Cuba Now Allows Spanish Company to Handle Cash Remittances

What Happened

Cuba's Central Bank has authorized a Spanish company to manage and deliver cash remittances within the island. This new regulatory framework allows BAGALSO INTERNACIONAL, S.L. to operate in Cuba, facilitating the flow of funds from abroad.

The approval, detailed in Resolution 21 of 2026, permits the company to channel external funds, make deposits into bank accounts or onto cards, and distribute cash directly to recipients in Cuba.

Where and When

This authorization specifically applies to operations within Cuba, as of March 24, 2026, the date of the Gaceta Oficial publication. The decision was signed by Juana Lilia Delgado Portal, the Minister-President of the Central Bank of Cuba.

BAGALSO INTERNACIONAL, S.L. is a company registered in Lugo, Spain. It operates within the financial services sector.

Why It Matters

This development signifies a potential easing of regulations for international money transfers into Cuba, particularly for cash delivery. It could offer new channels for families to receive financial support from relatives abroad.

The authorization aims to bring more structure and oversight to the remittance market, potentially impacting how money reaches individuals and businesses on the island.

What Parties Say

The Central Bank of Cuba stated that BAGALSO INTERNACIONAL met all necessary requirements, including feasibility studies and business plans. The company also presented mechanisms for preventing money laundering and terrorist financing.

The resolution emphasizes that the company must clearly inform users about fees, commissions, and associated risks. It also mandates compliance with transactional limits set by the BCC.

What Comes Next

BAGALSO INTERNACIONAL must designate a legal representative residing in Cuba and maintain separate accounting for its Cuban operations. They will be responsible for any activities conducted outside the authorized framework.

The company will also need to ensure adequate cybersecurity and data protection systems are in place, alongside transparent reporting to users about service terms and conditions.