16
May
2023
Risks of Bank Acquisition in Puerto Rico: Compliance, Loan Books, and Regulatory Pitfalls
Category: Business Planning, International Ban...
In this post, I’ll consider the risks of buying an existing bank. All of these issues must be considered before buying a bank in Puerto Rico or elsewhere. The primary risk areas wh...
02
May
2023
US Banking License vs. Puerto Rico International Banking License
Category: International Bank License, Offshore...
In this post, I will compare and contrast US banking licenses with international banking licenses in Puerto Rico.
24
Apr
2023
New International Banking Regulations for Puerto Rico in 2024
Category: Business Plan, Business Planning, In...
In this post, I will look at the proposed changes to Puerto Rico's international banking law, Act 273. I expect these changes to be approved for 2024 and to improve the island's in...
24
Apr
2023
Puerto Rico Cracks Down on International Banks: A Look at the Recent Closures
Category: International Bank License, Offshore...
In this article, I look at the reasons several banks have been closed in Puerto Rico over the last couple of years. The regulations and requirements to operate in Puerto Rico have ...
29
Oct
2021
Puerto Rico’s Act 60
Category: Puerto Rico
Puerto Rico’s Act 60 is an excellent tax program for US citizens or residents that are willing to relocate to Puerto Rico. Here’s what you need to know about Puerto Rico’s Act 60 i...
28
Oct
2021
Banks in Puerto Rico are Exempt from US Tax Treaty Information Exchange
Category: Puerto Rico
Banks in Puerto Rico are exempt from US tax treaty information exchange agreements. They are also exempted from the Common Reporting Standards and FATCA. Thus, banks in Puerto Rico...
15
Oct
2021
How Many International Banks are there in Puerto Rico
Category: Puerto Rico
In this post, we’ll look at how many international banks are there in Puerto Rico as of October 2021. I’ll also cover how many new licenses have been issued in recent years and you...
14
Oct
2021
Employee Requirements for Banks in Puerto Rico
Category: Puerto Rico
In this post, I’ll consider the employee requirements for banks in Puerto Rico. How many and which employees must be based in Puerto Rico? What are the recommended employee numbers...
13
Oct
2021
Puerto Rico Tax Incentives for Bank Owners
Category: Puerto Rico
In this article, I’ll look at the Puerto Rico tax incentives for bank owners. These are the personal tax benefits of living in and owning a bank in the US territory of Puerto Rico....
05
Oct
2021
Process to Purchase a Bank in Puerto Rico
Category: Puerto Rico
In this post, I’ll outline the process to purchase a bank in the US territory of Puerto Rico. Once you/we have identified a target bank, these are the steps I recommend to ensure t...