Article XX: Foreign Trade

Section 1: Foreign Currency

  1. The acquisition, holding, transfer, or exchange of foreign currency shall not in itself constitute Consumption within the State Territory.
  2. The use of foreign currency shall not alter the account, transfer, or tax treatment required by this Constitution according to the purpose of the underlying transaction.
  3. The State shall not otherwise restrict the acquisition, holding, transfer, exchange, or disposal of foreign currency.

Section 2: Currency Exchange

  1. Currency exchange for a business, investment, or other non-consumptive purpose shall be wholesale business activity conducted through a B-account whose Product Category is "foreign-currency".
  2. Currency exchange that makes foreign currency available to a customer for Consumption shall be retail business activity conducted through an R-account whose Product Category is "foreign-currency-retail".

Section 3: Imports

  1. The supply of a foreign Product for Consumption within the State Territory shall be retail business activity conducted through an R-account whose Product Category is "import-retail".
  2. The acquisition of a foreign Product as an input to production or for resale shall be wholesale business activity conducted through a B-account whose Product Category is "import-wholesale".

Section 4: Purpose-specific Foreign Services

  1. A B-account whose Product Category is "foreign-travel" shall be used only to supply foreign currency or make foreign payments for travel outside the State Territory and Consumption occurring during that travel.
  2. A B-account whose Product Category is "foreign-investment" shall be used only to acquire, hold, manage, settle, or dispose of foreign assets or foreign currency on behalf of an investor.
  3. A B-account whose Product Category is "foreign-remittance" shall be used only to transmit value gratuitously to an identifiable foreign recipient and shall not be used to purchase a Product on behalf of the sender.

Section 5: Exports

  1. The export of Products through the Central Bank Payment System shall be conducted through a B-account whose Product Category is "exporter".
  2. The supply of a Product for Consumption outside the State Territory shall not constitute Consumption within the State Territory.