Procedures and Services

Credit for Working Capital: Amount necessary (in CUP) to cover the expenses of the production or service cycle of the activity carried out with a maximum term of 18 months.

Modalities:

• Simple Credit (one-time financing)
• Line of Credit (financing with a maximum limit to use)

Purposes:

• Purchase of goods, and supplies and equipment.
• Payment of raw materials and services (water, electricity and gas)

Requirements:

• Permanent identity document (identity card).
• Official document authorizing self-employment or other non-state management.
• Current account at the branch where financing is requested in the municipality of your legal domicile.
• Do not present past due debts or debt for a credit associated with your activity as TCP.
• MINSAP authorization whenever the activity requires it.

Guarantee:

• Assignment of present and future income rights.
• Transfer of certificates and fixed-term or savings accounts.
• Joint and several guarantors.
• Pledge of goods (jewelery, patrimonial goods, motorcycle vehicles, cattle)
• Real estate mortgages (rest or summer homes, waste lots)

Investment Credit: Amount (in CUP) destined to the acquisition of equipment related to the activity that it develops and with a maximum term of 10 years.

Modalities:

• Simple Credit (one-time financing)
• Line of Credit (financing with a maximum limit to be used by the client according to their requirements)

Purposes:

• Expenses associated with construction, remodeling or modernization of premises.
• Equipment purchase.

Requirements:

• Permanent identity document (identity card).
• Official document authorizing self-employment or other non-state management.
• Current account at the branch where financing is requested in the municipality of your legal domicile.
• Do not present past due debts or debt for a credit associated with your activity as TCP.
• MINSAP authorization whenever the activity requires it.

Guarantee:

• Assignment of present and future income rights.
• Transfer of certificates and fixed-term or savings accounts.
• Joint and several guarantors.
• Pledge of goods (jewelery, patrimonial goods, motorcycle vehicles, cattle)
• Real estate mortgages (rest or summer homes, waste lots)

Current accounts: Natural persons authorized to carry out Self-Employment may open current accounts in Cuban pesos and in convertible pesos at any BANDEC branch.

The accounts may be:

• Individual (a single holder that will operate through a checkbook)
• Solidarity or indistinct (two or more holders who can operate independently through a checkbook)
• Joint or joint (two or more holders who can deposit independently, but require the joint to make withdrawals, will be operated through payment orders)

Initial deposit: 200.00 (CUP) or failing that 50.00 (CUC)

Payment instruments: checks, magnetic cards, bank transfers or cash.

Documents to present for opening:

• Identity card of the owner (s).
• Document issued that authorizes the exercise of self-employment and other forms of non-state management.
• Card issued by ONAT with the tax identification number.

Fiscal Current Accounts: Natural persons authorized to carry out Self-Employment, if they are included among the activities required by the DL (gastronomic service in restaurants, gastronomic service in cafeteria, bar and recreation service, landlord of housing, rooms and spaces and construction services; property repair and maintenance) must designate one of their accounts or open one if they do not have one, such as a tax account.

Initial deposit: zero balance, in CUP, having a term of up to 90 calendar days to cover the minimum balance, of two (2) installments, required by ONAT. In the case of CUC it will be opened with a minimum balance of 50.00 CUC.

Documents to present for the opening:

• Application form signed by the owner.
• Identity card.
• License from the competent authority according to the activity carried out.
• Registration in the Taxpayer Registry.