Opening a company in Cuba requires attention in terms of business conditions, procedures, and operating rules. This article provides information about the main types of companies available in Cuba, plus other relevant details about the business climate in this country. Please read the following lines and then get in touch with our local experts for personalized assistance in company formation in Cuba.
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Types of companies available in Cuba
Ready to start a business in Cuba? Here are the main business entities you can explore before making a decision:
- micro, small, and medium-sized enterprises (MIPYMES or PYMEs) are private companies and the most popular options for international investors wanting to expand their portfolios in Cuba. Private ownership is permitted through MIPYMES in Cuba, as these are the limited liability companies or SRL variant;
- joint ventures are also popular business options in Cuba. These are seen as “empresas mixtas”, or better said, a partnership between state-owned companies and international investors;
- foreign capital companies allow 100% ownership in Cuba, although there aren’t such popular options due to a wide range of approvals that need to be obtained;
- international companies can also open branches in Cuba;
- non-agricultural cooperatives are also a proper business option in Cuba; however, businessmen should pay attention to the formalities imposed.
Considering the types of companies available in Cuba, you can choose the right entity for your future activities here. Plus, you can discuss further details with our local specialists in company incorporation in Cuba.
How to open a private company (MIPYMES) in Cuba
A private company in Cuba can be set up considering these formalities & procedures:
- the incorporation process starts with the local Office of the Commercial Registry in Cuba, part of the Ministry of Justice.
- individuals opening a private company in Cuba will have to obtain residency first.
- entrepreneurs will have to appoint a company representative who will act with a power of attorney. He/she must submit a written request for opening a private company in Cuba.
- a detailed business plan will have to be drafted and presented to the Ministry of Economy and Planning in Cuba.
- a provisional bank account is required for opening a private company in Cuba.
- if the Ministry of Economy and Planning approves the business plan, the company will be formalized with an official Notarial Deed.
- the private company will have to be registered with the National Tax Administration and the Office for Statistics in Cuba.
- the Commercial Registry will then issue the Certificate of Incorporation/Registration of the company in question.
These are some of the key incorporation procedures of a private company in Cuba. Let our local experts help you with all the formalities if you are a foreign investor in Cuba.
About the business climate in Cuba
If you are a foreign entrepreneur who wants to start a company in Cuba, it is recommended to explore the business climate of this country:
- The Cuban economy grew by approximately 4% in 2025.
- The private sector business continues to grow, despite various challenges linked to US tariffs & restrictions.
- The authorities are focusing on the expansion & use of green energy, a sector where international investors find a wide range of business opportunities in 2026.
- Even though Cuba is not an offshore jurisdiction, the country offers low taxation for international investors. For instance, there is no corporate tax imposed for at least 8 years. After these years, company owners will pay a 15% CIT.
We invite you to contact our local experts in company formation in Cuba if you want to start your business here. We provide tailored services at affordable prices.