As has been done with Cubamax from the U.S., the Galician firm will be able to “channel funds for deposit into accounts, debit cards, or the loading of prepaid cards for beneficiaries”

14ymedio, Madrid, March 24, 2026 / The Central Bank of Cuba (BCC) has authorized Bagalso Internacional S.L. (S.L.), a small Spanish financial services company, to “carry out money transmission activities” on the Island. The resolution, published this Tuesday in a special Official Gazette, effectively allows the firm to manage remittances, although the word itself is never mentioned.
Among the authorized activities are “channeling funds for deposit into accounts, debit cards, and the loading of prepaid cards for beneficiaries in Cuba;” “delivering cash in national currency or in foreign currency to beneficiaries;” and “developing, managing, and operating the digital platforms, interfaces, and technological systems required.” At the same time, Bagalso has around 10 obligations starting from the entry into force of the resolution within three days. The first of these is to “designate a representative residing in Cuba, with sufficient authority to receive notifications and requests from Cuban authorities, present required information and documentation,” and represent the firm before the BCC and other competent authorities.
The company will also be required to “comply with the transactional and operational limits established by the Central Bank of Cuba, both for individual and cumulative operations,” “submit to supervision and information requirements” from the BCC, and “submit to the jurisdiction of Cuban courts.”
The company will also be required to “comply with the transactional and operational limits established by the Central Bank of Cuba”
The resolution itself states that S.L. is a limited liability company; that is, a commercial entity in which the partners’ liability is limited to the capital contributed, and the minimum capital is low, under 6,000 euros. It was “established in accordance with the laws of the Kingdom of Spain to carry out activities auxiliary to financial services,” has its registered address in Lugo (Galicia), and “will not constitute a legal entity in Cuba.”
The company is barely three months old: it was registered in the Official Gazette of the Spanish Mercantile Registry on continue reading
Núñez del Riego, for her part, is a Cuban who founded an SME in Havana together with Raidel Pérez Nodarse: Sonrai Rodamientos. As its name indicates and as advertisements on its still-active social media show, they are engaged in wholesale marketing of bearings, rubber, and inner tubes for motorcycle and bicycle wheels, as well as transmission belts and tools. However, it is registered in the registry of micro, small, and medium-sized enterprises of the Ministry of Economy and Planning, like Sonrai Habana, in the municipality of Playa, to “commercialize food, beverages, and tobacco.”
The sole administrator of Bagalso Internacional is Eduardo Valín Fernández, from Lugo, linked to several firms in that Galician province
Both Núñez del Riego and Pérez Nodarse are also joint administrators of Rodamerican International S.L., established in Madrid in 2023 with the corporate purpose of “wholesale trade, non-specialized, import, export, and commercialization of alcoholic and non-alcoholic beverages and tobacco, as well as all types of food.”
Bagalso Internacional is not the first foreign financial firm authorized to operate by the BCC to replace Orbit S.A., sanctioned by the Trump Administration in January 2025 for its ties to the powerful military conglomerate Gaesa (Grupo de Administración Empresarial S.A.), as revealed by The Miami Herald in an extensive report. At the end of December, the U.S. company Cubamax Travel Inc. received the same permissions, including the delivery of “cash in national currency or foreign currency to beneficiaries.”
Meanwhile, authorities have been very active over the past two days regarding regulations and permits, following the official announcement that Cubans abroad, including Cuban Americans, will be able to invest in businesses on the Island.
This Monday, another special Official Gazette reported that the BCC had authorized for the first time 10 companies, nine SMEs and one joint venture, to use cryptocurrencies for international payments. The resolution included the names of the firms and their activities: Ingenius Tecnologías, Dofleini (founded by legislator Carlos Pérez Reyes),Cema Soltec, Pasarela Digital SURL, Ara, and DASQOM SURL (all related to IT or information technology services); La Calesa Real and El Asadito (gastronomy), and La Meknica (transportation). The joint venture is Productos Sanitarios S.A. (Prosa), whose general manager is Manolo González García.
Translated by Regina Anavy
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