Canada has an established and stable trade relationship with Cuba. However, Canadian companies active or considering doing business in the Cuban market should be aware that as of May 2, 2019, the United States government has fully implemented Title III of the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996, commonly known as the Helms-Burton Act. This decision could have implications for Canadian companies. Therefore, Canadian companies and investors in Cuba are encouraged to familiarize themselves with Canada’s Foreign Extraterritorial Measures Act (FEMA) protecting Canadian businesses from extraterritorial application of foreign laws.
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