No More Exit Visas!


Nestmann Group, Ltd.

by Mark Nestmann: Feds
Expand Definition of ‘Cash’ to Include Stored Value Cards

One of my favorite
countries in the Caribbean is the Republic of Cuba. Earlier this
month, I visited Cuba once again and found more positive changes

On October
14, the Official Gazette announced a change in migratory
regulations. Effective Jan. 14, 2013, the government will finally
eliminate the exit visa, long an irritant and object of anger and
frustration. Cubans wishing to travel abroad no longer will require
a “Letter of Invitation,” nor submit to background checks
and approvals and pay a high application fee.

there are exceptions. The Gazette speaks of protecting the
“human capital” of the Revolution. This likely means that
the government may restrict the right of highly-educated professionals
(e.g., physicians) to travel abroad. In addition, the government
retains the right to restrict issuance of passports. Further, various
government ministries will present a list of individuals who wonÂ’t
have the right to travel abroad.

Of course,
these restrictions arenÂ’t so different from those the United
States already has in place to restrict or repudiate passports.
U.S. citizens can have their passports cancelled or non-renewed
for offenses ranging from failing to make child support to being
declared an “enemy of the state.”

Most Cubans
I spoke to are happy about the end of the exit visa. The chief of
immigration announced on television that the orders that came from
above were to facilitate quickly all applications for passports.
However, more sophisticated Cubans understand there are some less
desirable implications as well. For instance, they believe – and
I agree – that foreign embassies will “tighten up”
on the issuance of entry visas for Cuban nationals.

Take, for instance,
the USA. If Cubans can now leave their country freely, what will
become of the Cuban Adjustment Act, that was signed during the Johnson
Administration? This law gives any Cuban citizen admitted into the
United States after January 1, 1959 and physically present for at
least one year, to be admissible to the United States as a permanent
resident. Unless the United States is prepared for a big influx
of new Cuban residents, it will need to amend this law.

As a citizen
of the Commonwealth of Dominica, I can visit Cuba anytime without
restrictions. This is in marked contrast to U.S. citizens, who must
obtain a “license” from the U.S. Treasury to spend money
in Cuba. These restrictions are part of the longstanding U.S. embargo
of Cuba, originally placed in force more than 50 years ago by President
John F. Kennedy.

after Jan. 14, 2013, Cuban citizens will be more free and less regulated
by their government to visit the USA than U.S. citizens will be
to visit Cuba. IÂ’ve often said that Cuba and the United States
are moving toward each other, but in different directions. The latest
initiative from Cuba proves my point!

22, 2012

Nestmann [send him mail]
is a journalist with more than 20 years of investigative experience
and is a charter member of The
Sovereign Society
’s Council of Experts. He has authored over
a dozen books and many additional reports on wealth preservation,
privacy and offshore investing. Mark serves as president of his
own international consulting firm, The
Nestmann Group, Ltd.
The Nestmann Group provides international
wealth preservation services for high-net worth individuals. Mark
is an Associate Member of the American Bar Association (member of
subcommittee on Foreign Activities of U.S. Taxpayers, Committee
on Taxation) and member of the Society of Professional Journalists.
In 2005, he was awarded a Masters of Laws (LL.M) degree in international
tax law at the Vienna (Austria) University of Economics and Business

© 2012 Mark

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