Doing business in Cuba: Proceed with caution
The international law section of the Florida Bar Association just organized its first trip to Cuba, spurred by changes in U.S. regulations that ease relations with the communist-led island.
The Sun Sentinel spoke with trade lawyer Peter Quinter, 50, who leads the international law section and helped coordinate the visit. Cornell-educated Quinter lives in Boca Raton, works in GrayRobinson’s offices in South Florida and has visited more than 40 countries. It was his first time in Cuba.
The interview was edited for brevity and clarity.
What was the gist of the trip? It was four days and three nights, with 30-plus lawyers and a total group of 38 people. We left Miami on Wednesday, May 27, and a half hour later, landed in Havana. We met with attorneys and non-attorneys in Cuba in light of changing U.S. regulations. We wanted to understand the laws of Cuba: how they’re made, how they’re changed, how to handle a commercial dispute under Cuban law.
We were only in Havana, a city of 2.5 million people on an island of 11 million. We were told Cuba has about 2 million cellphones and 600,000 cars, of which half are owned and operated by the government.
What most surprised you about the visit?
What struck me was the physical decay of the buildings — from commercial to homes — that clearly have not been maintained for a long time. I also was struck by the friendliness of the average Cuban and their openness to discuss any topic with us, including their admiration for the American people, their hope for an end to the American embargo and their criticism of their own government.
I had expected the Cuban economy to be more dynamic.
What opportunities do you see for U.S. business with Cuba?
The U.S. is the only country that has an embargo on Cuba. We learned the island’s phone system is Italian and the hotel where we stayed part of a Spanish chain. In the hotel, we saw businesspeople from Russia, Colombia, Venezuela, Panama, France, Spain, Canada — and lots of American visitors.
Because of the embargo, business opportunities for Americans now are very limited. To expand them will require both the American and Cuban governments to change the laws and policies.
I encourage people to explore opportunities, but also to be very cautious: Wait until new regulations are issued by the U.S. government and Cuban government to give investors more legal protection.
When laws change, where do you see the most business opportunities in Cuba, especially for companies in Broward and Palm Beach counties?
Broward and Palm Beach counties