Investing in Cuba - Doing business in Cuba

by Chief Benjamin Elue
(UK)

Dear Sir,

With due respect, I am requesting for your cooperation in Building a Tourist Hotel or Commercial Real Estate in your city and or any other viable investment opportunity in your Country.

I am sorry if this is not inline with your profession. Your positive response shall be treated if you are willing to help.
Chief Benjamin Elue.

ANSWER by Vic Webmaster Havana-guide.com

You must understand that doing business in CUBA is very different than doing business in other countries. Cuba is a country where the Communist Party rules the country and is the dominating factor in the every day life. All businesses are dominated and regulated by the government. A few basic rules:
1) A foreign investor has to accept that his operation in Cuba will be a joint venture with a Cuban State Company and that the Cuban Government will have a 51% share of the new joint venture.
2) All labor force will be supplied by a Cuban government agency that imposes the (low)salary.
3) Any foreign workers are subject to a Cuban work permit.
4) Exporting money out of the country is regulated and need approval from the Cuban authorities.
5) The official position is that investments in Cuba are wellcome, but in practice this applies only to large companies and multinationals. Small or medium sized businesses, such as a restaurant, bar, clothing shop etc. are not allowed. Small business in Cuba is State owned and operated, only the "paladar restaurants" and "Casa particulares" are allowed forms of bussines under strict regulations and control. Further reading:
Doing business in Cuba
Havana business info
Investing in Cuba