The new rules mainly affect the required documentation and require many issues to be resolved more quickly.
EFE/14ymedio, Havana, July 10, 2026 – The Government published a set of regulations on Thursday amending the implementing rules of the 2014 Foreign Investment Law. Most of the changes are technical in nature and affect deadlines and document formalization, with the aim of “streamlining the processes for evaluating, approving, and operating the various forms of foreign investment.”
Decree 153/2026 modifies the procedure for submitting foreign investment opportunities and updates the rules governing the promotion of foreign investment. It also establishes new requirements for submitting foreign investment business proposals, regulates partnership agreements for the creation of joint ventures, and sets deadlines for the evaluation and approval of foreign investment applications.
The regulation, signed by Prime Minister Manuel Marrero, eliminates some intermediate procedures by repealing articles that required additional consultation and documentation steps, which should, in principle, reduce bureaucracy and speed up the process.
The regulation eliminates some intermediate procedures by repealing articles that required additional consultation and documentation steps, which should, in principle, reduce bureaucracy
The new rules state that applications accepted by the Ministry of Foreign Trade and Foreign Investment are forwarded to the Foreign Investment Business Evaluation Commission, which must evaluate them within seven business days.
If the Commission requests revisions, applicants will have seven calendar days to make the required changes and submit the revised proposal.
Applications requiring approval by the Council of State are submitted by the Ministry of Foreign Trade and Foreign Investment through the Council of Ministers, and decisions approving or rejecting the applications must be issued within 60 calendar days.
Other decisions, such as increases or decreases in capital without changes in share ownership, must be made within 15 business days, while decisions approving or denying the incentive fund must be issued within seven business days.
Proposals submitted by parties seeking to establish businesses must include an application for approval accompanied by the business plan endorsement, corporate bylaws, the business plan itself, proposed Cuban executives for management bodies, a list of import and export products, and any other documents required by the Ministry of Foreign Trade and Foreign Investment.
Foreign investors’ business plans must include, among other documents, a certificate from the commercial registry of their country of origin issued no more than one year earlier, valid bank references, financial statements for the most recent fiscal year certified by an independent entity, a letter of sponsorship from the parent company if the investor is a branch or subsidiary, and legalized powers of attorney.
Domestic investors are required to submit a certificate from the investor’s governing or management body, documentation certifying the company’s registration and corporate purpose, as well as financial statements for the most recent fiscal year.
Decree 153 marks the third amendment to the regulations since their approval in 2014, following changes made in 2018 and 2019, and is linked to the recent package of economic and social reforms
Decree 153 marks the third amendment to the regulations since their approval in 2014, following changes made in 2018 and 2019, and is linked to the recent package of 176 economic and social reform measures aimed at liberalizing and decentralizing the Cuban economy.
On Wednesday, in an analysis by the consulting firm Auge, which has advised foreign investors interested in Cuba for years, the firm stated that, based on its experience, the announced reforms represent a good opportunity for companies that have already been operating on the Island for years.
However, it advises those who do not yet have businesses in Cuba to wait and closely monitor developments over the coming months, given the current uncertainty. “The combination of tighter sanctions and the energy crisis means that the risk-return equation remains unfavorable. Waiting for conditions to improve is not a bad strategy; it is a prudent one,” Auge warned.
Translated by Regina Anavy
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