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 In 1995 Cuba began to open up to the real state business, for which the country has exceptional features: geographical location, climate, increasing foreign investments and wonderful lands. For these reasons the CIMEX Enterprise Group, a private commercial organization, property of the Cuban State, with 20 years of experience, decided to create its own real state entity. To support this they have the advantages of possessing the most complete Free-Trade Zone located East of Havana City, close relationships with the International Financial Bank and its branches around the world, they also have an International Legal Consultancy, the Melfi Marine SA maritime line and a wide trade net and wholesale and retail services, among other benefits.

That is how INMOBILIARIA CIMEX was created and with it, the possibility of joining foreign investors in the construction of high and medium standard houses in Havana City and the areas near its beaches.

Number 77 Law, approved on September 1995, refers specifically to investments in real estate, allows commercial relationships with foreign investors up to 100% foreign property and guarantees the observance of international rules and agreements concerning nationalisation of properties.

This Law authorises investments in real estate and the right to purchase the property or other associated rights. The above-mentioned investments may be used for: houses and buildings used by natural persons who are not permanent residents in Cuba, such as private residences or for tourists, houses or offices for foreign legal persons and development of real estate for tourist use.

Purchase and sale of real states is legalised by a public document and must fulfil other legal requirements such as the Reservation Contract, Contract of Purchase and Sale and the Real State Registry

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