Basic information
Outline of the system
The regulations are applicable to the importation and exportation of precious metals and stones by Cuban and foreign legal persons in the territory of the Republic of Cuba. These regulations cover:
- Precious metals: gold and silver, unwrought, in semi-manufactured forms and in powder form.
- Precious stones: diamond, sapphire, ruby and emerald, unwrought, cut and unset.
Legal persons are free to import precious metals and stones, in the above-mentioned forms, provided that the intended use of these goods is in line with their authorized corporate purpose and that they comply with the established requirements and formalities for customs clearance, in addition to any others that may be applicable. The importation and exportation of demonetized pieces and domestic or foreign specimens of a numismatic nature are subject to the specific regulations laid down for that purpose.
Product coverage
Licensing seeks to control and ensure the safety of precious metals and stones, with a view to their preservation, and to prevent the illegal trafficking of these goods, in accordance with the legislation in force in Cuba and the international agreements to which the country is party.
Nature of licensing
Automatic
If Automatic, administrative purpose
Non-Automatic
If Non-Automatic, description of the notified Non-Automatic Licensing regime
Products under restriction as to the quantity or value of imports
There is no restriction as to the quantity or value of imports. Licensing seeks to ensure protection and control.
Questions for products under restriction as to the quantity or value of imports
Not applicable.
The system applies to products originating from which country?
This procedure applies to precious metals and stones from any country in the world.
Expected duration of licensing procedure
Legal requirements
Is the licensing statutorily required?
Import licensing for precious metals and stones is maintained under Decree-Law No.361 of 14 September 2018 and Resolution No.28 of 2002 of the President of the Central Bank of Cuba. On this basis, the licensing system is statutorily required. The granting of licences is statutorily required.
Does the legislation leave designation of products to be subject to licensing to administrative discretion?
The legislation does not leave the designation of products subject to licensing to administrative discretion.
Is it possible for the government to abolish the system without legislative approval?
It is not possible for the Government to abolish the system without legislative approval.
Eligibility of applicants
Is there a system of registration of persons or firms permitted to engage in importation?
What persons or firms are eligible to apply for a licence?
Importers authorized to import these products in accordance with a list approved by MINCEX may apply for an import licence.
Is there a registration fee?
Is there a published list of authorized importers?
Contact point for information on eligibility
Ministry/Authority
Central Bank of Cuba
Address
Telephone
(+53) 7862-1577; 7863-5344
Fax
Contact officer
Submission of an application
Administrative body(ies) for submission of an application
Documentation requirements
What information is required in applications?
Applicants are required to include the following information in their application:
- Description of the metals.
- Copy of the international sales contract.
- Intended use of the goods.
What documents is the importer required to supply with the application?
Window of submission of an application
How far in advance of importation must application for a licence be made?
The specific technical authorizations to carry out import operations must be granted by a competent authority and be obtained prior to the signing of the relevant contract. Where this is not possible, they must always be obtained before the start of the commercial operation (defined as the date of shipment of the goods), according to the level of risk and nature of each individual case.
Are there any limitations as to the period of the year during which application for licence can be made? If so, explain
There are no limitations as to the period of the year during which an application may be made.
Issuing the license
Can a licence be granted immediately on request?
No, as it is necessary to examine the requested documentation.
Can licences be obtained within a shorter time-limit or for goods arriving at the port without a licence
In this case, import licence applications are processed at least seven days prior to the importation of the goods.
Which administrative body is responsible for approving application of licences?
Licence applications are considered by a technical administrative body.
Must the applications be passed on to other organs for visa, note or approval?
Are there any other conditions attached to the issue of a licence?
No.
Fees and other administrative charges
Is there any licensing fee or administrative charge?
No administrative fees are charged for the issue of the import licence.
What is the amount of the fee or charge?
Is there any deposit or advance payment required associated with the issue of licences?
Not applicable.
Amount or rate?
Is it refundable?
What is the period of retention?
What is the purpose of this requirement?
Refusal of an application
Under what circumstances may an application for a licence be refused other than failure to meet the ordinary criteria?
The illegal procurement of precious metal and stones. If the information provided by the importer is unclear, the importer will be requested to provide further information to demonstrate the legality of the import operation.
Are the reasons for any refusal given to applicants?
If the importer fails to demonstrate the legality of the operation, the operation shall not be authorized and the applicant shall be notified of the reasons for the refusal. The authority's decision is irrevocable.
Have applicants a right of appeal in the event of refusal to issue a licence?
If so, to what bodies and under what procedures?
Importation
Are there any limitations as to the period of year during which importation may be made?
What documents are required upon actual importation?
Upon importation, the importer must present to customs the import licence issued by the BCC.
Are there any other administrative procedures, apart from import licensing and similar administrative procedures, required prior to importation?
No.
Conditions of licensing
What is the period of validity of a licence? Can the validity be extended? How?
The issued import licence does not have an established validity period.
Is there any penalty for the non-utilization of a licence or a portion of a licence?
There is no penalty for the non-utilization of an import licence.
Are licences transferable between importers? If so, are any limitations or conditions attached to such transfer?
Licences are non-transferable.
Foreign Exchange
Is foreign exchange automatically provided by the banking authorities for goods to be imported?
Not applicable.
Is a licence required as a condition to obtaining foreign exchange?
Not applicable.
Is foreign exchange always available to cover licences issued?
Not applicable.
What formalities must be fulfilled for obtaining the foreign exchange?
Not applicable.