Regulations

Under Decree-Law 288, passed in 2011, restrictions were eased for foreigners purchasing property in Cuba. Further changes also accompanied the 2014 Cuban Foreign Investment Act, which means international investment is now permitted in nearly all commercial sectors in Cuba.

Law 118 specifically cites the intended purpose of closer relations between the state and foreign investors. These include Cuba receiving more foreign financing, businesses creating new sources of employment and the introduction of modern management techniques.

While developing product chains and renewable energy sources, the Cuban economy will remain state-driven, but tax exemptions and incentives will increasingly be provided to spur investment, designed to create a mutually beneficial public – private sector financial system.