Puerto Rico Sample Letter regarding Organizational Minutes and Bylaws of Corporation
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How to fill out Sample Letter Regarding Organizational Minutes And Bylaws Of Corporation?
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FAQ
Act No. 164 of 2009(See), General Corporations Act, places Puerto Rico at the forefront of laws on legal entities. This statute is intended to streamline the management of these legal entities and simplify the procedures contemplated therein.
The initial cost to start an LLC in Puerto Rico is $250 to register your business with the Department of State. After that, you'll have a yearly recurring cost of $150 for your Annual Fee, which keeps your LLC current with the state.
A foreign corporation may be engaged in trade or business in Puerto Rico as a division or branch of that foreign corporation, or as a separate corporation or subsidiary.
Protection by the U.S.: As a U.S. Territory, Puerto Rico is protected by the U.S. military and government. Exempt from U.S. Taxes: Puerto Rico's Controlled Foreign Corporation (CFC) structure allows income generated from selling products to the United States exempt from U.S. Taxes.
Filing and forming an LLC in Puerto Rico requires a $250 filing fee. Under Puerto Rico law, an LLC uses a limited liability company agreement, or LLCA, to govern the internal affairs and administration of the LLC. This is valid regardless of what it is called, but the law says that they must be written.
Business name and registration Register your business name with the local government where your business is located. If you are a corporation, you will also need to register with the Department of State in Puerto Rico, or with the Department of Corporations and Trademarks in the U.S. Virgin Islands.