The Spanish companies with presence in Cubaespecially large hotel chains, they are waiting to learn more about the warning made this Thursday by the Cuban authorities to several foreign companies that they will not be able to repatriate the currencies they have in the country’s banks.
The main Spanish hotel chains have interests in Cuba, including Meliá, Iberostar, Be Live, Roc, Barceló, Valentín, NH, Blau, Axel and Sirenis, and some have expansion plans in the country, according to data from the ICEX, the Spanish Agency for Export and Investments.
From the point of view of business presence in the tourism sector, Spain is first among the countries involved in the tourism industry in Cuba, with more than 100 administration contracts approved to date, managed by some 20 foreign chains, some of which also have mixed companies, according to these data.
Likewise, several Spanish companies are involved in the development of large real estate projects associated with golf courses, three of which (Globalia, Atlantic Group Investment and Golf and Resort beach) have agreements signed with the Cuban authorities.
The companies consulted by EFE They have avoided ruling on this matter, and only Meliá He has assured that, for the moment, they have not communicated anything.
The Cuban authorities have communicated on Thursday to several foreign companies that will not be able to repatriate the currencies they have in bank accounts in the country, which in some cases amount to several million dollars, as they said to EFE Business sources.
The announcement has generated a strong discomfort among the affected companies, which in some cases have complained to their respective governments, according to business and diplomatic sources with knowledge of the situation, which asked to remain in anonymity.
Government blocks the repatriation of foreign exchange to foreign companies settled in the country
In return, the Cuban authorities are offering those affected – in a series of individual meetings that call “interviews” – the possibility of opening a new type of bank accounts in currencies on the island.
It is a pilot and very restricted modality – although some sources believe that their use could be extended to mixed companies – with which these companies could operate without limitations, although these accounts will admit only new capital, which means that the one of the previous accounts cannot be transferred and only exterior transfers will be accepted.
