Posted by Staff Writer on 4/28/2019 to Business Law
IncSmart Florida (Small Business and Startups) - Florida business may see slowdown Cuba travel restrictions. President Trump announced new restrictions limiting non family travel to the communist nation, and to tighten the economic embargo. Trump is making it illegal to conduct business in Cuba. Airlines and Cruise Lines will be most impacted by the new restrictions. Port Miami and Port of Everglades in Fr. Lauderdale are two of the busiest ports in the world.
The Foreign Claims Settlement Commission has almost 6000 claims from American companies and American citizens for property that was seized during in 1961 by the Castro family. The loss is valued over $8 billion dollars. Cuban Americans will have to provide proof to the judges that the property belonged to them. American companies doing business in Cuba have been preparing for these lawsuits.
By IncSmart Staff Writers
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