You may have heard about Puerto Rico as a prime vacation spot. We have near perfect weather year round, miles of pristine beaches and the only rainforest in the United States territory.
Besides an ideal vacation destination, we also make an ideal business partner. Through our relationship with the United States, all Puerto Ricans are American citizens and English is one of our official languages. We use the United States postal service and the US dollar is our currency. Also, our banking system is regulated by federal agencies that include the Federal Reserve Bank of New York (FRB) and Consumer Financial Protection Bureau (CFPB).
Puerto Rico’s strategic location and participation in the U.S. free trade and customs system makes us a vital ally for the exchange of goods and services with countries in the Caribbean, North, and South America.
Public Law No. 20 of 2012 provides attractive tax incentives for companies that establish and expand eligible export services businesses on the island. On the other hand, the Public Law No. 22 of 2012 seeks to attract new residents to the island by providing certain exemptions from local income taxes on particular gains realized or accrued after the individual becomes a resident of Puerto Rico.
Public Law No. 20 benefits are:
Public Law No. 22 benefits are:
Puerto Rico offers other Incentive Laws that benefit specific industries. Learn more about how these laws can help you start your business here.
For your convenience, at our Investor Services Hub a group integrated by different business units will offer you a variety of products and services in a single location. A team of professionals will be providing you with advice and managing all of your financial affairs, both in your personal and commercial endeavors.
We provide your company a single point of contact for all of your banking needs and a team of specialized professionals always available to serve you and your business.
Our team will also work hand in hand to put you in contact with the necessary experts in other areas such as, but not limited to:
Our goal is to have your business and personal life in Puerto Rico up and running in the shortest amount of time possible.
To learn more about the benefits of investing in Puerto Rico, visit The All Star Island. Contact us and allow us to be your business ally in this new, exciting venture.
Founded in 1893, Popular, Inc. (NASDAQ: BPOP) is the No. 1 bank by both assets and deposits in Puerto Rico, and ranks 36th by assets among U.S. holding banks. We are a full-service financial institution with $47.3 billion in assets and operations in Puerto Rico, the United States, and the Caribbean.
Mr. Fernandes serves as Vice President of Business Development in charge of promoting Puerto Rico in Latin America. He also provides support on various subjects ranging from tax, financial, investment opportunities to introduction with the government. Fernandes has over 20 years of experience in the financial industry. Prior to joining Banco Popular in 2012, he worked for BBVA Venezuela in different positions associated with commercial banking. He completed his career in Venezuela as office director of large companies. Mr. Fernandes earned a BA in Finance from the Jose María Vargas University and participated in two leadership programs from the Institute of Higher Learning in Administration (IESA by its Spanish acronym).×
Mrs. Quintana, Senior Vice President in charge of the Wealth Management Division, responsible for the offering of integrated financial services to Popular’s high net worth clients. She joined the Division in 2010 and prior to that led the private sector team at the Corporate Banking Division. Quintana held important roles in the commercial business, helping build an excellent network in both the Corporate Commercial Private Sector and Wealth Management segments. She holds an MBA in Finance from the Interamerican University of Puerto Rico and a BA in Finance and Marketing from the University of Puerto Rico. In 2014, Mrs. Quintana was selected as one of the Top 30 Movers and Shakers by the Private Banking Latin America Organization.×
Mrs. Claudio serves as Vice President and Commercial Relationship Officer in charge of the commercial portfolio for Act 20 clients with over 25 years of experience in the financial industry. Prior to joining Banco Popular in 2005, she worked for Citibank as Relationship Manager for corporate clients (multinationals, government and financial institutions). Ms. Claudio holds an M.B.A. in Finance from the Interamerican University in Puerto Rico and B.A. in Marketing from the University of Massachusetts.×
Mr. Pericás is the Senior Vice President in charge of the Corporate Banking Division. He joined the Division in 2013 and prior to that led Banco Popular’s Special Loans and Legal Divisions, and served as Assistant Secretary to Popular Inc.’s Board of Directors. He boasts ample knowledge and experience in legal risk management and retail and commercial banking. Mr. Pericás holds a Juris Doctor from the University of Puerto Rico, an MBA from Washington University in St. Louis and a BBA in Finance from the University of Notre Dame.×
Mr. Arthur serves as a Wealth Advisor, in charge of providing exclusive and personalized banking services through a single point of contact to Act 22 clients. He joined Banco Popular’s Wealth Management Division in 2007 and has over 14 years of experience in the financial services industry. Prior to joining Banco Popular, he worked as a financial advisor in UBS Financial Services. Mr. Arthur holds a BA in Finance from the University of Puerto Rico and is completing a Juris Doctor at the Interamerican University of Puerto Rico. He is also a Certified Financial Planner.×
To promote the development of the agricultural industry in Puerto Rico, Public Law No. 225 of 1995 offers specific tax incentives to companies or individuals qualified as “Bona Fide Agriculturalist” by the Secretary of Agriculture, that devote, or obtain income, representing 50% of their work as farmers.
To promote Puerto Rico as an International Insurance Center, Public Law No. 399 of 2004 grants an attractive fixed tax rate, guaranteed over a period of 15 years and renewable for an additional 15, to insurers and reinsurers that export and import products and services related to this sector.
To encourage investment by local and foreign companies in key sectors of Puerto Rico’s economy, Public Law No. 73 of 2008 grants fiscal incentives and credits guaranteed over a period of 15 years to eligible manufacturers, among others.
To promote the development and worldwide competitiveness of Puerto Rico’s hotel industry, Public Law No. 74 of 2010 grants fiscal credits that will reduce construction and operation costs guaranteed over a period of 10 years, renewable for an additional 10.
To promote the production of renewable energy and foster sustainable development, Public Law No. 83 of 2010 reforms, organizes, and standardizes existing incentives for the creation and use of sustainable renewable energy and alternate energy sources, while granting new incentives over a period of 25 years.
To promote Puerto Rico as an international Financial Center, Public Law No. 273 of 2012 provides tax incentives, allows the creation of decrees and the fixing of penalties to eligible international financial entities, while regulating their organization and operations in Puerto Rico. This is granted over a period of 15 years, renewable for 2 additional periods for a total of 45 years.
To promote and boost the local creative industry, Public Law No. 173 of 2014 extends the benefits of Law 20 of 2012 to creative companies devoted to exportation of their services, granting a number of benefits over a period of 20 years, renewable for an additional 10 years.