Hi, I just got information that it is no longer required to have a min of $5,000 cuc. You do need to show prove of a renter or owner of a home and how you are going to make income. The paper work to be residents take about 2 to 6 months. If you come from Canada, I think you can get up to 6 month visa but if you are like me from USA, up to 60 days, but than I just go and come back in the same day to cancun (cheaper) get 60 days more. We are moving to Cuba by 2016, we are updated.