The Central Bank of Cuba and the Ministry of Economy and Planning announced on Thursday two resolutions that broaden the foreign currency regulations in Cuba's economy. A significant change for the private sector is that non-state businesses are now permitted to accept cash payments in foreign currencies and deposit that money directly into their foreign currency bank accounts.
These regulations are featured in the Ordinary Official Gazette No. 76 of 2026, released this Thursday.
Resolution 102/2026 from the Central Bank of Cuba, signed on September 8 by its president Juana Lilia Delgado Portal, outlines the management of foreign currency bank accounts.
Resolution 103/2026 from the Ministry of Economy and Planning, issued on August 31, sets the general framework for the management, control, and allocation of foreign currencies within the national economy.
Significant Changes for Non-State Economic Participants
The most notable aspect for the private sector is detailed in Article 13 of Resolution 102/2026, which specifies the accepted income sources for non-state economic participants' foreign currency accounts. This includes the "retail sale of goods and services, including cash," allowing small and medium-sized enterprises, cooperatives, self-employed workers, artists, or agricultural producers to receive payments in dollars, euros, or other currencies recognized by the BCC and deposit this cash into their bank accounts.
From these accounts, non-state participants can make foreign payments for imports, pay for local purchases in foreign currency or Cuban pesos at the current exchange rate, withdraw foreign currency cash based on bank availability, transfer funds to other accounts, and sell currency on the foreign exchange market.
Bank Account Regulations and Responsibilities
The BCC's regulation also states that opening foreign currency accounts "does not require prior authorization from the Central Bank of Cuba," and account holders "are responsible for the operations recorded in these accounts." Banks, meanwhile, must perform due diligence to prevent money laundering and terrorist financing.
Distribution of Foreign Currency Income
Regarding income distribution, Resolution 103/2026 from the Ministry of Economy and Planning dictates that economic participants without an approved retention coefficient retain 80% of their foreign currency income, while the remaining 20% is credited in national currency at the prevailing exchange rate.
Foreign investment modalities and those receiving external funding, donations, or international cooperation funds retain 100% of these incomes.
Both resolutions nullify previous regulations: Resolution 103/2026 replaces the Ministry of Economy and Planning's Resolution 140 from December 2025, and Resolution 102/2026 supersedes the BCC's Resolution 125 from the same month.
The central bank's regulation text explains that the change addresses the need to "modify the operation of foreign currency cash deposits by non-state economic participants, as well as their foreign payments for imports, financing, and other lawful purposes."
These regulations align with Decree-Law 113 "On Foreign Currency Transactions in the National Economy," effective since December 17, 2025, and are part of the 176 economic and social measures that Prime Minister Manuel Marrero Cruz presented to the National Assembly in June 2026, which included expanding partial dollarization, creating a digital foreign exchange market, and authorizing private exchange houses.
Resolution 102/2026 becomes effective seven days after its publication in the Official Gazette, with an anticipated implementation date around September 17.
Frequently Asked Questions on Cuba's New Foreign Currency Regulations
What are the new foreign currency rules for private businesses in Cuba?
Private businesses in Cuba can now accept cash payments in foreign currencies and deposit this money into their foreign currency bank accounts, facilitating international transactions.
How does Resolution 102/2026 affect non-state economic participants?
Resolution 102/2026 allows non-state economic participants to handle foreign currency cash for retail sales and deposit it into bank accounts, enabling them to engage in international commerce more freely.
What are the responsibilities of account holders under the new regulations?
Account holders are accountable for all operations on their accounts, while banks must ensure compliance with anti-money laundering and anti-terrorism financing measures.