Cuba Authorizes Direct Hiring, Offshore Bank Accounts and Tourist Opening
11 Articles
11 Articles
Cuba authorizes direct hiring, offshore bank accounts and tourist opening
From this moment on, foreign entrepreneurs will be able to hire employees without state intervention, the firms will have more administrative facilities to operate or carry out import or export activities in Cuba, after the government has implemented several rules that regulate a historic economic opening approved in June.
The reform breaks with the previous scheme that forced foreign corporations to hire staff exclusively through state employing agencies.
On September 3, 2026, the legal norms implementing the economic and social transformations related to foreign investment, foreign trade and tourism were published in the Official Gazette. The post Published in the Official Gazette new legal norms on foreign investment, foreign trade and tourism (+ PDF) first appeared on Cubadebate.
Decree-Law 128 amends the Law on Foreign Investment in Cuba and allows the direct hiring of workers, the opening of accounts in foreign banks and greater autonomy in the destination of profits.
The measures were officialized this Thursday, with the publication in the Official Gazette, in the midst of the growing pressure from the United States to the island's leadership.
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