Cuban Facilitation

Law 77/95

This new law is considered from lots of people a modern instruments, competitive and agile for promoting and offering facilitation to the foreign investments; presently it controls the regime of foreign intervention into the island and surely represents the best evidence of Cuban Government's will to become economically integrated with the others Country, overcoming that period of statizzazione present in the political past of Cuba.
The law on the foreign investments has created a system of valid guaranty and opportunity, also due to a taxation relatively lower as regards others Country and to the direct collection of the profits deriving from undertaken activity.
The art. 12 of the law 77 fix three different juridical procedures that the foreign agents are allowed to realize and exactly:
• Mixed firm: a joint stock company formed by national and foreign stockholders.
• International economic society: association without juridical legal status of national and foreign managers.
• Society made up totally by foreign capital: investments made by firms or people resident abroad.
Foreign operators moreover enjoy a special regime in the matter of customs, job, tax and profits.

Free zones

Decree law 165/96
This law founds four free areas, in particular:
1. Havana in Bond: to the east of the capital.
2. Area Wajai - Rancho Boyeros: near Havana airport.
3. Mariel: harbour area to the westside of Havana.
4. Cienfuegos: harbour area on the southcoast.

According to the art. 20, Ministry of Foreign Affairs has the faculty of accept or refuse the authorization of set up the new activity not later than 45 days from the presentation of the application.