Table of Contents
The investment sectors in Cuba which are considered priorities are:
- agriculture and forestry;
- the biotechnological and pharmaceutical industries;
- the food, sugar, light, chemical, electronic, iron, steel and machine fields;
- health care;
- construction industry;
- energy and mines;
- wholesale trade.
Our Cuba company formation professionals can provide more details on the investment sectors that are considered priorities in the country.
Sectors which are not accessible to foreign investors in Cuba
In accordance with the Article 11.1 of the Law No. 118, foreign investment can be made in numerous sectors in Cuba, with the exception of:
- The health care services for local population, excluding their business organizations;
- The education services for local population, excluding their business organizations;
- The armed forces, excluding their business organizations.
In concordance with the Constitution of Cuba, the press, the radio, the television, the film industry and other mass media forms are never to become private property.
The Portfolio of Opportunities
Investment opportunities in Cuba are endorsed through a Portfolio of Opportunities issued by MINCEX (the Ministry of Foreign Trade and Investments) and agreed by the Council of Ministers, which is published yearly, offering general details on all the investment sectors in Cuba and providing investors with the main information of the projects which represent priorities in the country.
Information included in the Portfolio of Opportunities
According to the current Cuban legislation, the description of the suggested foreign investment opportunities which appear in the Portfolio of Opportunities includes information in connection to:
- Name of project;
- Goals, purpose and bases;
- Identification of the Cuban investor and his or her participation in the investment;
- Foreign investment vehicle;
- Term of cogency;
- Forecasted investment amount and the principal profitability indicators;
- Present circumstances of the investment sectors in Cuba or the service to be undertaken, which requests the incorporation of foreign investment;
- Other characteristics.
The Law 118: “Foreign Investment Act” in Cuba
The new Law 118 of 2014 offers a new definition of the legal framework and confers great incentives for foreign investors in a significant moment when the government of Cuba needs foreign investments to carry on the country’s economic development and foreign investors need the country’s government to accomplish it through pro-investment strategies and assurances.
If you need to know more, please contact our company formation advisors in Cuba.