This Tuesday, May 5, the island launched an economic reform that allows Cubans abroad to invest directly in key sectors. The measure seeks to attract capital in the midst of a structural crisis and under increasing sanctions from Washington.

First modification: 05/06/2026 - 03:04

Cuba took a significant step in its economic policy by putting into force Decree-Law 117, a regulation that enables Cubans residing abroad to invest directly on the island, in key sectors.

The measure, which had been announced by the Government since 2024, is presented as a response to the deep structural crisis facing the country and the growing international pressures, particularly from the United States, a country that, under the mandate of Donald Trump, has assured that Cuba is a "failed state."

The new legal framework establishes the “immigration status of investors and businesses” for Cuban citizens abroad, allowing them to participate in economic projects without the need for intermediaries and also reducing the bureaucratic measures that prevented them from sending money to the island.

The regulations were published in the Official Gazette and came into force immediately, in an attempt to mobilize capital from a diaspora estimated at nearly three million people and while the island territory suffers from constant blackouts that complicate the lifestyle of citizens.

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Bet on strategic sectors

From the Government, the reform is presented as a change that transcends the commercial sphere and seeks to redraw the role of citizens who emigrated, to maintain a connection with their country.

But in addition, authorities such as the Minister of Foreign Trade and Foreign Investment, Oscar Pérez-Oliva, have indicated that the objective includes attracting “large investments” in sectors considered priority such as tourism, mining and energy, key areas for the economic recovery of the island.

The opening to foreign investment by Cuban citizens comes in a context of limited access to multilateral financing and contraction of the state productive apparatus.

Read alsoDonald Trump extends US sanctions against the Cuban Government - France 24

Changes in immigration status

One of the most relevant elements of the regulations is the elimination of the concept of “emigrant”, which until now applied to those who stayed outside the country for more than 24 consecutive months.

Now, with the new legislation, it is expected that citizens will be able to access rights similar to effective residents if they obtain investor status or maintain economic ties that are easily reviewed by the authorities.

The head of Identification, Immigration and Immigration of the Ministry of the Interior, Mario Méndez, assured that those who access this category will enjoy “the same rights” as residents in the national territory. In addition, he indicated that the Government is working on complementary regulations to guarantee the legal protection of these investments.

For its part, the Cuban Foreign Ministry specified that interested parties must process this condition through consulates, as long as they have an approved business project on the island and links with local economic entities.

The reform also includes changes to the Immigration Law that will come into force within 180 days. Among them, the possibility stands out for Cubans abroad to keep their properties on the island even if they remain abroad for more than two years, a restriction that until now generated legal uncertainty.

Likewise, the concept of Effective Immigration Residence is introduced, which recognizes as residents those who remain in Cuba at least 180 days a year. However, those who demonstrate roots through family, work or property ties may also access this condition.

Context of tension with Washington

But the implementation of the norm does not occur under an isolated scenario, as it comes just after a long series of tensions with the United States that has intensified its pressure on the leftist Cuban Government, under the argument of forcibly changing its economic and political system, sensitive points about the Díaz-Canel administration that considers that these are non-negotiable internal areas.

Since the beginning of the year, the White House has toughened its sanctions against Havana, including a recent executive order that expands restrictions on foreign companies and individuals with commercial ties with Cuba, especially in strategic sectors such as energy and finance.

In addition, it substantially blocked the island's access to oil docking at its ports, aggravating the country's already critical energy situation and causing prolonged blackouts throughout the country, which in turn kept the economy in mid-drive.

With information from EFE.

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