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The Challenges of Doing Business in Cuba

Relations are thawing, but entrepreneurs should tread carefully.

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By Jason Ankeny

Dan Forbes

Opinions expressed by Entrepreneur contributors are their own.

This article is part of our Trends 2016 coverage.

Fewer than 100 miles of ocean separate the U.S. and Cuba, but the nations have spent the last five decades in different worlds. Ever since John F. Kennedy signed Presidential Proclamation 3447 on Feb. 3, 1962, declaring "an embargo upon all trade" in response to Cuba nationalizing U.S.-owned Cuban oil refineries without compensation, Americans have been effectively blocked from doing business in the country.

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