In this video, Gunster international law attorney Anaili Cure discusses some of what has to happen to move forward with business investment or deals in Cuba. Should disputes arise, it is important to note that Cuba laws will likely rule.

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Video produced by TheLaw.TV

Business investment and dispute resolution in Cuba

Assuming that you've determined that you can do business in Cuba – either because you fall under one of the general licenses issued by the Office of Foreign Assets Control (OFAC) and the Bureau of Industry and Security, or because you've obtained, with the help of counsel, a special license – and you've determined that the Cuban government will allow you to go into Cuba and do business, and you've determined that it's a smart business idea, then you will have a possibility of a good return on investment.

The next question becomes: What happens if your deal goes bad in Cuba?

The short answer is that you're likely going to be disputing or litigating your contract in a Cuban forum.

Although the Cuban government has taken steps to try to attract foreign investment – such as issuing the 2014 Law of Foreign Investment (LFI); entering into bilateral investment treaties with foreign countries (approximately 60); and establishing the Cuban Court of International Trade Arbitration – it still states that disputes with investments in Cuba have to be litigated or arbitrated in Cuba.

Notably, one way around this are bilateral investment treaties, but the U.S. and Cuba do not have one.

So, more likely than not, you're going to be in a Cuban forum, under Cuban law, trying to resolve whatever dispute arose.

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