Croatia History, Politics, and Economics

Located in the northern Caribbean, Cuba is a former Spanish colony with Havana as its capital. Since 1959 and the fall of a US-backed dictator, Cuba has been a one-party state led by Fidel Castro and – since February 2008 – by his chosen successor and younger brother, Raul. Its embrace of communism allowed Cuba to receive a lot of Soviet military assistance during the Cold War, allowing it to play a larger than life role in both the region and the world in providing military and humanitarian assistance to troubled spots. It has also been the subject to numerous periods of conflict with the United States and sanctions have been imposed on it from time to time.

It is a multiethnic country whose people include the aboriginal Taíno and Ciboney peoples, as well as those who came over during Spanish colonialism, and the descendants of African slaves. The population of Cuba is 51% mulatto (of mixed European and African lineage), 37% white, 11% black and 1% Chinese. Cuba’s natural resources include sugar, tobacco, fish, citrus fruits, coffee, beans, rice, potatoes, and livestock.

2021
April 2Good Friday
May 1Labor Day / May Day
July 25Revolution Anniversary
July 26Day of the Rebellion
July 27Revolution Anniversary Celebration
October 10Beginning of the War of Independence
December 25Christmas Day
December 31New Year’s Eve
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: 30%
  • Income Tax (Lowest Marginal Rate): 15%
  • Income Tax (Highest Marginal Rate): 50%
  • VAT/GST/Sales Tax: 2.5% (lowest rate), 20% (highest rate)
  • Banco de Crédito y Comercio (Commercial Bank)
  • Banco de Inversiones (Commercial Bank)
  • Banco Exterior de Cuba (Commercial Bank)
  • Banco Financiero Internacional (Commercial Bank)
  • Banco Industrial de Venezuela-Cuba (Commercial Bank)
  • Banco Internacional de Comercio (Commercial Bank)
  • Banco Metropolitano (Commercial Bank)
  • Banco Nacional de Cuba (Commercial Bank)
  • Banco Popular de Ahorro (Commercial Bank)
  • Banco Bilbao Vizcaya Argentaria (Foreign Bank)
  • Banco Sabadell (Foreign Bank)
  • Bankia (Foreign Bank)
  • BPCE International et Outre-Mer (Foreign Bank)
  • Fransabank (Foreign Bank)
  • Havin Bank Ltd. (Foreign Bank)
  • National Bank of Canada (Foreign Bank)
  • Republic Bank (Foreign Bank)
  • Scotiabank (Foreign Bank)

Aadmi can support you with your expansion to Cuba. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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