The Central Bank of Cuba (BCC) published the , which establishes the regulations for the opening and management of foreign currency bank accounts, for both individuals and legal entities, both Cuban and foreign, engaged in economic activities in the country.
The regulation appeared in the , pages two to seven, and will come into effect seven days after its publication, which will be around September 17.
With it, Resolution 125/2025 of the BCC is repealed, which had governed the same subject since December 17, 2025.
The text of the new resolution itself explains the reason for the change: "The approved Economic and Social Transformations make it necessary to repeal Resolution 125 [...] in order to modify the operation of cash deposits in foreign currency by non-state economic actors, as well as the payments made abroad for imports, financing, and other lawful concepts."
One of its most important aspects is that banks will be able to open foreign currency accounts without requiring prior authorization from the BCC. This is established in Article 4: "The opening of foreign currency accounts in banks by natural and legal persons is carried out without prior authorization from the Central Bank of Cuba."
Article 5 establishes responsibility for the account holders: "The holders of foreign currency bank accounts are responsible for the transactions recorded in these accounts."
In terms of financial control, Article 6 obliges banks to apply due diligence "in accordance with the provisions of current legal regulations concerning the fight against money laundering, the financing of terrorism, and the proliferation of weapons of mass destruction."
The resolution covers a wide range of subjects. According to Article 1, it applies to both natural and legal persons, both Cuban and foreign, international economic association contracts, local development projects, and international cooperation, as well as accounts associated with magnetic cards of non-state economic actors, religious institutions, and fraternal associations.
The regulation defines "non-state economic actor" as those who engage in legally authorized productive, commercial, or service activities outside the state sector, a category that includes cooperatives, agricultural producers, communicators, artists, and creators.
To open an account, Cuban individuals must present their identity card, while Cubans residing abroad must provide a valid consular passport with a visa.
Legal entities, for their part, are required to provide legalized documentation that certifies their incorporation, bylaws, registration in the Mercantile Registry, composition of the board of directors, and the tax identification number (NIT) issued by ONAT, among other requirements.
The new Resolution 102/2026 is based on two regulatory pillars: Decree-Law 113/2025 "On Foreign Currency Transactions in the National Economy" and Resolution 103/2026 from the Ministry of Economy and Planning, the latter published in Gazette No. 76.
This is the latest link in a series of adjustments to the currency regime that the Cuban government has been implementing since late 2025, when it authorized small and medium enterprises and cooperatives to buy foreign currency through the banking system, and last June allowed private actors to deposit cash dollars without compulsory conversion to Cuban pesos.
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