The American company will have to be accountable to the regime by appointing “a representative residing in Cuba.”
MIAMI, United States. – The Central Bank of Cuba (BCC) authorized the American company Cubamax Travel Inc. to “develop money transmission activities to beneficiaries in Cuba,” including the possibility of channeling funds for deposits in accounts and cards, as well as “delivering cash in national currency or foreign currency” to recipients in the country, according to the Resolution 135/2025 published this Tuesday in the Official Gazette (ordinary edition No. 100).
The rule specifies that Cubamax, “a company established in accordance with the laws of the State of Florida, United States of America,” declared that “it will not constitute a legal entity in Cuba,” but it must still operate under the supervision of the BCC and comply with control, transparency and cybersecurity obligations. The resolution will come into force “five business days following its publication in the Official Gazette”.
According to the text, the BCC allowed Cubamax four lines of operation: channel funds through Cuban financial institutions “for deposit in accounts, debit cards, or loading prepaid cards”; deliver cash in CUP or foreign currency; “issue receipts of operation”; and “develop, manage and operate the digital platforms, interfaces and technological systems necessary” to execute the service.
The document maintains that the company demonstrated “through reliable documentation” that it has a money transmitter license in the United States (“FT License 230000013”), issued by the Florida Office of Financial Regulation on August 4, 2010. It also points out that Cubamax presented a feasibility study, business plan and internal policies for the prevention of money laundering and terrorist financing.
However, the resolution avoids key details that determine the real impact of the authorization for Cuban families: it does not publish rates, commissions, limits per operation, deadlines, specific delivery currencies, or the territorial scope of the service within Cuba. Instead of setting these rules in the standard itself, the BCC leaves these elements open by establishing that the company must “comply with the transactional and operational limits established by the Central Bank of Cuba, both for individual and cumulative operations,” and that it must inform “in a clear and accessible manner to users about the rates, commissions, operation terms and risks associated with the service.”
The resolution also reinforces a state control scheme over the operator: Cubamax will have to designate “a representative with residence in Cuba” to receive notifications and requirements, submit to the supervision of the Superintendency of Financial Institutions and the General Directorate of Investigation of Financial Operations, and maintain “accounting and property separation” between what it does in Cuba and what it does outside.
One of the most striking points is the legal scope that the Cuban regulator attributes to a foreign company: Cubamax must “respond with all its assets, including assets abroad, for the obligations contracted and the sanctions that may be imposed” and, in addition, “submit to the jurisdiction of the Cuban courts.”
The authorization comes in a month marked by new official measures linked to currencies and financial control. On December 11, the BCC advertisement a regulatory package for foreign currency transactions and associated changes to monetary policy.
Apparently, Cubamax will occupy the place that previously belonged to the company Western Unionwhich resumed shipments from the United States to Cuba in May 2024, according to a corporate statement spread then.
However, the company once again suspended transfers to Cuba starting last February 5, citing “restrictions” by the US Government, in a context marked by sanctions and by the inclusion of the Cuban entity Orbit SA (linked to the processing of remittances) in the call Cuba Restricted List.
