Decree concerning Foreign Exchange Transactions 24/L.1 related to current foreign payments and receipts abroad

Decree concerning Foreign Exchange Transactions 24/L.1 related to current foreign payments and receipts abroad Please note that this is an unofficial translation. The official Dutch version (Besluit inzake het deviezenverkeer 24/L.1 met betrekking tot Lopende betalingen aan en Ontvangsten uit het buitenland) prevails at all times. The Centrale Bank van Aruba (“ the CBA’) IN VIEW OF: Article 9 paragraph 2 sub f, g and q of the State Ordinance Foreign Exchange Transactions (AB 1990 no. GT 6) (“the SOFET”) ANNOUNCES THAT: I. The Notice concerning Foreign Exchange Transactions 98/L.1 issued by the CBA on June 25, 1998, is hereby revoked. II. Current foreign payments and receipts as mentioned in article 9 paragraph 2 sub q of the SOFET also include all other current foreign transactions, i.a., transactions related to the purchase or sale of goods and services as well as compensation for capital and labor III. No foreign exchange license is required for current foreign payments related to: (a) interests and redemptions as mentioned in article 9 paragraph 2, sub f and i, without prejudice to the provisions stated in the Decree concerning Foreign Exchange Transactions 24/K.1; (b) dividends as mentioned in article 9 paragraph 2, sub f, after the CBA has issued a written acknowledgment concerning the dividend amount; (c) profit transfers as mentioned in article 9 paragraph 2, sub g, after the CBA has issued a written acknowledgment concerning the profit amount. To obtain the CBA’s written acknowledgment referred to under b and c, a written request thereto should be submitted to the CBA together with all relevant documents (i.a., the (certified) annual account regarding the relevant financial years, the shareholders’ resolution and the shareholders’ registry). The CBA may at all times require additional documents or (written) information.

In the event that, as a result of current foreign payments and receipts referred to in this Decree, the CBA is of the opinion that Aruba’s foreign exchange reserve position is affected, or that such a development is imminent, the CBA may take any action it deems necessary to ensure an adequate level of foreign exchange reserves. This Decree will become effective as of January 1, 2024. Oranjestad, December 19, 2023 Centrale Bank van Aruba Jeanette R. Semeleer President