Eternity Law International — News — Company registration in Cuba

Company registration in Cuba

Published:
December 22, 2020

For many years Cuba has been trying to create the most favorable conditions for attracting foreign investment. Today, it is a low-tax jurisdiction that is loyal to non-residents and offers opportunities for interaction with American and European corporations. Cuba is an offshore company with a progressive investment legislative base and signed agreements on avoidance of double taxation with more than 8 countries. A business that has a share of local capital, during the first 8 years of operation, does not pay corporate tax. Quite low rates are offered to completely non-resident companies.

Benefits of registering an organization in Cuba:

  • the jurisdiction allows incorporating companies with 100% external capital;
  • offshore organizations are regulated and protected by Cuban civil law;
  • no need to submit any kind of reporting;
  • reliable protection of foreign deposits from changes in the political arena;
  • capital can be 1 peso;
  • there is no need for a local agent and registered office;
  • at the time of establishment, the company is exempted from paying customs duties during the import of the necessary equipment.

Registration procedure and conditions for establishing a company in Cuba

Joint Venture is the most convenient form of business in Cuba. Alternatively, you can create a structure, the capital of which will be entirely foreign in origin. For both of these forms, the same opportunities open up, the only difference is in the registration process. Any industry is open to non-residents.

The new company must have at least two shareholders (one of them is a resident). The company can be managed by 1 director. For a completely foreign organization, an official permit from the authorities is provided. At the same time, the founders are issued business visas, which give the right to non-residents to stay in Cuba for 3 consecutive months.

Visas are issued in several stages:

  • the non-resident founder receives an invitation from a Cuban partner along with an entrepreneurial license;
  • providing a passport to the consulate, filling out a questionnaire (compiled in English), photograph, registration of medical insurance;
  • payment of the applicable competition fee. The fee is about $ 35;
  • confirmation of the non-conviction of the founder;
  • proof of solvency, for which a bank statement is taken.

After that, the founder collects the registration package, fills out the application and submits it all to the Chamber of Commerce.

If you need to register a company in Cuba, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Cuba. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.

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