The Council of State of Cuba approved on Friday the decree law "On the Migratory Status of Investors and Businesses of Cuban Citizens Residing Abroad," which establishes a special migratory category for émigrés who participate in the island's economy.
The measure was adopted during a regular session chaired by Esteban Lazo, president of the State Council, reported the Cuban News Agency.
The legal document establishes immigration status for Cuban citizens residing abroad who apply for it and participate in the Cuban economic model, in accordance with the regulations set forth by the norms governing this provision, the Cuban Parliament specified.
The regulation aligns with the measures announced by the government on March 16 regarding the participation of emigrants in the national economy, and corresponds with Law 171 on Migration and Law 118 on Foreign Investment.
The Deputy Prime Minister Oscar Pérez-Oliva Fraga, the main spokesperson for these measures, had detailed that Cubans residing abroad will be able to invest in small and medium-sized enterprises, create or participate in financial institutions, open bank accounts in foreign currencies, participate in investment funds, develop agricultural businesses with access to usufruct land, and operate as providers of virtual asset services.
The most significant change, according to Pérez-Oliva, is the elimination of the restriction that limited these investments solely to permanent residents in Cuba, which opens the door to the Cuban diaspora, estimated at over two million people, primarily in the United States.
"This opens a different space for the participation of this community in the economic and social development of the country. We are talking about alliances that could be established, for example, between the Cuban private sector and foreign capital linked to our diaspora," declared the official.
However, analysts and legal experts warn that the opening lacks real legal guarantees. In Cuba, there are no independent courts capable of protecting investors in the event of conflicts, the legal framework can be changed at discretion, and the confiscation of property is still included in the legal system.
The case of the Cuban-American Frank Cuspinera Medina, who reported from prison the fabrication of charges to justify the expropriation of his company, illustrates the concrete risks that potential investors from the diaspora might face.
Since the end of 2025, many foreign companies have reported difficulties in transferring funds out of Cuba, and the existing U.S. sanctions add another layer of complexity for those residing in the United States who wish to invest in the island.
The U.S. Secretary of State, Marco Rubio had already described the measures announced by Havana as insufficient to address the economic crisis facing the country, the worst in decades, characterized by food shortages, prolonged blackouts, and widespread infrastructure decay.
During the same session of the State Council, an agreement was reached to unify the public service activity into a single department located within the municipal assemblies of the People's Power, a structure that until now had been divided between that municipal body and the councils of Municipal Administration.
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