General Decision 219

Dear Relation, First of all, we wish you a blessed and successful 2020!
The year has been in full swing for several days already.
There is a lot in store for Suriname in this new year.
Besides the fact that this year is an election year in which Suriname will again try, by means of voting, to give power to the ‘right’ leaders, we also have to deal, in the second quadrant of this year, with the National Risk Assessment (NRA) which is conducted by the Caribbean Financial Action Task Force (CFATF), a sister organization of the International Financial Action Task Force (FATF).
During this audit the extent to which Suriname has complied with the 40 recommendations to combat money laundering will be tested.
These recommendations were given by the CFATF during our last NRA in 2002.
During the next NRA, the country’s level of corruption will be examined and the presence of money laundering will be investigated.
In preparation for the upcoming NRA, Suriname last January 3 adjusted the general decision #219, regarding the Foreign Exchange Arrangement.
This amended decision is effective January 15, 2020 and has immediate implications on the Real Estate sector, specifically the prohibition of selling real estate in foreign currency. What does this mean for the Real Estate sector? This adjustment in the Foreign Exchange Decision will in no way facilitate the process of selling and/or purchasing real estate.
Nevertheless, we will try to inform you as soon as possible about the best ways to sell your real estate.
As the Real Estate sector is also confronted with this new legislation, we need space to devise and present good applicable strategies regarding these developments.
We ask for your patience and thank you for your trust in our organization.
Hoping to have informed you sufficiently.
Concerning the law, see link: https://www.deboodschap.today/general-determination-219/

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