What Motivates You to Start Investing in Puerto Rico
- Puerto Rico is trying to improve its infrastructure, and this is helping it to strengthen its economy situation.
- There are some tax benefits. The government provides a 100% tax exemption for some types of profits, and a 90% exemption from personal property taxes to some types of companies.
- Puerto Rico’s next financial plan includes $17 billion received from the United States, so this will noticeably improve its economy.
- Products manufactured in Puerto Rico get the “Made in USA” sticker.
Also read: A Simplified Definition of Commercial Law
What are the Procedures Necessary to Establish a Company in Puerto Rico?
- Choosing the company name.
- Choosing the company headquarters.
- Applying for an employer ID number.
- Applying for trader’s record.
- Appointing a company representative.
- Determining the activities of the company.
- Determining the capital and the shares.
- Signing and submitting the certificate of incorporation.
- Appointing company directors.
- Determining the duration of the company, either for a certain number of years, or for the end of its activity, or a permanent company.
- Completing the tax procedures.
Also read: The Importance of Having a Commercial Lawyer Before Starting Your Investment