A mix of business and pleasure awaits in the Commonwealth of Puerto Rico. Business traveler’s best kept secret for soothing beaches and warm climate, you will find this American retreat home to major companies and a large bilingual consumer market that makes Puerto Rico, literally “Rich Port”, a place for economic opportunity and prosperity. The Commonwealth represents lucrative opportunities and a mix of legal and business challenges for most business investors, in a disproportionate environment due to Puerto Rico’s reported low-per-capita income. As a result of Puerto Rico’s relationship with the Unites States, there are benefits for enterprises and individuals conducting business or generating income from the Island. Puerto Rico is by far the most technologically advanced jurisdiction in the Caribbean, with over 3 million (3,060,000) registered cellular phones on the Island (Puerto Rico’s Population is estimated at 3.7 million) with at least 1.9 million believed to be smartphones. (61%) At least 1,577,000 million have Internet Access (Over 50% of Puerto Rico’s Adult Population over the age of 12). Research suggested that at least 1.4 million have used social media, with 83% of the group indicating to have used Facebook, with 31% YouTube, 18.5% Twitter and 21% Google. El Nuevo Día, “Ya ni se lo que es poner un sello”, published on April 6, 2013, p. 36.
The envy of many stateside rivals, Puerto Rico has one of the most attractive Tax systems in the United States, a hybrid system which has allowed corporations and investors opportunities not offered by the mainland. A mix of US safety and stability, with lure of foreign-like taste, Puerto Rico offers Americans a great place to work, relax, and invest. Some argue with good reason Puerto Rico’s social and economic problems have made it inhospitable to conduct business, however, the Commonwealth disadvantages dwarf in comparison with the political and crime infested environment faced by many of the nation’s metropolitan cities. Puerto Rico, as a Caribbean metropolis, like any major city is constantly battered by crime, drug trafficking and corruption, fortunately Puerto Rico’s unique relationship with U.S. has given it the benefit of having the presence of U.S. National Guard, a Federal Court system and regional offices for most Federal Agencies that enforce all applicable Federal Laws and Regulation in the Island. Most importantly, it offers a bilingual culture, a local economy based on U.S. currency and banks are insured by the FDIC. As a result, Puerto Rico represents very little political risk for investors, as the Island’s long-established relationship with U.S. and democratic political environment, eliminates many uncertainties associated with investments in a foreign country.
We are Puerto Rico's Federal Trial Lawyers
Cobo Estrella is admitted to the United States Supreme Court, the First Circuit Court of Appeals and Puerto Rico's Federal District Court.
Email info@hcounsel.com or call today (787) 529-7140 for an appointment and/or legal consultation.
Cobo Estrella is admitted to the United States Supreme Court, the First Circuit Court of Appeals and Puerto Rico's Federal District Court.
Email info@hcounsel.com or call today (787) 529-7140 for an appointment and/or legal consultation.
Note: The information given is intended for informational purposes and does not constitute legal advice. If you have specific needs or legal questions, be sure to seek legal advice of an experienced Puerto Rico licensed attorney. Due to frequent changes in legislative and regulatory aspects, be sure to verify any information with the corresponding legal source.
