Cubamax suspends remittance shipments to Cuba
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Cubamax has suspended its remittance services to Cuba due to a restructuring related to Orbit S.A., which is controlled by GAESA and has been sanctioned by the U.S. for its connection to the Cuban regime.
Friday, April 25, 2025 – 6:28 PM
The Cubamax company, a travel agency based in the United States, has suspended the sending of remittances to Cuba, as confirmed by Martí Noticiasitself.
Cubamax “is currently undergoing a restructuring process related to the companies that distribute money in Cuba,” said an employee from the main office located in Hialeah.
The woman, who requested anonymity, told Martí Noticias that “in her understanding, this restructuring is not related to any legislation passed in Washington.”
Cubamax was responsible for managing remittances to the Island through Orbit S.A., a remittance processing company for Cuba controlled by GAESA, the business conglomerate of the Revolutionary Armed Forces of Cuba (FAR), sanctioned by the U.S. government at the end of January this year.
Orbit S.A. was included in the updated “Cuba Restricted List” from the Department of State, which prohibits transactions with companies linked to the Cuban military, intelligence, and state security apparatus.
The U.S. government argued that this sanction aimed to prevent resources from flowing to the sectors that “oppress and surveil” the Cuban people, while simultaneously controlling large sectors of the island’s economy.
Orbit S.A., a relatively unknown company until 2022, emerged as a viable alternative for remittance processing following the exit of Fincimex S.A. from the business due to sanctions imposed by the U.S. Department of the Treasury.
It was founded on February 3, 2020, but it wasn’t until 2022 when it gained prominence after receiving a license from the Central Bank of Cuba (BCC) to operate as a “non-banking financial institution.”
This license allowed her to manage international transfers and provide payment services on the island, positioning her as a potential successor to Fincimex S.A. in the remittance business.
The company established its headquarters in Miramar, in a building adjacent to the offices of Fincimex, according to a comprehensive article from Proyecto Inventario that investigated the connections between both entities, highlighting the link of Orbit S.A. with the Business Administration Group S.A. (GAESA), which is controlled by the military and the leadership of the Cuban regime.
With the backing of the BCC and the absence of international sanctions at that time, Orbit reached an agreement with the American company Va-Cuba INC., which allowed it to receive remittances from the U.S. through a license granted by the Office of Foreign Assets Control (OFAC).
Although it was presented as an independent company under the jurisdiction of the Ministry of Foreign Trade and Investment, evidence reviewed by the Miami Herald shows that Orbit operates as an extension of CIMEX, which in turn reports directly to GAESA.
The analyzed documents revealed that CIMEX supervises all of Orbit’s operations, including the money transfers processed by Western Union and Miami-based remittance agencies such as VaCuba and Cubamax.
Orbit utilizes CIMEX’s financial infrastructure to carry out these transactions, and the data from both companies is included in the same monthly reports that CIMEX prepares for the senior executives of GAESA.
Frequently Asked Questions about the Suspension of Cubamax Remittances to Cuba
Why did Cubamax suspend the sending of remittances to Cuba?
Cubamax has suspended the sending of remittances to Cuba due to a restructuring process related to the companies that distribute money on the island. Although it has been clarified that this restructuring is not linked to new laws in Washington, the inclusion of Orbit S.A., the company used by Cubamax to process remittances, on the U.S. Department of State’s Cuba Restricted List has been a significant factor in the decision.
What is Orbit S.A. and what is its relationship with GAESA?
Orbit S.A. is a remittance processing company to Cuba that has been linked with GAESA, the business conglomerate controlled by the Cuban military. This relationship has led to its inclusion in the U.S. Restricted List, as efforts are made to prevent resources from flowing to sectors that oppress the Cuban people.
How does the inclusion of Orbit S.A. on the U.S. Restricted List affect the sending of remittances to Cuba?
The inclusion of Orbit S.A. on the U.S. Restricted List prohibits direct financial transactions with the company, which has led to the suspension of remittance services through companies like Western Union and Cubamax. This complicates the flow of money from the U.S. to Cuba, impacting many families who rely on these funds.
What alternatives exist for sending remittances to Cuba following the sanctions against Orbit S.A.?
With the suspension of official channels for sending remittances to Cuba, an increase in the use of informal channels such as mules, P2P applications, and transfers through third countries is expected. Additionally, the Cuban regime may seek new digital platforms or cryptocurrencies to continue receiving these funds.
