Doing Business in Puerto Rico
Puerto Rico has a lot to offer right now.
This is the right moment to invest in Puerto Rico and the Island is the business destination every leader should be looking at due to several important factors.
From its relationship with the United States, where a legal framework and protection, with no passports needed in order to travel to Puerto Rico’s highly skilled bilingual workforce, its world-class infrastructure and aggressive tax incentives laws, the Island is a lot more than a business paradise.
Let us further explain how we can be of assistance!
13 of the top 20
medical device companies operate in Puerto Rico
12 of the top 20
pharmaceutical and biotechnology companies have manufacturing operations in the Island
7 of the top-selling
medications in the world are produced in Puerto Rico
Located in the Caribbean, Puerto Rico is located at the crossroads between North and South America, at just 3.5 hours airtime from New York and at only 4 days sailing from Atlantic ports in the U.S. and from ports in the Gulf of Mexico.
Based on the latest U.S. Census, Puerto Rico has 3,725,789 people, living in an Island of 3,435 square miles. Year-round temperatures range from 74F (23C) to 81F (27C) in the summer, making it an ideal paradise all year long.
The United States and the Commonwealth of Puerto Rico (the "Commonwealth") share a common defense, market, and currency, and Puerto Ricans are citizens of the United States.
Establishing a Business
Puerto Rico has a full-fledge benefit package for investors interested in expanding or relocating their business to the Island. Furthermore, many fast-track operations have been enacted in order to facilitate and speed up the process of starting doing business in Puerto Rico sooner than in many other markets.
BDO Puerto Rico, as a one-stop financial and consulting firm, offers its clients step-by-step help through the whole process of relocation, including preparation and filing of the required tax exemption applications, negotiation of tax exemption decrees, United States and Puerto Rico tax planning, technical analysis of current structures, business restructuring, entity formations, among many others.
In addition, our firm may assist you with several accounting services such as business valuations, transfer pricing, tax returns, audit and bookkeeping.
Puerto Rico offers a highly attractive incentives package that includes a fixed corporate income tax rate – one of the lowest in comparison with any U.S. jurisdiction – various tax exemptions and special deductions, training expenses reimbursement and special tax treatment for pioneer activities.
Recently enacted tax laws provide special benefits to new Puerto Rico bona fide residents, including: 100% tax exemption from Puerto Rico income taxes on all dividends, on all interests and on all long-term capital gains accrued after the individual has become a bona fide resident of the Island.
Also, with maritime and marketing incentives and by being the largest non-contiguous free trade zone in the US, Puerto Rico is a one-of-a-king investing alternative.
About Puerto Rico