WILLEMSTAD/PHILIPSBURG:--- The Centrale Bank van Curaçao en Sint Maarten (CBCS) decided to repeal the capital restriction, effective January 1, 2022. This restriction was introduced on March 20, 2020, to limit possible capital flight after the outbreak of the COVID-19 pandemic and accompanying worldwide crisis.
Under the capital restriction, no foreign exchange licenses were granted for capital transfers abroad, to limit the outflow of foreign exchange. A foreign exchange license is required for transaction amounts of NAf 150,000 or more and was, therefore, not possible anymore under the restriction. No foreign exchange license is required for transaction amounts of less than ...
To read more: https://www.smn-news.com/index.php/st-maarten-st-martin-news/39316-cbcs-repeals-capital-restriction.html
