Non-monetary contributions in micro, small and medium-sized enterprises, the need for regulatory integration in Cuba

Abstract

The theoretical and practical approach to micro, small and medium-sized enterprises in Cuba is relevant even though its legal formulation in Decree Law 46 of 2021 is recent. The process of incorporation and creation of the company statutes requires a notarial deed as a substantial requirement for this initial process, and therefore the notary plays a decisive role in this process. The lack of regulatory integration between part of the legal system and the recent legal provisions supporting micro, small and medium-sized companies has created legal loopholes that affect the viability of making non-cash contributions and, more specifically, of some movable and immovable assets, Taking into consideration that the legal act of contribution is not conceived as a title of acquisition, this paper aims to identify some of these legal loopholes that may conspire against the purpose of forming the share capital with a wide range of assets that by the will of the partner can integrate the share capital of the micro, small and medium-sized enterprise for its operation and other functions that it has.