Cuba: Beginners Welcome, but with Experts in TowAugust 12, 2016 | Articles |
A recent article in Daily Business Review discusses the legal aspects that US firms will need to consider as trade between the US and Cuba becomes normalized.
Eduardo Palmer, former chair of the international law section of the Florida Bar, warns that the regulatory idiosyncrasies on the island will pose a formidable obstacle to those unacquainted with Cuban law.
Still, Havana has shown its proclivity for international arbitration in case of commercial disputes.
In such situations, the author writes, "Spanish law is another viable alternative. Spanish law may be more acceptable to the Cuban government than English law for several reasons, and it would certainly be a better choice for U.S. companies than Cuban law. Unlike English law, which is based on common law, Spain and Cuba are civil law jurisdictions. Additionally, the Cuban legal system, including its commercial laws, is based in large part on Spanish law. Thus, Cuban lawyers are well equipped to understand Spanish law, which of course is also written in their native Spanish language. And unlike Cuba, Spain has modernized its commercial laws."
Carey Rodriguez Milian, LLP recently formalized it's decades-long association with Spanish law firm Díaz-Bastien Abogados, which itself has a long history of work in Cuba. The two firms have formed a strategic alliance through the CRMG Cuba Practice Group to provide unparalleled legal counsel to US firms seeking to do business on the island.
"Cuba is entering into an uncharted phase of rapid political and social change," says Juan J. Rodriguez, CRMG partner and former Director of the Cuban-American Bar Association. "While businesses should exercise caution and awareness of complex local considerations, there is no doubt that there are important opportunities to explore without delay."
"Our strategic alliance with Díaz-Bastien brings to the table concrete experience with the transformation process that Cuba will have to undergo," he continues. "That is what makes our Cuba Practice Group unique, allowing us to better serve clients in the future, whether they be US or European interests."
Read the full column in the Daily Business Review here.
For more information on CRMG's Cuba Practice Group, click here.
For more information of CRMG's strategic alliance with Díaz-Bastien Abogados, click here.