Registering a company in Cuba involves a complex process that requires careful navigation of the country's unique regulatory environment. It is advisable to work with a local legal advisor who can provide guidance and support throughout the process. By following this guide and utilising the provided resources, you should be equipped with a basic understanding of what the process entails. Adherence to the requirements and guidelines will be crucial to ensure a smooth registration process and a successful start for your company in Cuba.
Step 1: Choose your company type
The first step in registering a company in Cuba is to choose the type of company you want to register. The most common types are:
- Joint Venture
- International Economic Association Contract (AEAI)
- Wholly Foreign-Owned Company
Step 2: Choose a company name
You'll need to choose a suitable name for your company. Be aware that the Cuban government may have guidelines for acceptable names.
Step 3: Prepare the required documents
Prepare the necessary documentation for your chosen company type. The key documents usually include:
- Articles of Association
- Application for Company Registration
Please consult with a local legal advisor for a comprehensive list of required documents, as Cuba's regulations can be complex and specific.
Step 4: Identify company officers and shareholders
You will need to identify at least one director or representative. Shareholders can be individuals or corporate entities. However, restrictions may apply depending on the nationality of the shareholders and the type of business.
Step 5: Capital requirements
Cuba does not generally stipulate minimum capital requirements, but the proposed investment must be approved by the Cuban government, which will assess whether the capital is sufficient for the company's intended activities.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Cuban Chamber of Commerce. The application process is complex and requires government approval at several stages. As such, it is strongly recommended to work with a legal advisor who is familiar with Cuba's laws and regulations.
Step 7: Register for taxes
After your company is registered, you must register for taxes with the Cuban Tax Office (ONAT). This can be done in person at the local tax office.
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant Cuban authorities for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 6 to 12 months or more, due to the need for government approvals at multiple stages.