Puerto Rico What To Do When Starting a New Business
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FAQ
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.
Doing business in Puerto Rico brings with it a range of tax benefits that makes it enticing to investors, including a 4% income tax rate, a 100% tax exemption on distributions from earnings and profits, and a 90% exemption from personal property taxes for some types of businesses.
Under General Corporation Law, a foreign corporation or a limited liability company must register with the State Department of Puerto Rico before conducting business locally.
Does a Puerto Rico corporation need a business license? Most businesses will need a license. If you plan to engage in any business in a Puerto Rico municipality, you'll have to get a Patente Municipal licensea municipal tax license.
Limited liability companies (LLCs) are generally taxed as corporations. Accordingly if an LLC is organized under the laws of Puerto Rico it is taxed as a domestic corporation and if organized under the laws of any other country, including the United States, it is taxed as a foreign corporation.
Limited liability companies (LLCs) are becoming the preferred method of doing business in Puerto Rico. LLCs may be organized by any natural or legal person by filing articles of organization (also referred to as the certificate of formation) in the Puerto Rico State Department.
Businesses receive a corporate tax rate of 4% on export services, and no taxes are owed on earnings and profits distributions. With these unprecedented incentives, Puerto Rico has set the stage for attracting world-class entrepreneurial talent.
Business opportunities in Puerto Rico ready for investmentManufacturing. Puerto Rico's highly-developed industrial base means it is an ideal location for establishing manufacturing operations.Import/Export.Tourism.Real Estate.
Ready to Start an LLC in Puerto Rico?Name Your LLC.Submit LLC Certificate of Formation.Write an LLC Operating Agreement.Get an EIN.Open a Bank Account.Fund the LLC.File reports + taxes.