Why invest in Cuba?

– Political, social and legal stability

– Security climate

– Favorable, safe and transparent legal framework

– Institutions at the service of investors

– High education indicators.

– More than 20 universities, dozens of research centers and prestigious scientific institutions

– High indicators in social security and health of the population

– Scientific potential and highly qualified workforce with the ability to assimilate new technologies

– Infrastructure (existing and under development) for ports, railways, roads and communications

– Favourable geographical location

– Availability of natural resources

 

 

 

Steps to invest in Cuba

1. To have defined towards which sector you are going to go (industrial, services, commercial, etc.)

2. Request in the Cuban consulate (embassy) of the country of origin the A-7 Business Explorer Visa or the D-7 Merchant Visa, issued in the Cuban consulate of your country of origin to introduce you in the trade with Cuba. Entry visas for tourists cannot be modified or changed in the national territory for any other category.

3. While in the national territory, you must go to the Chamber of Commerce to find out which companies are licensed to import the products you offer by their harmonized code and/or tariff heading.

These can be:

-Importing and/or exporting companies belonging to many of these industrial groups.

-Companies with mixed capital authorized to import or export directly their inputs and outputs.

The foreign branches established in Cuba facilitate contacts, but do not sign contracts. You can contact directly and without any mediation with these companies to make your offer or attend the services of one of the consultancies authorized for these purposes. This must be accompanied by catalogs or other forms of sampling.

The foreign entrepreneur does not need any government authorization to market directly with these companies, since they have accreditation for such activity.

The entities authorized to carry out import and export activities of goods are obliged to comply with the basic principles and rules established in Resolution 50/2014 of the Ministry of Foreign Trade and Foreign Investment (Mincex) ¨Reglamento General on Import Activity and Exportación¨, of March 3, 2014.

Commercial operations in the national territory will be carried out through a Cuban importing company or trade agent.

Required documents

  • Authorized copy of the constituent document duly legalized and notarized, certification X From the commercial register or similar of its country of origin that accredits its validity, with no more than six months of issue.
  • Financial statements for the last accounting period, certified by an independent entity. Bank guarantees with no more than six months of issue.
  • Letter of sponsorship from the parent company, if the investor is an affiliate or subsidiary or is represented by an offshore company.
    Certified agreement from the management body expressing the conformity with the intended investment. X Duly legalized powers of representation.
  • Proof of experience in the activity to be invested.
  • If you are a natural person, a copy of your identification documents and bank guarantees issued no more than six months ago.

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The One Stop-Shop for Foreign Investment (VUINEX) is managed by a functional department belonging to the Ministry of Foreign Trade and Foreign Investment (MINCEX). Your fundamental goals are:
– Provide information and advice on foreign investment,
– Promote business opportunities,
– Facilitate the constitution of foreign investment modalities, the realization of its investment processes and the processing of permits, licenses and authorizations.

The implementation of  VUINEX constitutes an indirect incentive to foreign investment, as it allows speeding up and facilitating the procedures, giving interested parties the possibility of accessing a place where representatives of the different responsible bodies and authorities can be found.

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