Angolan State readies to confiscate properties in 2019

Luanda – The Angolan State is reading to start capturing, as from the year 2019, properties domiciled abroad through irregular dealings or moneys from Angola, in the ambit of the Draft-Law on Coercive Repatriation and Broad Capture of Assets, analysed by the Cabinet Council last Thursday.

The mentioned draft-law, yet to be submitted to the National Assembly (Parliament), aims at backing the already in force Law on Repatriation of Capitals, thus endowing the government with legal powers to also capture property acquired through the financial assets irregularly placed abroad.

According to the minister of Justice and Human Rights, Francisco Queiroz, – who spoke to the press in the end of the Cabinet Council meeting � as soon as the law is approved by the National Assembly, the irregularly acquired properties that are domiciled in the country will start to be confiscated this year.

The minister explained that the Law on Repatriation of Capitals does not cover all the necessary aspects of this process relating to the fight against corruption and illegal transfer abroad of capitals acquired in the national territory, reason why that legal tool will be backed by the mentioned Law on Coercive Repatriation and Broad Capture of Assets.

The minister explained that the new law will incorporate some clarifying concepts, such as Congruent Assets (meaning legally acquired) and Incongruent Assets (Illegally acquired or acquired through illicit dealings).

He explained that an Angolan citizen that is taken to court and condemned in the ambit of the two mentioned legal tools, his or her property/properties (acquired in the same ambit) will become ownership of the Angolan State.

Source: Angola Press News Agency