Non-Resident Transferable Foreign-Currency Account

It is an account in which the source of fund is overseas.
A foreign currency shall be credited to the account, based on the following conditions;

  • Direct crediting of the account from foreign sources through SWIFT/Wire transfer;
  • Travelers’ checks brought by the account holder from abroad;
  • Money notes, provided that the account holder presents a foreign-currency-declaration form from the Ethiopian Customs Authority; and
Check deposits that originate from abroad
  • The balance of this account is kept in foreign currency
  • The holder can withdraw money in foreign currency upon presentation of traveler document (VISA & valid Air Ticket), without having a foreign exchange control permit
For the purpose of using in Ethiopia he/she withdraws in local currency only.

Eligible Entities

  • Embassies, Diplomats;
  • International organizations and Foreign Investors;
  • NGOs, Expatriate Employees of International organizations and of non-resident companies

Document Requirements

  • A permit from the NBE;
  • A letter of application that states the manner of operation, signed by the head of the delegation & for NGO’s from the organization’s Head Office or regional office; and Permit from the respective government body
  • ID cards or passports of the signatories’ of the account.
  • The Memorandum of Association, Article of Association (for companies) certificate of registration for foreign Investors
  • A letter from the employer, which confirms that her or his salary is paid in a foreign currency for Expatriate Employees of International Organizations

 

 

Comments