Authorised Dealers can verify and endorse all types of current remittances overseas either in foreign currency or Kina.

Exchange control approval is no longer required. Any amount of foreign currency or Kina can be remitted overseas or received from overseas without limit.

Imports into PNG

Payments for imports do not require exchange control approval. The payments are subject to the following requirements:

• the production of Customs Entry Forms for goods that have arrived in PNG; and

• the subsequent production of Customs Entry Forms where the goods are in transit to PNG. The documentation    must be forwarded to the Authorised Dealer within 60 days of the payment date.

• the production or submissions of a relevant BOP Form.

Other Current Payments

Other current payments can be done through the Authorised Dealers who will verify and certify the remittances without exchange control approval. The payments are subject to the following requirements:-

• the production of relevant supporting documents, where required;

• the production of an original TCC, where required, and;

• the production or submissions of a relevant BOP Form.

Receipts of Funds from Exports

Exporters may not be required to bring export receipts to PNG. However, they are required to report to the Central Bank funds received from exports, on the relevant BOP Forms.  Export receipts that are received can be processed through an Authorised Dealer.

Other Current Receipts

Other current receipts can be received and processed through the Authorised Dealers who will verify and certify the receipts without exchange control approval. The receipts are subject to the production or submission of the relevant BOP Forms.