Cuba expands the economic participation of its citizens abroad

Published at: 17/03/2026 02:27 PM

The Cuban Government announced new provisions that allow compatriots resident abroad to participate in domestic economic activities, including access to private companies, productive projects and operations in the country's financial system.

The Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment, Óscar Pérez-Oliva, reported that compatriots may be partners or owners of private companies, establish alliances with state or private entities and participate in initiatives of various dimensions, including those related to infrastructure.

The measures provide for the concession of land in usufruct for productive projects and the opening of foreign currency accounts in national banks, with prior authorization from the Central Bank of Cuba, in accordance with the provisions of current legislation, Prensa Latina reported.

Pérez-Oliva reiterated the country's willingness to maintain commercial relations with US companies, although he stressed that the restrictions of the embargo limit such exchanges.

The decisions are aimed at diversifying sources of funding, boosting the economy and strengthening ties with the Cuban community living abroad.

Mazo News Team