The Commerce and Treasury departments have announced regulations that pave the way for certain U.S. exporters, carriers and logistics services providers to set up operations in Cuba.
The United States Commerce and Treasury departments have announced regulations that pave for certain U.S. exporters, carriers and logistics services providers to set up operations in Cuba.
Specifically, the new rules will allow companies to establish and maintain offices, retail outlets or warehouses in Cuba. Exporters authorized by either Commerce’s Bureau of Industry and Security or Treasury’s Office of Foreign Assets Control will be able to ship agricultural products and materials for renovating privately owned buildings.
Provisions have also been made to set up operations in Cuba to provide certain parcel and general cargo transportation services.
These companies will be further authorized to employ Cuban nationals, open and maintain bank accounts in Cuba, and employ persons subject to U.S. jurisdiction in Cuba, Commerce and Treasury said.
“These regulatory changes build on the revisions implemented earlier this year and will further ease sanctions related to travel, telecommunications and internet-based services, business operations in Cuba, and remittances,” Treasury Secretary Jacob J. Lew said in a statement.
President Obama announced the reestablishment of bilateral relations with Cuba on Dec. 17, 2014. Diplomatic ties were reestablished between the United States and Cuba this summer after the Caribbean country was removed from the State Department’s list of sponsors of state terrorism and the U.S. embassy in Havana was officially reopened shortly thereafter.
The new “Enhancing Support for the Cuban People” regulations can be viewed here.
Setting up shop in Cuba
