Why Cuba? > Advantages of investing in cuba
With the passing of Law No. 118 and its complementary norms a favorable business climate has been set up in Cuba. Other advantages are added to tax incentives and these invite foreign investors to choose Cuba as investment territory. Among these advantages:
- Formulation of sectoral policies for identifying investment opportunities with foreign capital that permits access to the Cuban market and its consumers.
- Secure and transparent legal framework.
- Political, social and legal stability.
- Geographical location in the center of an expanding market.
- Climate of safety for foreign personnel.
- High indicators for education, social security and health of the population.
- Existence of an investment promotion agency (Center for the Promotion of Foreign Trade and Foreign Investment –CEPEC by its Spanish initials), subordinated to the Ministry of Foreign Trade and Investment (MINCEX), which has connections and agreements with counterparts.
- Existence of a Chamber of Commerce that has links with similar organizations from other countries and has carried out investment promotion actions.
- Existence of embassies and commercial representative offices abroad.
- Highly qualified workforce.
- International agreements signed by Cuba with the Latin American Integration Association (ALADI), the Caribbean Community (CARICOM), the Bolivarian Alliance for the Peoples of Our America (ALBA), the Common Market of the South (MERCOSUR), the European Union (EU), the World Trade Organization (WTO).
- Governmental policy that prioritizes research and technological innovation.
- Promotional institutions at the service of investors with qualified personnel.
- Access to maritime transportation by the main international shipping companies.
- Basic infrastructure throughout the country: communications networks; over 20 airports; ports admitting deep-draft vessels; over 95% of national territory with electrical power; rail and highway communication.
Cuba has signed Agreements to prevent Double Taxation with Spain, Barbados, Italy, Russia, Portugal, Qatar, Lebanon, China, Vietnam, Austria, the Ukraine and Venezuela.