Alert – Changes to foreign owned Cuban bank accounts

2021-04-21

The Central Bank of Cuba has just published Resolution 139 in the Official Gazette, this resolution regards specific purpose bank accounts held by numerous foreign companies in the country.

It regulates that these specific purpose bank accounts denominated in foreign currency before 1 January 2021, will remain in those currencies but from now own the banks will only accept debits in Cuban pesos at the exchange rate of 24 Cuban pesos to one US dollar as of 1 January 2021.

Banks will automatically open a new bank account for specific purposes in Cuban pesos for account holders where the amounts they receive after 1 January 2021 will be credited.

Please find below the official Cuban gazette with all the information:

PDF
The PDF of the Gaceta Oficial (Spanish only)

 

Author: Bufete International, Cuban alliance firm of LILF

 

More information:

Lupicinio International Law Firm

C/ Villanueva 29

28001 Madrid

T: +34 91 436 00 90

F: +34 91 587 24 99

info@lupicinio.com