Public announcement Augustus 1, 2021

 

Open announcement in Dutch

Open announcement in Papiamento

Open announcement in English

 

PUBLIC ANNOUNCEMENT

Considering the steady recovery of the Aruban economy and the positive outlook, especially with regard to tourism, as well as the fact that the foreign exchange reserves are at an adequate level, the Centrale Bank van Aruba (CBA) has decided to further revoke the foreign exchange restrictions imposed due to the COVID-19 pandemic.

The aforementioned decision entails that as of August 1, 2021, it is permitted to make payments to non-residents related to:

a. Dividend and profit distributions; and

b. Direct investments.

Direct investments comprise:

- Participation of a resident in a foreign company.

- Current account transfers to foreign parent companies, subsidiaries or sister companies by resident legal entities.

- Transfers by resident legal entities to their own bank accounts held abroad.

The Public Announcement of March 27, 2020 is hereby revoked, and the Decree concerning Foreign Exchange Transactions 2013/K.2 (general foreign exchange license) will enter into effect again as of August 1, 2021. Except for the revocations stated in this Public Announcement and those in the Public Announcement of May 31, 2021, other restrictions in the Public Announcement of March 17, 2020 will remain in full force.

The CBA will continue to closely monitor the foreign exchange reserves, and, if these remain within acceptable margins, it will revoke the remaining foreign exchange restrictions imposed due to COVID-19 pandemic.

Aruba, July 28, 2021