In recent years, Cuba has become a far less risky investment opportunity for foreign buyers than most people think. And with Cuba boasting an internationally recognised standard of healthcare and a global literacy rate higher than that of USA, the Island nation is looking more and more attractive to retirees looking to settle and individuals seeking a second home.
The primary reason behind the sudden boom in interest towards Cuban real estate follows the introduction of more foreigner friendly investment laws, and the weakening of the embargo placed by the USA on Cuba over 50 years ago.
With the US coast only a short flight away, and a unique blend of tropical and cultural attractions, Cuba is quickly becoming a natural draw for tourism and attracting investors from across the globe.
The Cuban government still manages much of the property transactions throughout the island, but there are a number of ways through which foreign investors can purchase property.
The first way is to purchase real estate through a partnership with a Cuban local; however, this method can only result in partial ownership of the property. On-the-other-hand, one can purchase property through a foreign capital company registered I Cuba, and this method results in total ownership of the purchase. Due to the challenges still present with foreign ownership of Cuban property, it is highly recommended that investors consult a professional to discuss options.
The island of Cuba offers a relaxed lifestyle with a kind year-round climate, with a range of domestic sea and air routes to take visitors and locals to the islands various attractions, Havana is the capital of Cuba and represents the economic capital of the country, however, escape the city to discover the adventurous attractions available in Cuba, including sea-fishing, water-sports and kayaking.