Cuba will offer visas to foreign property owners

Cuba will grant temporary visas to foreigners who rent or own real estate in the country in its latest bid to boost tourism and foreign investment, it has been reported.

According to the Havana Times, the Cuban government has established a temporary residence visa for foreigners who buy or rent on the island. The visa will be good for a year and renewable.
During their stay, foreigners may engage in activity “related to tourism and business duly authorized by the existing legislation.” If foreigners want to engage in unauthorized activity they must obtain a special permit.

The new regulation comes as Cuba gets ready to open its doors wider with new foreign investment laws coming into action this June. The laws, which are hoped to bring in much-needed capital to the island, offer attractive tax cuts and increased security for investors.

http://www.opp-connect.com/28/05/2014/cuba-will-offer-visas-to-foreign-property-owners/