A small number of US companies have made announcements to do business in and with Cuba - but the potential is seen as being far greater. Pedro Freyre, a partner at Akerman, said: 'Clients now have a change in perspective on Cuba. Before, they worried about doing something that was not allowed. Now, they are worried about being left behind.' Mr Freyre says he gets between one and five prospects asking him about Cuban opportunities each week. 

Safeguards

But the lawyers are not telling clients that working with Cuba will be easy. Lawyer Jim Whisenand used to advise businesses on dealing with Eastern Europe and has transferred that specialism to Cuba. He said: 'If you want the same safeguards and regulations of investing in New York or Miami, then you should be investing in New York or Miami.'

Source: Miami Herald