In June 2026 Cuba approved 176 economic reforms, the biggest shift since 1959. Here is what each major change says, and what it means for you, kept current as the rules evolve.
This is a guide, not legal advice. Cuba's rules can change quickly, so read it alongside our honest look at the risks, and confirm anything material with qualified counsel before you act.
For the first time since 1959, Cuba allows private and foreign banks and currency exchange houses, and lets businesses hold overseas accounts and make international transactions.
A real banking rail is the piece that was missing. Paying suppliers, getting paid, and moving capital become possible, the single biggest unlock for any business that touches the outside world.
Foreign investors can now put capital directly into private companies and cooperatives, with no obligatory state partner, and may even take stakes in state enterprises.
Outside money can finally reach private Cuban businesses directly. This is the legal basis for real partnerships, joint ventures and deals.
Cubans living overseas can now invest in and help run private businesses on the island, channeled through the foreign-investment framework.
If you left, you can build back home. This turns the diaspora from senders of remittances into owners and partners.
MSMEs can now exceed 100 workers, own more than one business, and partner with state enterprises. State firms are also being converted into commercial entities.
Businesses can finally grow instead of staying artificially small. Bigger companies mean bigger, more serious opportunities.
Companies no longer have to hire through state employment agencies. They can recruit and contract workers directly.
You decide who works for you and on what terms, a basic condition for running a serious operation.
Private businesses can import and export on their own, and the non-state sector can even import and sell fuel at retail.
Direct access to supplies and markets, with fewer bottlenecks standing between your business and the world.
Surface rights now extend up to 99 years and usufruct rights beyond 50, and currency exchange houses are being established.
Long time horizons and a legal way to exchange currency are what make real estate and long-term projects financeable.
MSMEs are approved at the municipal level through the Municipal Administration Councils. Core taxes have included roughly 10% on sales and services, 5% on use of labor, 14% for social security, and 1% for local development, with some exemptions in the first month of activity.
Know the real cost of formalizing before you start. We keep this guide updated as procedures and rates change.
Yes. As of June 2026, Cuba allows private and foreign banks and currency exchange houses, and lets businesses hold overseas accounts.
Yes. The 2026 reforms remove the obligatory state partner and allow direct foreign investment in private companies and cooperatives.
Yes. Cubans abroad can now invest in and help run private businesses on the island through the foreign-investment framework.
The US embargo remains in force and was tightened in 2026. For anyone connected to the US, sanctions are a real constraint. See our Risks page and consult qualified counsel.
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Join the founding membersThis page summarizes public reforms for general information only and is not legal, financial, or investment advice. Read it with our Risks & Realities and Terms & Disclaimer, and confirm anything material with qualified counsel.