Havana, Cuba. US Companies Are Willing to Invest in Cuba, But Will Cuba Authorize US Investment?
Miami's cross-border transactions lawyers are hearing from eager clients following the Biden administration's announcement of increased remittances and support for Cuban entrepreneurs. But some attorneys are skeptical about the country's willingness to authorize significant investment sums.
May 26, 2022 at 06:10 PM
3 minute read
Last week, the Biden administration announced several measures meant to reverse Trump-era restrictions on Cuban trade and immigration, such as ramping up immigrant visa processing, loosening travel restrictions, providing Cuban private-sector entrepreneurs with access to e-commerce platforms and cloud technology, and removing the $1,000 quarterly limit on family remittances.
The administration's latest step to thaw U.S.-Cuba relations would allow more money to flow to the country's private sector through remittances. It could also allow U.S. investors to participate in joint ventures in Cuba, which legalized small- and medium-size businesses last year in the wake of mass anti-government protests.
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