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With Cuba officially removed from the U.S. state sponsors of terrorism list as of Friday, May 29, efforts to re-establish diplomatic ties with Cuba after more than 50 years continue to move forward. Speaking with Helen Ferre in her latest episode of Issues, titled “Preparing for Business with Cuba,” Buchanan Ingersoll & Rooney Shareholder Jennifer Olmedo-Rodriguez discusses her first-hand account of life in Cuba in the mist of historic change and the potential risk factors and benefits when it comes to preparation of doing business in Cuba.

Recently visiting Cuba with several other attorneys from the Florida Bar, Olmedo-Rodriguez says she was struck by the level of hope and enthusiasm the citizens had for change.

The purpose of the trip was to gain a better understanding of Cuba's business landscape and culture.

As an emerging market, people are looking to Cuba for cultural and business reasons, the host explained as she asked for Olmedo-Rodriguez's recommendation to entrepreneurs looking to explore the country for business opportunities. In response, Olmedo-Rodriguez explains that investing in Cuba remains illegal under United States law and recommends that entrepreneurs should weigh the pros and cons of doing business there.

"There are inherent risks associated with doing business in Cuba," she tells the host. 

Watch the full episode and learn more about the business and culture of Cuba as relations with the United States continues to grow.