Investing in Cubaammopreviz2022-03-04T06:24:57+00:00
Investing In Cuba
Law 118 for Foreign Investment provides basic investment protection and other general rules relevant to foreign investors. The fiscal regime applying to the La Demajagua mine includes;
Equal numbers of directors with all Board decisions to be unanimous.
Senior management, and consultants nominated by Antilles Gold.
Project loans and concentrate sales proceeds will be deposited with an International Bank, from which payments will be made to service loans, foreign creditors, and dividends. Funds remitted to Cuba will be limited to local creditors and Government charges.
The corporate tax rate (15%) waived for approximately 5 years of operations.
The goods and services tax of 10% reduced by 50% for the project.
Import duties not applicable to the project development.
Sale of shares in the Joint Venture company is un-restricted.
Disputes to be resolved at the International Court of Arbitration (“CCI”) in Paris.