import/Export |