In this July 24th issue, lawyers with Cuba practices coincide in one thing: they anticipated the U.S-Cuba business boom will have to wait. Trump´s administration partially reversed some of the rapprochement efforts began by the Obama administration.
The directive limits non-academic education travel to group trips, prohibiting self-directed individual travel allowed by the predecessor administration. However, it still allows Cuban-Americans to visit family and send remittances.
These policies are also intended to cut any business dealing that could profit Cuban military linked companies. “It’s hard to do business in Cuba without touching the Cuban military one way or another”, James Meyer stated, “Cuban military run companies (…) control over 60 percent of all business in Cuba”, he added.
Added to these, “GAESA –a military run- controls not only almost all the tourism and hospitality industry, but also retail, car rentals, gas stations (…)” Gretel Echarte said. Generating a grid-lock to business in Cuba. Thus, “Most firms will hold onto the Cuba contacts they made for the day conditions improve in the legal market”, said James Meyer.
To read the full article, please visit http://www.dailybusinessreview.com/id=1202793615347/For-US-Lawyers-Its-the-Cuban-Business-Revolution-That-Wasnt?slreturn=20170704142516