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Why Puerto Rico
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How We Help
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Key Sectors
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About InvestPR
About InvestPR
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News & Events
News & Events
Puerto Rico is the only U.S. jurisdiction that offers international financial and banking entities (IFEs and IBEs) the legal, regulatory, and intellectual property protections of the United States. With an IFE license, an entity can enjoy the following tax benefits:
Puerto Rico supports finance and insurance businesses with sophisticated banking tools, mobile financial applications, blockchain, and payment processing technology, ingredients that are key for them to scale operations and expand into neighboring markets.
The Puerto Rico Tax Incentives Code (Act 60) offers competitive benefits for a variety of activities in the finance and insurance industries. Incentives are granted for a 15-year term and can be renewed for an additional 15-year term.
Qualifying entities include small and medium businesses, and public-private partnerships.
In 2020, there were 823 licensed financial institutions with $164 billion in total assets. The two largest sectors of the industry are made up of 6 commercial banks and 27 IBEs. Commercial banks managed $75 billion in assets in 2020, up $10.3 billion from 2019. IBEs managed $59.3 billion in assets in 2020, up $2.6 billion from 2019.
Puerto Rico maximizes local legislation to enable global financial and insurance activities. Therefore, companies benefit from unique flexibility and federal regulatory protection.
Under this combined jurisdiction, IFEs can:
The insurance market features 47 domestic insurers, 33 international insurers, 271 foreign insurers, and 481 protected cells. These entities offer:
Puerto Rico offers international insurers the benefits of an international insurance hub, the advantages of U.S. accreditation and protection, and attractive local tax incentives.
Professional networks, industry associations, and governmental offices support this well-established sector.
Asociacion de Supervisores de Seguros de Latinoamerica (ASSAL)
Association for Financial Professionals of Puerto Rico (AFPPR)
Comision de Desarrollo Cooperativo (CDCOOP)
Financial Analysts Society of Puerto Rico (FASPR)
International Insurance Center (IIC)
National Association of Insurance Commissioners (NAIC)
Office of the Commissioner of Financial Institutions (OCIF)
Office of the Commissioner of Insurance (OCI)
Puerto Rico Chapter of Healthcare Financial Management Association (PRHFMA)
Collaborate with entrepreneurs and innovators and transform your business in Puerto Rico.