When establishing a business in Puerto Rico, the business owners have an array of choices for when selecting the appropriate business type for their operations. These include: Business Trusts, Cooperatives, Corporations, International Banking Entities, Insurance Companies, Joint Ventures, Limited Liability Company, Partnership, Public Private Partnerships, Real Estate Investment Trusts, Registered Investment Company, Sole Proprietorship. When selecting a business model please be aware that each has its own set of rules for qualification, and each has distinct implications from the perspective of tax, insurance, and liability. The facts and circumstances of a business owners operations are important in determining the appropriate type of business.
There are more rules and this post contains simplifications and is not comprehensive. Additionally, as always, a professional should be consulted and be presented with specific information.
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Disclaimer
The information on this website is general information and is for educational use and has not been verified for accuracy nor completeness. You, the reader, should further research your specific individual situation. In addition you should contact your accounting professional for professional advice derived from specific details from your structure and financial position.
There are more rules and this post contains simplifications and is not comprehensive. Additionally, as always, a professional should be consulted and be presented with specific information.
***
Disclaimer
The information on this website is general information and is for educational use and has not been verified for accuracy nor completeness. You, the reader, should further research your specific individual situation. In addition you should contact your accounting professional for professional advice derived from specific details from your structure and financial position.
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