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The Central Bank of Cuba has authorized the Spanish company Bagalso Internacional S.L. to conduct money transfer activities on the island, according to Resolution 21/2026 published in the extraordinary Official Gazette No. 48.
The regulation allows the entity to channel funds for deposits into accounts, debit cards, or prepaid cards of beneficiaries in Cuba, as well as to provide cash in national currency or foreign currency and issue receipts for the transactions carried out.
Furthermore, the company will be able to develop, manage, and operate the digital platforms and technological interfaces necessary to carry out these transactions, in a framework that allows for the transfer of money from abroad to the island.
The authorization imposes strict conditions. Bagalso must designate a representative residing in Cuba, ensure cybersecurity and traceability systems, inform users about fees and commissions, and comply with the operational limits set by the Central Bank.
Likewise, the firm will be subject to the oversight of Cuban authorities, will have to respond with all its assets—including those abroad—and will be under the jurisdiction of Cuban courts.
The resolution also establishes that the company will not constitute a legal entity in Cuba and that the authorization will come into effect three business days after its publication in the Gaceta.
According to CubaNet, the commercial registers in Spain indicate that Bagalso Internacional S.L. was established in June 2025, based in Lugo, with a share capital of 3,000 euros.
The company has Eduardo Valín Fernández as the sole administrator and later appointed Sonnia Alejandra Núñez del Riego as attorney-in-fact.
Although the resolution does not explicitly mention remittances, the scope of the authorized operations suggests the sending of money from abroad to beneficiaries in Cuba.
This is not the first license of this kind, as in 2025 the Central Bank authorized the American company Cubamax Travel Inc. to carry out similar operations.
Unlike that prior authorization, the new text does not specify that the operations must be carried out through Cuban financial institutions, and so far, no explanation has been provided regarding the reason for this change or how the service will function in practice.
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