Legislation and Regulation - Payments, Import/Export

Payments for goods and services to nonresidents
Pursuant to the Notice concerning foreign exchange transactions 98/L.1, as of July 1, 1998, all current foreign payments and receipts are in principle free. Transactions concerning distribution of dividends and transfer of profits can be executed only after a written acknowledgement of the Bank.
Export proceeds 
All proceeds from export of, for instance, goods and services must be converted into Aruban florins within eight working days.

Import and export of Aruban florin
Nonresidents are allowed to bring into Aruba any amount of checks, traveler's checks, or bank notes denominated in foreign currency. The exportation of Aruban florins is prohibited, and that of foreign currencies requires a license of the Bank.

Capital transactions with nonresidents
As of July 1, 2002, pursuant to the Notice concerning foreign exchange transactions 02/K.1, resident-natural persons are free to carry out capital transactions (being loans, investments, and other capital transfers) up to a maximum amount of Afl. 300,000 per calendar year, while resident-entities are permitted a maximum amount of Afl. 750,000.