Note:
U.S. Citizens are prohibited from purchasing property in Cuba
While the Cuban gov't permits purchase of property by foreign nationals, and has legalized the use of US dollars, US citizens are restricted from traveling to/from and transacting business in Cuba.
The US enacted economic sanctions against Cuba in July of 1996. As a result all financial transactions must be approved via a license from the Internal Revenue Service. These sanctions apply to all US citizens and businesses, including those who choose to enter Cuba via another country, such as Canada or Mexico.
License is granted only for travel, and is limited to gov't officials, journalists and those travelling due to extreme family situations. Travel transactions are limited to $100 per day. Please note: the US does not maintain an embassy in Cuba.
If you are not a US citizen, you should contact the proper government agency in your country to determine what restrictions (if any) apply to you.
Links to the US State Dept and Cuba's "Presentation of the Law on Foreign Investments" may be of some help:
