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For over 50 years, the ability to travel to Cuba and do business or trade with Cuban nationals has been governed by a byzantine set of regulations administered by the Department of Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS). (more…)
Now that summer is here, hopefully most of us are planning our vacations. Although most summers, I return to my native Puerto Rico to visit family and spend some time at the beach, I’m always reading the newspaper (digitally these days) to look for new places to travel. If you’ve been reading the news over the past several months, there have been quite a few articles about a new Caribbean destination for travelers: Cuba. (more…)
Earlier this month, Major League Baseball eliminated a burdensome requirement that made it difficult for MLB franchises to sign Cuban nationals. Until last month, a Cuban national wanting to sign with a MLB franchise as a free agent was required to obtain a specific license from the United States Treasury’s Office of Foreign Assets Control (OFAC). (more…)