On Friday, the Cuban Council of Ministers unveiled Decree 325, part of the Foreign Investment Law regulations, in the Official Gazette No. 11 Special Edition of 2026. This document presents an updated, annotated, and harmonized version of this regulation along with Law 118 from 2014, which together form the legal foundation for foreign investment on the island.
Originally issued on April 9, 2014, Decree 325 was designed to implement Law 118 "On Foreign Investment," approved by the National Assembly of People's Power on March 29 of that year. The First Final Provision required the Council of Ministers to draft its accompanying regulations.
Labeled as GOC-2026-495-ES11 and appearing on pages 19 to 36 of the Gazette, this decree addresses six major areas.
It governs the procedures for presenting Foreign Investment Opportunities and approving the Portfolio of Foreign Investment Opportunities. It also establishes the process for negotiating and submitting business proposals with foreign investment for approval. Furthermore, it outlines the rules related to monitoring and controlling ongoing business operations. The composition and duties of the Evaluation Commission for Businesses with Foreign Investment are also delineated. In addition, timelines for evaluating and approving foreign investment applications are set, and procedures for the dissolution, termination, and liquidation of foreign investment modalities are regulated. The Ministry of Foreign Trade and Foreign Investment (MINCEX), led by Vice President of the Council of Ministers Oscar Pérez-Oliva Fraga, oversees this process.
According to Article 7 of the decree, "the Ministry of Foreign Trade and Foreign Investment is responsible for preparing and updating the Portfolio of Foreign Investment Opportunities, which is approved by the Council of Ministers."
Each year, leaders of central state administration bodies must submit their investment opportunity proposals to MINCEX within the first quarter. Although the Portfolio is updated annually, the regulations allow for additional revisions within the same fiscal year.
The release of this special edition is part of an accelerated regulatory update process that Cuba has pushed forward throughout 2026.
In June, Decree 153 amended several articles of Decree 325 to streamline project evaluation and approval.
On September 3, the Council of State approved Decree-Law 128/2026, which amended Law 118 to permit direct hiring of workers by foreign-funded companies and expand their financial autonomy, removing the mandatory state mediation in personnel hiring.
Special Edition No. 11, published the following day, consolidates the updated and harmonized versions of both fundamental regulations governing foreign investment in Cuba, amid a severe economic crisis the regime is attempting to alleviate by attracting foreign capital.
On September 3, Pérez-Oliva announced that Cuba is working on a comprehensive update of the Foreign Investment Law, which is set to be discussed and approved during the November session of the National Assembly of People's Power.
Understanding Cuba's Foreign Investment Regulations
What is the purpose of Decree 325 in Cuba?
Decree 325 aims to implement and regulate the Foreign Investment Law, providing a structured legal framework for foreign investments in Cuba.
Who oversees the foreign investment process in Cuba?
The Ministry of Foreign Trade and Foreign Investment (MINCEX) is the governing body responsible for overseeing foreign investment processes in Cuba.
How often is the Portfolio of Foreign Investment Opportunities updated in Cuba?
The Portfolio of Foreign Investment Opportunities is updated annually, with the possibility of additional revisions within the same fiscal year.