Cuba allows private businesses to incorporate, limits size to 100 employees

CUBA STANDARD — After a decade of announcements and high expectations for a key reform measure, the Cuban government allowed the incorporation of small and medium-size private businesses, while setting limits for their size.

Businesses of up to 100 employees can now incorporate as a “Sociedad de Responsabilidad Limitada” (SRL), with one or several partners who contribute to the company’s capital.

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