I have had the fortunate opportunity to meet with Dr. Roberto Brier Rivero of Consultores Asociados, SA. when I first went to Cuba on a trip that was put together by my college professor while working on my Masters of Science in International Business degree.
He took the class to a foreign country every year and I was fortunate enough to be in a class that was going to Cuba.
What surprised me was that out of 17 students I was the only one that went on this optional trip over that Thanksgiving weekend.
What better way to spend Thanksgiving than in a 3rd world communist country one might ask?
Actually it was the best Thanksgiving trip I ever had, better than Vegas and South Beach!
I had a great time, met some really cool people, and had the opportunity to learn so much about doing business in Cuba from Dr. Roberto on this and the 7 subsequent trips I have taken since first going in 1999.
Not only did Dr. Roberto assist in the writing of the Foreign Investment Act of 1995, but he has also written many books on the topic including
“Legal Profile of Foreign Investment in Cuba” which covers 110 questions on the FIA of 1995 and what it takes to invest in Cuba including the most popular method of a joint venture with the Cuban Government.
I am looking forward to retiring to Cuba in the next 7 to 10 years and hope to have a nice Bar/Restaraunt w/ a nice upscale small Hotel.
It is my basic understanding in a joint venture that the government would provide the labor at a great rate (normal labor rates paid to employees in cuba are $25 per month) and provide the land.
I would be expected to provide the construction of the building and the furnishings and equipment.
Most of the ventures are on a 50/50 profit split and ownership basis and that would be fine with me, as I would plan to spend my day
not only overseeing the operations of the business but also pursue my passion of daytrading equities and real estate.
Now the only thing I would add to this is there are expected to be substantial changes to the FIA of 1995 in the next year or so that will make it even easier to invest not only in business partnerships but also in real estate projects etc.
I think that the 360 VOX Corp. can accomplish great things with the development of golf courses and hotels in Cuba, they were formally known as Leisure Canada and trade under LCN.V and have just received funding from Dundee Corp (DC.A) and may finally have the financing structured and be ready to move ahead with the 5 proposed projects it has in mind.
Previously the CEO of the company was Walter Berukoff when it was Leisure Canada, and I had the pleasure of meeting him when we both happened to be staying at the Hotel Nacional in Havana and he had a wealth of information on the prospects of investing in Cuba.
He compared it to being the “Last bastion of wealth in the carribean” amazing forward insight this man has, if you care to hear his views this is the link.
He is very bullish on Cuba and the opportunities there.
What do you think? Anyone planning on checking out the opportunities in Cuba?
I know that from meeting expats from America that you live like a King and are treated like a rock star and can do it on a grand a month!
Hope to hear from you on this board and via email,
The Foriegn Investment Act And Doing Business In Cuba