Cuba flag Cuba: Investing in Cuba

Investment framework and opportunities in Cuba

Procedures Relative to Foreign Investment

Freedom of Establishment
Cuba’s new Foreign Investment Act (Ley de Inversión Extranjera, No. 118/2014) entered into force in June 2014. Key elements introduced by this act include:

- All sectors of the economy are open to FDI excluding health and education services, as well as the Armed Forces, except for their business sectors. Priority sectors include: Agriculture  and  Forestry;  Food  Industry;  Energy  and  Mining;  Sugar Industry;  Light, Chemical and Electrical Industries; Pharmaceutical Industry; Wholesale Trade; Export of health services and health tourism; Construction; Tourism; Transport.

- Foreign  firms  may  seek  collaborations  with  state-owned companies  and  possibly cooperatives, but not privately owned Cuban businesses.

- FDI may take the form of three separate modalities:
1) Minority  or  majority joint  venture companies  (JVs, Empresas Mixta)  in cooperation with state-owned enterprises.
2) International   Economic   Association   Contracts (IEAC, Contractos   de Asociación   Económica Internacional),   for   production   or   management   of facilities, usually in tourism.
3) Full foreign-owned  ventures ( Empresa  de  Capital  Totalmente  Extranjero).
Cuba generally prefers JV with a majority holding by the Cuban partner.

-FDI  enjoys full  protection against  expropriation except  for  reasons  in ‘the  public interest’. In these cases, the law foresees compensation. In case of conflict, investors are  entitled to appeal to a mutually agreed upon international investment dispute resolution entity.

- The Cuban government will notify foreign investors of the approval or rejection of an application within a period of 60 days.

Acquisition of Holdings
In Cuba, majority shareholding in a local company is allowed, but need to be approved by the governement.
Obligation to Declare
All FDI must be validated by the Governement of Cuba. For more information, please visit Procuba website.
Competent Organisation For the Declaration
Ministry of Foreign Affair of Cuba
Requests For Specific Authorisations
All businesses must be approved by the government.

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Investment Opportunities

Investment Aid Agency
Pro Cuba - Center for the promotion of foreign trade and foreign investment
Tenders, Projects and Public Procurement
Tenders Info, Tenders in Cuba
Globaltenders, Tenders & Projects from Cuba
DgMarket, Tenders Worldwide
Other Useful Resources
Chamber of Commerce of Cuba

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Latest Update: April 2024