Property
Sale of homes legalised in 2011, with foreign ownership tightly limited
Decreto-Ley 288/2011 legalised the sale and gift of homes between Cuban residents for the first time since 1959, ending the era of permuta swaps as the only route. Ownership is registered in the Registro de la Propiedad, and a household is generally limited to one permanent home plus one holiday home. Foreign nationals may not usually buy residential property outright unless they are permanent residents, though foreign investors can hold real rights within approved projects.
Key rules
- Jurisdiction — National; Registro de la Propiedad and municipal housing authorities
- Deadline — Transfer of a home: formalised before a notary and registered in the Registro de la Propiedad
- Deadline — Transfer tax: 4 per cent payable by each of buyer and seller on the higher of price or assessed value
Governing law
- Ley 65/1988 General de la Vivienda
- Decreto-Ley 288/2011sale of homes
- Ley 118/2014real rights for foreign investment
- Decreto-Ley 322/2014
In practice
The one-home-plus-one rule is the structural constraint that prevents an ordinary Cuban property market from developing, since accumulating residential property for rental or resale is not permitted for residents. Foreign participation is confined to real rights, typically surface or usufruct rights, granted within an approved investment project rather than freehold ownership of land.