Cuba streamlines foreign investment rules amid sweeping economic reforms

The Cuban government issued Decree 153, amending Decree 325, to simplify and accelerate the approval process for foreign investment projects. The decree, published on 9 July in the Gaceta Oficial, is part of a package of 176 economic and social reforms approved by the National Assembly on 18‑19 June 2026. It sets strict deadlines – a seven‑day window for the Business Evaluation Commission to review applications, another seven days for investors to make adjustments, 15 days for capital‑only changes and up to 60 days for final decisions – and reduces documentary requirements for both foreign and domestic investors.

The new rules also expand the legal framework for mixed‑ownership enterprises, allowing private and foreign capital to participate in state‑owned firms, create joint‑stock companies, open foreign bank accounts, and lift the previous 100‑worker cap on private SMEs. Prime Minister Manuel Marrero Cruz and President Miguel Díaz‑Canel have promoted the reforms, calling for “bold entrepreneurs” while emphasizing enterprise autonomy and worker participation. The measures aim to attract foreign capital to mitigate a severe economic contraction, chronic power shortages and a U.S. fuel blockade that have strained the island’s economy.

Cuban officials also affirmed ongoing dialogue with U.S. representatives, insisting there is no internal split in the leadership. The reforms represent the most extensive restructuring of Cuba’s socialist economy since the Special Period.