Your Complete Guide to Puerto Rice Company Registration
The archipelago of Puerto Rico in the West Indies is a Caribbean country that’s a self-governing US Commonwealth nation. It’s showing a strong ecosystem for economic growth as its Government rolls out business and investor-friendly policies. Savvy entrepreneurs can reap excellent returns by expanding or starting up their businesses in this country. Here’s a brief look at Puerto Rico company registration procedures and why professional help can make it a seamless experience.
Type of Business Entities
Puerto Rico offers several types of business entities that entrepreneurs can choose from:
- Sole Proprietorship
- Partnership
- Special Partnership
- Domestic Corporation
- Corporation of Individuals
- Limited Liability Company (LLC)
- Foreign Branch or Subsidiary
The most popular choices with entrepreneurs and investors are the LLCs and Corporations. Both of these entities are incorporated, and the creation of a separate legal entity limits shareholder liability. However, LLCs offer more flexibility in terms of their structure, being able to operate as a corporation and or partnership.
Company Registration Process
Registering or incorporating a company in Puerto Rico is a straightforward process that begins by appointing a registered agent. This is a legal necessity and requirement if you are not planning on permanently residing in the country. Puerto Rico company registration will undoubtedly go much more smoothly with the right professional help onboard.
Next, you will need to secure a company name, and you can search for suitable ones online. The Registry of Corporations and Entities is the Government’s free online portal facilitating such searches. Once you have the perfect name, you’ll need to draft and collate the company’s constitutional documents. These bylaws are essential as they establish your company’s activities, structure, shareholder profiles, etc.
If everything is in order, then it’s time to register or incorporate the company with the relevant local authorities. You can file for the certificate of incorporation online or via mail but do ensure you have the following:
- Company name and registered business address
- Details of registered agents and incorporators
- Directors’ and shareholders’ details
- Share authorisation and constitutional documents
- Date of incorporation and duration of company existence
Upon successful registration, you will need to register for taxes and open a bank account. Other necessities include an employer identification number (EIN), business licences, and a Use Permit from the relevant authorities and municipalities.
Modern Enterprise Solutions
For a smooth and stress-free business start-up experience, you’ll need to engage the right professional help. All our services and solutions are comprehensive, innovative, and customisable to suit individual requirements and budgets. Our team of experts ensures your entity is off to a great start with the best enterprise solution range available. Contact us today for the finest professional Puerto Rico Company Registration experience available.
