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How can I Protect My Assets?

by Pipo

I would like to marry a Cuban girl, buy a house and operate as a casa particular?
I know that I have to buy it under her name but there is a way to protect my assets in the event that something goes wrong? (divorce)

ANSWER by Vic webmaster

First this I am no lawyer, so don't take this as legal advice. Having said this, there is almost no protection. When you are wealthy and have more assets in Canada it's wise to marry first in Canada with a contract or an agreement that protects your assets in Canada, and then to get married in Cuba. Take some precautions, the house will be registered under the Cuban citizens name.
The best you can do is limit your financial exposure, buy something cheap, you can always upgrade later. In general in a Cuban divorce the assets are divided fifty-fifty between both partners. Note, that your Cuban partner can not buy a house (there are exceptions) but only can swap her present house against a new one. In a lot of these operations is payment under the table (black money) involved, so the risks are considerable that you lose money. Set a financial limit, money that you can afford to lose and consider the money as a possible loss.

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