What Business in Cuba Looks Like

Sunday, February 1, 2015
Question for the Obama Administration:

How have the Cuban people benefited from decades of European and Canadian investment in Castro's monopolies?


They haven't.

Excerpt from The Financial Times:

“Cuba is one of the only places where every direct investment requires the authorization of the highest government body. It is also different since nearly everything is owned by the state,” said Sabastiaan Berger, a Dutch corporate lawyer with more than 15 years’ experience in Cuba and the chief executive of Ceiba, whose investments include the Miramar Trade Center and hotels.

“Can you do business here?” asks Cameron Young, a Canadian lawyer and Mr. Berger’s longtime partner. “Of course. The trade center is full.” But, he added: “Your state partner is also the supplier, the employer of your staff, the buyer, the regulating authority and the entity that taxes you. So it’s a complex place to enter into a normal business transaction.”