U.S. Businesses Eye Cuban Market

Clark Hill PLC
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The Obama Administration’s move to normalize relations with Cuba continues to spur commercial interest in the island. Despite the U.S. economic embargo on Cuba, regulatory changes announced by the U.S. Department of the Treasury and the U.S. Commerce Department have created new opportunities for U.S. businesses.

In the last several weeks, U.S. companies including Google, Carnival Cruise Line, Western Union, Paypal, Stripe, and Starwood have announced plans to capitalize on opportunities on the island. This momentum adds to the existing list of U.S. companies including AirBNB, Sprint, and Florida’s Stonegate Bank who have already entered the Cuban market.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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