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You will need to follow these five key steps when you incorporate a business in Puerto Rico: Reserve the name of the business you wish to incorporate in Puerto Rico. ... Appoint a legal representative. ... Establish the company bylaws. ... Register the company. ... Open a corporate bank account. Incorporate a Business in Puerto Rico: a 5-Step Guide - Biz Latin Hub bizlatinhub.com ? incorporate-business-puer... bizlatinhub.com ? incorporate-business-puer...
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.
If you're a sole proprietor, your business's legal name is your first and last name. Either way, if you want to do business under a name other than your legal business name, you're required by Puerto Rico law to file a DBA. How to Start a Business in Puerto Rico - Northwest Registered Agent northwestregisteredagent.com ? puerto-rico northwestregisteredagent.com ? puerto-rico
If you have filed to become a corporation or LLC, you've already registered your business name and you don't need a DBA. However, you will need to get a DBA if you plan on conducting business using a name that's different than the name filed with your LLC/corporation paperwork.
A Puerto Rico DBA (doing business as), or trade name, is like an alias for your business. Every business has a legal business name, and a DBA simply allows a business to use a different name to operate. Whether your business is a billion dollar corporation or a sole proprietorship, you can register a DBA.
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.
Entities in Puerto Rico are identified through a taxpayer ID known as the Employer Identification Number (EIN), which is issued by the US Internal Revenue Service (IRS). Unlike other jurisdictions, the local Treasury does not issue a separate identification number. Entity set up in Puerto Rico - DLA Piper Guide to Going Global DLA Piper Intelligence ? corporate DLA Piper Intelligence ? corporate
Ingly 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. A Puerto Rico LLC is a foreign eligible entity for U.S. federal income taxes. Limited Liability Companies |CPA Puerto Rico pf-cpa.com ? limited_liability_companies pf-cpa.com ? limited_liability_companies