Establishing a bank in any part of the world requires a nuanced understanding of the specific country's regulatory environment and associated risks. Puerto Rico, a U.S. territory, is no exception. Despite the island's allure for offshore banking
Puerto Rico serves as a hub for various financial institutions, including international banks that possess a Fedwire account. While there are numerous credit unions and local banks in Puerto Rico that also have Fedwire accounts, this article
In this post, I’ll look at an AI-generated article about setting up an international bank in Puerto Rico and explain where it is wrong. The bottom line is that most of the information on the internet is
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 when buying an operating bank
I’m often asked to compare a US banking license and an international banking license from the US territory of Puerto Rico. In my mind, these are not competing products because their target audiences are so different. But,
Puerto Rico's Governor Pedro Pierluisi and Financial Institutions Commissioner Natalia Zequeira have announced a proposal to amend the International Financial Center Regulatory Act (Act 273-2012) and the International Banking Center Regulatory Act (Act 52-1989). These changes aim
The Office of the Commissioner of Financial Institutions (OCIF) has taken significant action against international banks in Puerto Rico, leading to multiple closures due to non-compliance with regulatory standards. The most recent cease-and-desist order, marking the eighth
The government of Bermuda is working hard to increase its market share in the crypto, fintech, and international banking sectors. Now is an excellent time to apply for a new banking licensee in the country of Bermuda.
The most popular international banking jurisdictions for 2024 (looking forward) are the Caribbean islands of Bermuda and the British Virgin Islands. This page will give you some history, background, and demographic information on these islands. Bermuda Bermuda
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 your probability of being