New ways to invest in Cuba and buy oceanfront homes
Prior to the revolution of 1959, for decades, Cuba embraced capitalism and issued stocks and bonds for commerce and infrastructure. Cuba has, to date, defaulted on its issued bonds and they no longer trade on the New York Bond Exchange because of the Helms Burton Law. Since the ascent to greater power of Raul Castro, many investors are once again looking for enlightened change in Cuba and want to invest, in some manner, to benefit from increasing GDP and business within Cuba.
The plans to invest in Cuba marched very well in Havana of end of the Nineties. The government had authorized a Canadian firm of entrepreneur, interested in investing in Cuba, the construction and sale of oceanfront apartments and even signed a contract of $250 million dollars. However, Fidel Castro cancelled the project, which provoked not few critics and disappointment in others interested by the idea of investing in Cuba.
A decade later, the possible construction and sale of oceanfront homes seems increasingly; although the expert on the subject suggest to go slowly and to study the steps adopted by the government , presided by Raul Castro in the form of investing in Cuba. The Cuban president recently signed an executive order, providing a green light to the expansion of projects to invest in Cuba, which includes the construction of 16 golf courses, in beach areas. These fields would be surrounded by luxurious oceanfront, whose prices would oscillate between 250 thousands and the million dollars. The Cuban Minister of Tourism, Manuel Marrero, declared that as of January of 2011 the negotiations with prospect investors will be opened to those interested on investing in Cuba in the construction of 16 golf courses; even thought the official stated there are already four projects that are well advanced in processing permits.
Another proposal to invest in Cuba, lead by a group of Canadian investors is a plan to construct two golf courses and nearly 2,000 homes in the exclusive seaside area of Guardalavaca, in the province of Holguín, the eastern part of the country; a popular tourist destination which attracted two million, 430 thousand visitors in 2009. Included in the list of prospect investors in Cuba is a group of Canadian who would finance the Bellomonte project, in the beach of Guanabo, in the capital of the country. There the idea is to construct a golf course, a small marina and 800 homes.
In spite of the great media coverage that its received the new law on the possibilities to invest in Cuba, Minister Marrero, himself clarified several aspects because the procedures of the operations are not yet defined, specifically those related to the people that could acquire the beachfront properties, those that could invest in Cuba, as well as if the owners could sell the land. Experts concurred on emphasizing these concerns when the Cuban government, as of 2011, offers more details on the operations, then one could only expect a true interest to investing in Cuba.
A decade later, the possible construction and sale of oceanfront homes seems increasingly; although the expert on the subject suggest to go slowly and to study the steps adopted by the government , presided by Raul Castro in the form of investing in Cuba. The Cuban president recently signed an executive order, providing a green light to the expansion of projects to invest in Cuba, which includes the construction of 16 golf courses, in beach areas. These fields would be surrounded by luxurious oceanfront, whose prices would oscillate between 250 thousands and the million dollars. The Cuban Minister of Tourism, Manuel Marrero, declared that as of January of 2011 the negotiations with prospect investors will be opened to those interested on investing in Cuba in the construction of 16 golf courses; even thought the official stated there are already four projects that are well advanced in processing permits.
Invest in Cuba Beachfront Condos
The reasons for the sudden change in the government of the Island are in which it would represent the Cuban tourism to obtain a leap towards an unexplored segment: the one of luxury travel, that it has between his potential market to the United States, a nation that counts on almost ten thousand clubs of golf players and three million yachtsmen, many of which, in case of a relaxation from the Washington embargo, could be interested to invest in Cuba. Among the most developed concrete proposals is that of a group of British businessmen seeking, and to construct a second golf course in the main tourist to invest in Cuba, specifically in Varadero, where they intend to build a second golf course and the main tourist attraction of the island. Besides the playground, they would rise 900 houses, many of them in facing the sea and an pleasant comfort luxury, since the cost of one of these houses in front of the ocean could exceed a million dollars.Another proposal to invest in Cuba, lead by a group of Canadian investors is a plan to construct two golf courses and nearly 2,000 homes in the exclusive seaside area of Guardalavaca, in the province of Holguín, the eastern part of the country; a popular tourist destination which attracted two million, 430 thousand visitors in 2009. Included in the list of prospect investors in Cuba is a group of Canadian who would finance the Bellomonte project, in the beach of Guanabo, in the capital of the country. There the idea is to construct a golf course, a small marina and 800 homes.
In spite of the great media coverage that its received the new law on the possibilities to invest in Cuba, Minister Marrero, himself clarified several aspects because the procedures of the operations are not yet defined, specifically those related to the people that could acquire the beachfront properties, those that could invest in Cuba, as well as if the owners could sell the land. Experts concurred on emphasizing these concerns when the Cuban government, as of 2011, offers more details on the operations, then one could only expect a true interest to investing in Cuba.
