Puerto Rico Corporate Resolution (Authorize a Lease/Easement) is a legal document used by corporations in Puerto Rico to grant authorization for leasing or easement agreements. This resolution is typically required when a corporation needs to enter into a lease or easement agreement in order to utilize a property or obtain certain rights for their operations. The Puerto Rico Corporate Resolution authorizes the corporation to lease or grant an easement on its behalf, specifying the terms and conditions of the agreement. This document is essential to ensure that the corporation acts in a legally binding manner and protects its rights and interests during the leasing or easement process. There are various types of Puerto Rico Corporate Resolution (Authorize a Lease/Easement) depending on the specific purpose or circumstances involved. Some common types include: 1. Lease Authorization Resolution: This type of resolution is used when a corporation intends to lease a property for commercial, industrial, or office purposes. It outlines the details of the lease agreement, such as the property description, lease term, rental amount, and any additional terms and conditions. 2. Easement Authorization Resolution: This resolution is utilized when a corporation needs to grant an easement to another party for various purposes, such as accessing utility lines, transportation, or construction-related activities. It defines the scope of the easement, duration, and any specific conditions or restrictions associated with it. 3. Subleasing Authorization Resolution: In situations where a corporation holds a property under lease and intends to sublease it to another party, this type of resolution is required. It grants the corporation permission to sublease the property, outlines the terms of the sublease agreement, and ensures legal compliance. 4. Amendment to Lease/Easement Authorization Resolution: If there is a need to modify or amend an existing lease or easement agreement, this resolution is utilized. It allows the corporation to make changes to the original agreement, such as extending the lease term, altering rental payments, or adjusting the easement scope. Puerto Rico Corporate Resolution (Authorize a Lease/Easement) is crucial for a corporation to establish a legal framework for entering into lease or easement agreements. It safeguards the corporation's interests, ensures compliance with local laws, and provides clarity to all parties involved in the agreement.
Puerto Rico Corporate Resolution (Authorize a Lease/Easement)
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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.
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Adverse possession: Articles 786 and 788 reduced the period of time necessary to acquire personal and real property through adverse possession. The acquisition of personal property through adverse possession now requires at least 2 years of possession in good faith or at least 4 years of possession without good faith.
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.
Ing to the PR Department of Economic Development and Commerce, anyone doing business in Puerto Rico?including sole proprietors?must obtain a Merchant's Registry Certificate from the PR Treasury Department. There are other licenses and permits many Puerto Rico businesses also need.
Application for Registration CostDescriptionDownload$150.00 o 5.00Foreign Corporation - Certificated of Authorization to do businessDownload$150.00Close CorporationDownload$150.00Professional CorporationDownload$110.00Limited Liability SocietyDownload2 more rows
Puerto Rico offers a range of tax benefits that make it attractive to investors, including a flat 4% tax rate on income, 100% tax exemptions on distributions, and an exemption from personal property taxes of 90% for certain types of businesses.
