If you intend to invest in Cuba, the country’s Portfolio of Foreign Investment Opportunities is the first document to consult. This material is updated every year to offer general information to potential investors about the fundamental elements of the projects prioritized by the country. The Havana International Fair (FIHAV) is one of the most important scenarios to promote Cuba’s interests in this sphere.
The ExpoCuba exhibition center hosts this important event, which brings together current partners and potential investors considering incorporating Cuba among their commercial destinations. In the lead up to FIHAV 2019, which will take place from November 4 to 8, we offer you some interesting information to convince you to come to Havana and learn about the island’s business potential.
In the Portfolio of Foreign Investment Opportunities you can find information referring to:
- Objectives, links and foundations.
- Identification of investors and participation levels.
- Foreign investment regulations.
- Terms of validity.
- Estimated amount of investment required and fundamental profitability indicators.
According to Article 11.1 of Law No. 118, foreign investment is authorized in all sectors, except:
Health and education services to the population, and armed institutions, except for their enterprise systems.
Should you still want to invest in Cuba, these are the steps to follow:
- Identify a project of interest, which may coincide with one of those presented in the Portfolio of Opportunities, or be proposed by the investor.
- Identify the partners.
- Apply for a A-7 Business Visa for your first exploratory visit at the Cuban consulate in your country, or the D-7 Visa once at the Negotiation stage.
- Receive approval of the business depending on the sector, the modality and the characteristics of the foreign investment.
- Register the business before a notary public in order to receive project approval licenses.
A total of 60 calendar days are required to approve any project, counted from the date of submission of the application, and applicants must be notified of the decision.
The following documents are essential to invest in Cuba:
- Authorized copy of the investment document, duly legalized, protocolized and certified.
- The commercial or similar registry of the country of origin that proves the company’s validity, issued within the last six months.
- Financial statements for the last accounting year, certified by an independent entity. Bank guarantees issued within the last six months.
- Sponsorship letter from the Parent Company, if the investor is a branch or subsidiary, or is represented by an offshore company.
- Certified agreement of the management body where the intended investment is expressed.
- Power of representation, duly legalized.
- Accreditation of experience in the activity in which the investment will be made.
- If the investor is an individual, a copy of identification documents and bank guarantees is presented, issued within the last six months.
For more information visit: www.cepec.cu