On Dec. 17, 2014, President Obama announced that the United States and Cuba would restore diplomatic ties for the first time in more than 50 years. American businesses have long viewed Cuba as an untapped market, ripe for investment in real estate and tourism, as well as agriculture, infrastructure, sugar and nickel mining. President Obama’s announcement prompted many to consider ways in which they might be able to get a head start in the Cuban market. However, multiple obstacles remain for foreign investment. Americans should view the recent announcement as a positive sign for future potential but not a green light for investment today.

This article was written by Cynthia Allner and Abbey Ruby.