The freehold buying and selling of residential real estate became legal in Cuba on November 10, 2011, marking a major milestone on the island’s road to economic liberalization. In addition, the Cuban government is encouraging the creation of small businesses and private farming. More than 180,000 “self- employment” licenses have been issued since 2010, and […]
Land Tenure in Cuba: Implications and Potential Models for Foreign Real Property Holdings and Investment in a Future Cuba
Notes1 Over the years, despite its socialist agenda, the Fidel Castro government has established certain private rights in real property for its citizens, albeit with far more limitations than those rights enjoyed by individuals in non-communist countries. This particular government’s gradual retreat from Marxist ideology regarding real property rights underscores the basic economic truth that […]
Taxation of Cuban Confiscated Assets After Property Claims Settlements: Issues for Taxpayers and the U.S. Government
From 1959 onward, the Cuban revolutionary government confiscated assets such as homes, businesses, farms, factories, and personal property belonging to U.S. taxpayers and others.1 This was the largest seizure of U.S. property in history, greater than the value of American assets taken by all other Communist governments combined.2 Although the Castro regime promised compensation for […]