Dmitri Mihhailov
Managing Partner
Leads Prifinance and personally oversees complex multi-jurisdiction structures. Your Cuban entry gets partner-level review before anything is filed.
Register a company in Cuba, the permission economy.
There is no quick company formation in Cuba - and we will not pretend otherwise. Every foreign entry runs through state approval under Law 118: a joint venture, an association contract or a wholly foreign company, measured in months and negotiated against the state's own investment portfolio. The US embargo bans dollars and any US nexus, workers are hired through a state agency, and hard currency leaves slowly. What remains is real: an educated 11-million market, nickel, tourism, biotech and rum, Mariel's tax holidays - for strategic capital with patience. This page is that briefing.No quick company here - every foreign entry is state-approved under Law 118, in months. No dollars, no US nexus, workers via state agency, money exits slowly. What remains: 11M educated people, nickel, tourism, biotech, Mariel at 0% for a decade - for patient, non-US capital. The full briefing starts here.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
6,000+
companies servedcompanies served
Updated
Cuba · at a glance
Legal routeLaw 118 - state-approved JV / 100%
Time to approvalMonths, not weeks
Profit tax15% JV · Mariel 0%→12%
US embargoFull - zero US nexus
WorkforceHired via state agency
Remote setupAssessment yes · entry needs presence
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Cuba in brief
The permission economy, as it works.
Cuba is not a jurisdiction you register into; it is one you are admitted into. The private mipymes legalised since 2021 are reserved for Cubans. A foreigner enters under Law 118 of 2014 - as a joint venture with a state partner, an international economic association contract, or, on paper and rarely in practice, a wholly foreign company - and every route runs through MINCEX approval against the state's published portfolio of wanted projects. The terms can be genuinely attractive: 15% profit tax for joint ventures with holidays often granted, and the Mariel Special Development Zone offers zero for ten years, then 12%. Spanish hoteliers, Canadian nickel miners and European cigar houses have run profitable Cuban ventures for decades.
The heavier half. The US embargo is total in its reach: no dollars, no US persons, no US-touching banks - payments run in euros through the few banks that will, and the terrorism-list designation makes even those cautious. Workers come through the state employment agency, which takes its wedge in hard currency. Law 118 guarantees repatriation; the central bank's empty currency reserves decide the timetable, and lately it has been long. Add rolling blackouts, shortages and the deepest economic crisis since the nineties - and our advice is plain: Cuba is for strategic, patient, non-US capital entering priority sectors with eyes open, and for nobody else.
Cuba admits, it does not register. Mipymes are for Cubans; foreigners enter by Law 118 - JV, association or rare 100% - approved by MINCEX against the state's own wish-list. Admitted terms are real: 15% JV tax with holidays, Mariel at zero for ten years. Spanish hotels, Canadian nickel and European cigars have made it pay for decades.
The other half: total US embargo - euros only, zero US nexus; state-agency labour with a hard-currency wedge; repatriation legal but queued behind empty reserves; blackouts and the deepest crisis since the nineties. Cuba is for strategic, patient capital in wanted sectors - and for nobody else. We say so before we invoice.
Packages & pricing
Two ways to engage.
01 - ASSESSMENT · CUBA
Frank Entry Assessment
from$3,400USD · fixed
The decision file before any commitment - whether your project fits Cuba's portfolio, which route fits your capital, and what the embargo means for your structure.
✓Portfolio fit - is your sector actually wanted✓Route memo: JV vs association vs 100% vs Mariel✓Embargo & sanctions screening of your whole structure✓Repatriation reality check for your revenue model✓Partner and counterparty mapping✓A written go / no-go recommendation
Optional add-ons: banking feasibility (EU rails) - from $900 · Helms-Burton property screening - from $1,200 · Russia-channel structuring - scoped per case.Add-ons: banking feasibility from $900 · Helms-Burton screening from $1,200 · accounting from $300/month · compliance from $2,000/year.
Request the assessment →02 - APPLICATION · CUBA
Most popularForeign Investment Application
from$5,900USD · from
For projects the assessment supports: the full MINCEX or Mariel dossier, negotiation support and the banking that survives the embargo.
✓Everything in the Assessment package✓Feasibility study & dossier to MINCEX / ZED Mariel✓Negotiation support with the state partner✓Constitution & Registro Mercantil registration✓EUR banking file - no US nexus, defended✓State-agency employment contracts explained
Optional add-ons: resident representation - scoped · accounting - from $300/month · annual compliance - from $2,000/year.
Start with the assessment →Assessment-first pricing, confirmed per engagement. Every cost is itemised before commitment.Starting points, confirmed first. State, notarial and translation fees itemised in your quote.
What you can do
What actually gets approved in Cuba.
The portfolio is the menu: the state publishes what it wants, and these are the lines that move.The state publishes what it wants; these are the lines that move.
Tourism & hotel operationlicensed
The Meliá model. Management JVs with state chains, paid in euros.
Mining & energylicensed
The Sherritt model. Nickel-cobalt JVs and power projects the grid desperately needs.
Rum, tobacco & agro tradelicensed
Export partnerships around the assets the island is famous for.
Biotech & pharmalicensed
Partnerships with a genuinely capable state sector. Vaccines, oncology, licensing.
Mariel manufacturing & logisticsstandard
The zone with the holidays. Assembly, packaging, regional distribution.
The Russia channelstandard
Preferences since 2023. Land leases, Mir payments. Politically driven; we say so.
Tourism JVslicensed
The Meliá model.
Mining & energylicensed
The Sherritt model.
Rum & tobacco tradelicensed
The famous assets.
Biotech & pharmalicensed
A capable state sector.
Mariel zonestandard
0% for a decade.
Russia channelstandard
Preferences - political.
Why Cuba
What is real on the plus side.
✓
Terms, when admitted
15% JV tax with holidays; Mariel at zero for a decade, then 12%.15% JV · Mariel 0%.
✓
An educated market
Eleven million people, strong technical and medical schooling, low crime.Skilled, low-crime.
✓
Assets that endure
Beaches, nickel, biotech, the world's most protected brand names in rum and cigars.Nickel, beaches, brands.
✓
Little competition
The approval wall keeps rivals out. Incumbents enjoy rare moats.The wall keeps rivals out.
✓
Legal repatriation right
Law 118 guarantees it in writing. The queue is liquidity, not law.The queue is liquidity.
✓
Crisis pricing
Entry terms reflect the emergency. Patient capital negotiates from strength.Patience negotiates well.
How it compares
Cuba vs the Caribbean.
The comparison - Cuba is not competing on ease. As of 2026:DR: the workhorse. Jamaica: anglophone services. Puerto Rico: US space. Haiti: specialists only. Cuba: the permission economy. Hardest entry, rarest moat. As of 2026.
| Country | Corporate tax | Signature story | Signature edge |
|---|---|---|---|
| Cuba | 15% JV · by approval | State-approved entry only | The permission economy |
| Dominican Republic | 27% | The pragmatic workhorse | Scale plus tourism |
| Jamaica | 25% | The anglophone services base | English and logistics |
| Puerto Rico | US federal space | Act 60 incentives | America, taxed differently |
| Haiti | 30% | Crisis frontier | For specialists only |
CubaApproval
Profit tax15% JV
StoryPermission economy
Dom. RepublicScale
Corporate tax27%
StoryThe workhorse
JamaicaServices
Corporate tax25%
StoryAnglophone base
Puerto RicoUS
TaxFederal space
StoryAct 60
HaitiFrontier
Corporate tax30%
StoryCrisis frontier
Requirements
What Cuban entry requires.
01
A wanted project - Fit with the state's investment portfolio decides more than capital does. We score it first.
02
State approval - MINCEX or the Mariel authority approves every foreign vehicle. JV, association or 100%.
03
Clean of US nexus - No US persons, dollars, banks or supply-chain touchpoints. The embargo reaches far.
04
A state partner, usually - Wholly foreign entities are legal and rare; most entries are negotiated JVs.
05
Patient capital - Months to approval, longer to profit. Business plans must survive that arithmetic.
06
Agency employment - Staff hired through the state agency at hard-currency rates. Budgeted from day one.
How it works
How entry actually works.
Six stages. The dossier is ours; the calendar is the state's - we tell you that before you spend.Six stages. The dossier is ours; the calendar is the state's - we say so before you spend.
01Same day
Frank briefing
Your project against the portfolio, the embargo and the queue - plainly.
021-2 weeks
Assessment & route memo
JV vs association vs 100% vs Mariel. Scored in writing.
032-3 weeks
Partner mapping
The state enterprises that fit. And their track records.
044-8 weeks
Dossier & feasibility
The MINCEX / Mariel file, built to their template.
056-18 months
Negotiation & approval
The long pole. Terms, shares, land, labour.
064-8 weeks
Registration & banking
Registro Mercantil, EUR rails, agency contracts.
Quick facts
Legal routeLaw 118 / Mariel
Profit tax (JV)15% · holidays common
Mariel0% ×10 yrs → 12%
CurrencyCUP · EUR for business
US nexusZero - embargo
Realistic horizon12-24 months
Assessment$3,400 fixed
The assessment exists to say no cheaply. If your project does not fit the portfolio, cannot survive agency labour costs or has any US nexus, you will know for $3,400 - not after two years of negotiation.
On the ground
On the ground for Cuba.
Prifinance - Cuba desk
Havana
Havana, Cuba
01
State-negotiation experience
Dossiers built to MINCEX and Mariel templates, not adapted from elsewhere.
02
Embargo-proof banking
EUR rails through banks that actually settle Cuba. Screened, documented, defended.
03
Sanctions screening standard
OFAC, Helms-Burton and EU rules checked on every counterparty, every time.
04
Also in Tallinn, London, Dubai & more
A network of offices supporting cross-border structures.
We also have offices in
Tallinn
Estonia
Roseni 13
Hong Kong
Hong Kong
5/F, Yau Lee Centre, 45 Hoi Yuen Road, Kwun Tong
Vilnius
Lithuania
Gedimino pr. 2
London
United Kingdom
7 Bell Yard
Prague
Czech Republic
Vlkova 532/8, Žižkov
Berlin
Germany
Rankestraße 26
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Türkiye
Perpa Ticaret Merkezi, A Blok
Dubai
UAE
33 Level, Al Saqr Business Tower
Toronto
Canada
1110 Finch Avenue West, suite 406
Singapore
Singapore
3 Church Street, #29-68 Samsung Hub
Bangkok
Thailand
Unit P01, Penthouse, VASU1, 1 Sukhumvit 25 Alley
Foshan
China
A-Tower, Yuneng Digital Plaza, 46 Lishui Avenue South
Almaty
Kazakhstan
Republic Square 13
Bishkek
Kyrgyzstan
32 Razzakov Street
Taxation
Cuban taxes, such as they are.
The rates are the friendly part - negotiated entries enjoy terms most jurisdictions cannot match. The real costs sit elsewhere: agency labour, the currency queue and the embargo's compliance overhead.Friendly rates for the admitted - 15% JV, Mariel at zero. The real costs: agency labour, the currency queue, embargo compliance.
JV profit tax - 15%
Half the standard rate; eight-year holidays commonly negotiated.Holidays common.
Mariel - 0% → 12%
A decade at zero, then 12%. The region's most aggressive holiday.A decade at zero.
The labour wedge
Agency employment in hard currency. The tax that isn't called one.The unnamed tax.
Resource surcharge
Up to 50% extra on natural-resource exploitation. Priced per deal.Up to +50%.
The levies that matter
Profit tax - JV / association15% · holidays common
Profit tax - Mariel0% ×10 yrs → 12%
Natural-resource surchargeUp to +50%
WorkforceVia state agency - hard currency
Customs & local taxesPer negotiated terms
Annual complianceFrom $2,000/year
Owners remain responsible for tax where they live. Repatriation is a legal right under Law 118 - and a liquidity queue in practice. Model both.
Your team
The specialists who'll handle your case.
Eugeniu Bevziuc
International Business Consultant
Walks you from first call to signed entry - route, documents, timelines - in plain language, in five languages.
Alex Danila
Corporate Services Specialist
Handles the dossier, screening and the banking file day to day, so your Cuban project moves without avoidable delays.
Follow Prifinance
Active across our channels.
Watch: opening a company in Cuba with Prifinance
Cuba, entered the only way it can be - assessed coldly, negotiated patiently, banked in euros, screened at every step. Or advised against, in writing, for a fixed fee.
Talk to a specialist →FAQ
Cuba, both halves weighed.
Can a foreigner just register a small company in Cuba?+
No. The mipyme regime that legalised private business in 2021 is for Cuban residents. A foreigner enters under Law 118 - a state-approved joint venture, association contract or wholly foreign entity - and approval is measured in months. Anyone selling you a quick Cuban company is selling something else.
How long does approval really take?+
From dossier to signature: six to eighteen months for a well-fitted project, longer for novel ones. Mariel moves somewhat faster. The single biggest accelerator is fitting the state's published portfolio - which is exactly what our assessment scores first.
Can I own 100% of a Cuban company?+
Legally yes since 2014; practically it is granted sparingly, and the state prefers joint ventures where it keeps a seat. We tell you early which route your sector and capital can actually obtain - not which one sounds best.
Is Mariel worth it?+
For manufacturing, logistics and export processing - genuinely: zero profit tax for ten years, then 12%, with one-stop administration. But it is the same state approval, the same agency employment and the same embargo. The holiday sweetens entry; it does not simplify it.
How does hiring work?+
Through the state employment agency: you pay the agency in hard currency, the agency pays workers in pesos, and the wedge between the two is a real cost. Reforms allow direct top-ups. We budget the full loaded cost per head before you commit - it surprises everyone.
Can I get my money out?+
Law 118 guarantees repatriation of profits and capital. The central bank's reserves set the actual timetable, and in the current crisis transfers queue - sometimes long. Where the model allows, we structure export revenues to settle offshore legally, so the queue holds your patience, not your principal.
What does the US embargo mean for me?+
No dollars, no US persons anywhere in the structure, no banks with US exposure - payments run in euros through the few institutions that settle Cuba, and the terrorism-list designation makes even them selective. If any part of your business touches the United States, Cuba is not your jurisdiction. We screen this first, for free, before anything else.
Is it true Russian business gets preferences now?+
Yes - since 2023: thirty-year land leases, tax concessions, Mir card acceptance and political goodwill. It is a real channel and we structure for it. We also say plainly: preferences born of politics can reverse with politics, and we build structures that survive that.
Is now a good time to enter?+
Only for strategic, patient capital. The island is in its deepest crisis since the nineties - blackouts, shortages, emigration. That is precisely why entry terms are negotiable and competition is absent. If your horizon is two years, no. If it is ten, the assessment is worth $3,400.
What does it cost and how long does it take?+
The assessment is $3,400 fixed, two weeks, and ends in a written go / no-go. A full application runs from $5,900 plus state fees, with approval in six to eighteen months. Annual compliance from $2,000. We take no dossier forward that our own assessment scores against.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
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Other jurisdictions & licenses.
Frank briefing
Talk to us before you commit to Cuba.
Tell us your sector, capital and horizon; within one business day a specialist replies with a frank feasibility read, a timeline and a fixed quote.A Cuba specialist will reply within one business day with a frank feasibility read, a timeline and a fixed quote.
✓No obligation; the first briefing is free✓Embargo & sanctions screening before anything✓Written go / no-go for a fixed fee✓EN · RU · ES speaking team