Tunisia's FX Code Reform: Where It Stands for Startups

Tunisia still runs its foreign exchange regime on a law passed in January 1976. A reform of that FX code has been promised for years: the government approved a draft in 2024, MPs filed their own bill in October 2025, and parliament opened resident foreign-currency accounts through the 2026 Finance Law. As of early October 2026, the new code itself has not been adopted. Here is where things stand and why it matters for startups.

The 1976 code and why startups hit it

Foreign exchange operations are governed by Law No. 76-18 of 21 January 1976, the Code des changes et du commerce extérieur, plus implementing decrees and a large body of Central Bank of Tunisia (BCT) circulars. According to the Prime Ministry, the regulation dates from 21 January 1976 and was updated only once, in 1993. La Presse describes the framework as complex and outdated.

The logic is prior authorisation: residents need BCT approval for many operations involving foreign currency or foreign assets. For a tech startup, that shows up in daily friction:

• paying for foreign SaaS tools, cloud hosting or advertising;
• receiving revenue from foreign clients or app stores;
• opening a subsidiary or holding company abroad;
• getting paid through international platforms, a common issue for freelancers.

The 2019 startup carve-outs

The Startup Act brought two targeted exceptions, both reserved for companies holding the Startup label:

• The "startup" foreign-currency account (BCT Circular No. 2019-01). It can be credited with export proceeds, equity or convertible bonds from non-residents and similar inflows, and used to pay suppliers abroad, cover business travel, or invest in foreign companies.
• The international technology card (BCT Circular No. 2019-02). Resident companies can get an annual allowance of up to TND 10,000 for online payments abroad; labelled startups can get up to TND 100,000 per year.

These measures helped, but they only cover labelled startups and do not change the underlying law.

The government draft that stalled (2024)

In March 2024, a ministerial council chaired by then head of government Ahmed Hachani examined and adopted a draft FX code, prepared with the Ministry of Finance and the BCT. Its announced goals included a unified legal framework, progressive liberalisation of financial transactions and digitisation of external payments. The listed measures included a revised definition of residence, authorisation of crypto-asset transactions, a new approved exchange operator status open to companies including startups, and revised penalties.

That draft did not reach a vote. According to a 2026 Tunisie Numérique report, the committee chair said the government had promised to submit a bill by January 2026, which did not happen.

Parliament takes over (2025–2026)

On 21 October 2025, MP Maher Ktari, who chairs the Assembly's Finance and Budget Committee, filed a full reform bill with support from around 40 MPs, according to Webdo (La Presse later put the number of sponsors at 45 and the text at 91 articles). The bill:

• redefines residence for individuals and companies;
• lets residents open foreign-currency accounts under conditions;
• creates accounts for payments on electronic platforms, aimed at freelancers earning in foreign currency;
• lifts many restrictions on investing abroad and on health and education payments;
• addresses digital assets and remote payment systems.

African Manager's April 2026 reading of the committee text adds an approved exchange operator status for large firms, listed companies and eligible startups; mandatory declaration and repatriation of foreign assets and crypto-assets above a threshold; penalties of up to three years in prison for serious violations; and entry into force three months after publication.

Resident FX accounts: already law

One piece did pass. On 2 December 2025, parliament adopted an amendment to the 2026 Finance Law allowing Tunisian residents to open foreign-currency or convertible-dinar accounts with authorised banks without prior BCT approval, by 69 votes to 17 with 17 abstentions, according to Launch Base Africa. A similar proposal had been rejected in November 2024.

According to La Presse, the measure applies from 1 January 2026; accounts cannot be overdrawn, and can be funded by transfers from other FX or convertible accounts, interest and the annual travel allowance. Practical rules depend on implementing texts, so founders should check with their bank what is actually available. For the remittance angle, see diaspora remittances.

Where the reform stands now

The committee held hearings through spring 2026 with the Ministry of Finance, customs, business groups such as CONECT and UTICA, and others. The Ministry of Finance argued for gradual liberalisation, saying full opening does not suit current conditions and that FX reserves and the dinar must be protected.

The main sticking point has been the BCT. By mid-June 2026, Ktari said the committee had completed about 90% of its hearings and that the central bank had not responded to several letters. A vote was then postponed to wait for the BCT's written input. On 23 July 2026, Tunisie Numérique reported that the Ministry of Finance proposed delaying the examination to early 2027, which Ktari opposed, and that the committee planned to return to the code at its first meeting in October 2026.

Ktari has publicly estimated the reform could add around one point of GDP growth; that is his projection, not an official assessment.

What it means for founders

Until a new code is adopted, the 1976 framework and its circulars apply. In practice:

• Use what exists. If you hold the Startup label, open a startup FX account and request the technology card.
• Test the new resident accounts with your bank, but do not build cash management on them until the bank confirms the rules.
• Avoid informal workarounds. Unauthorised FX operations remain offences, and the draft keeps prison terms for serious cases.
• Watch October. If the committee votes the text and sends it to plenary, implementing circulars will decide the real impact, including whether startups can obtain the approved exchange operator status.

The reform also shapes the legal status of crypto-assets in Tunisia, which the drafts would bring under the FX code for the first time.