MIAMI, United States.- The Central Bank of Cuba established a new limit of 5,000 pesos (200 dollars at the official exchange rate) for the cash that natural persons may take out and enter the Island, according to a regulation published in the Official Gazette of the Republic of Cubain its extraordinary edition number 28, of this April 12.
According to the document, which provides sanctions for those who violate the provisions of Resolution 79/2022, the new regulation also regulates, for natural persons, the limit of other payment instruments or credit titles that can be imported and exported upon arrival. and departure from the national territory.
According to a note in the official newspaper Granmabased on the new regulation, natural persons “can export and import, upon leaving and entering the national territory, sums that do not exceed 5,000 Cuban pesos in cash, checks, bills of exchange, promissory notes or other payment instruments or titles of credits used in the international banking practice”.
Likewise, the resolution defines “that the import and export of demonetized pieces and specimens of Cuban pesos with numismatic or patrimonial character, are subject to specific regulations.”
“The entry and exit of Cuban pesos in cash as a shipment by postal, air and sea routes, in any denomination or other payment instruments or credit titles used in international banking practice” is prohibited.
According to the provisions of the new regulations, it is up to the Central Bank of Cuba “to execute the powers entrusted with the objective of controlling the inflows and outflows of money across borders, in addition to preventing and avoiding the use of the Banking and Financial System for activities illicit activities, including money laundering and the financing of terrorism and the proliferation of weapons of mass destruction”.
The document establishes that “individuals who fail to comply with the provisions, the sanction of confiscation will be applied, in accordance with the provisions of customs legislation, without prejudice to the civil and criminal actions that may take place.”
In January of this year, after the Monetary Regulation, the Central Bank of Cuba had established a maximum limit of 2,500 Cuban pesos for “cash payments arising from a contractual relationship.” Previously the limit was 2,000 pesos.
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