A growing number of investors are discovering the benefits Puerto Rico offers through the Tax Incentives Program promoted by Laws 20 and 22 of 2012, and Banco Popular of Puerto Rico continues to expand its services for them.
Recently, Popular opened the Investor Services Hub, an office located at Popular Center in San Juan where investors benefiting from these laws may obtain commercial and personal banking services from a team of experts.
Since 2013, Popular has served nearly 400 investors who have benefitted from these laws. For this purpose, the institution has dedicated resources to serve clients who obtain these decrees, and has given them access to experienced staff and extensive knowledge of these laws to guide and assist them through the process of settling in Puerto Rico, therefore guaranteeing an effective transition.
"Promoting this type of incentives is important for Popular and for Puerto Rico because they offer effective mechanisms to advance the economy. This is one of several innovative business ideas that are working and that stimulate economic growth on the island,” said Richard L. Carrion, CEO of Popular Inc.
To promote the island in Latin America, Popular, with support from the Puerto Rico Department of Economic Development and Commerce, has participated in events aimed at entrepreneurs. During 2015, they conducted several joint missions in Mexico, Venezuela, Costa Rica and Spain in which more than 300 entrepreneurs were impacted.
The bank also participated actively this year in two of the most important forums originating from Puerto Rico, the 2015 Investment Summit and the 2015 Investment Summit Latam Edition, as well as the Latin American Entrepreneurial Board in Puerto Rico (CEAL, by its acronym in Spanish).
Puerto Rico has become much more than a privileged spot in the Caribbean. The strong ties that bind the United States and the island, as well as the vast opportunities in the business sector provide investors the ability to expand or establish their business on the island with a plethora of benefits.