I am swamped by questions about buying real property in Cuba and how to go about it. I get them from France, from Canada, from Spain and from many other far off places, but also from Hialeah and even Oklahoma after the new relationship between Cuba and US was announced on December 17th 2014. What follows is a short answer to that line of questioning, anchored in three basic principles.
First: only those individuals residing in the island can buy real property, meaning those who live in Cuba (either natives or foreigners with visas allowing them to work or invest in Cuba).
Second: even residents in Cuba are limited to one piece of real property in their name (Cubans can also own a vacation home, but I do not know anyone who does) and must live in it.
Even after I explain this, many people (some of my loved ones even) who have no intention to move to Cuba – at least for as long as Trump remains just a candidate- insist that there must be a way to get around it, driven by “first mover fever” and forgetting the wise saying in Mark 10:31, “But many that are last will be first, and (the) first will be last”. [Read more…]