NEWS

Perspectivas de la Junta

Título V: herramienta poderosa

Puerto Rico pasa por unos tiempos difíciles. La situación económica y la necesidad de desarrollar soluciones sostenibles representan un reto casi imposible: como construir un avión mientras lo volamos. Pero en el Título V de la ley PROMESA tenemos una herramienta que tendrá un enorme impacto positivo en el futuro económico y de empleos de Puerto Rico.


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Could Puerto Rico Be the Next Hot Tax Haven?

Some 65,000 Puerto Ricans left their bankrupt U.S. island commonwealth last year. A group of private bankers are moving the other way. They’re increasingly opening offshore banks known as International Financial Entities, which were created by a Puerto Rican law in 2012. There are 44 IFEs now, with 18 opening in the past year, according to data compiled by the U.S. territory’s financial regulator. “Just in the last six months, we’ve probably closed seven deals for international banks,” says Ryan Christiansen, president of Christiansen Commercial Real Estate, a brokerage based in Puerto Rico that leases office space.


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Puerto Rico Investment Summit otorga becas a estudiantes sobresalientes

El Puerto Rico Investment Summit (PRIS) anunció la otorgación de siete becas a estudiantes sobresalientes en diversos campos de las ciencias, ingeniería, finanzas y el desarrollo de aplicaciones para teléfonos móviles con el fin de que puedan asistir a las conferencias de este año.


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Puerto Rico: The Tale of Two Economies

Puerto Rico (PR) has received a lot of bad press recently because of its critical fiscal situation. Yes, the Commonwealth of PR is $72 billion in debt, and past governments have been mismanaging the Island’s public funds for over 30 years. The U.S. Congress is partly to blame for this debacle. However, that’s now water under the bridge, the public sector is currently being restructured by U.S. House of Representatives; project #5278, PROMESA. I’d like to talk about the other - less publicized - side of the coin. There is obviously a second economy at play here; the private economy.


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AS PUERTO RICO’S ECONOMY STRUGGLES, BLOOMBERG BNA PORTFOLIO AUTHOR JEANELLE ALEMAR-ESCABÍ DISCUSSES THE TAX SYSTEM’S ROLE

Puerto Rico is in a dire financial situation, as the island is a record $120 billion[1] in debt. For some perspective, that is more debt than almost half the states have combined on the state-level, according to U.S Census Bureau data. Climbing out of this deficit may prove especially difficult, as President Trump currently opposes any form of federal bailout for the territory.


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Puerto Rico governor further relaxes tax incentive Acts 20, 22

SAN JUAN – Gov. Ricardo Rosselló signed Tuesday a series of amendments to Acts 20 and 22 of 2012 to reduce the “bureaucratic requirements” for those who want to benefit from their potential. The tax incentive laws were designed to foster the export of services and attract foreign investors to Puerto Rico, respectively.


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Regional airports for sale

The government of Puerto Rico is selling the regional airports of Fajardo, Patillas and Santa Isabel, which are now closed.


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5th edition of P.R. Investment Summit slated for October

5th edition of P.R. Investment Summit slated for October

The Puerto Rico Investment Summit, the Caribbean's foremost investor's conference, will celebrate its 5th edition October 9-10, at the Puerto Rico Convention Center, organizers announced.


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Consider all Factors to Take Advantage of Acts 20/22’s Amazing Incentives

As one of the first recipients to move to Puerto Rico in 2013 and the founder of The 20/22 Act Society, I have witnessed firsthand the growth of the amazing incentives under Acts 20 & 22 of 2012. We are constantly telling potential recipients that they need to consider multiple factors in making their move, such as lifestyle, culture, cost of living, and not only the incentives under the program. As part of this role, we always try to emphasize that properly complying with the sourcing rules lands much stronger on the Internal Revenue Service (IRS) side than on the Treasury Department (Hacienda) side, although I think it is a valid point to say you now serve two masters rather than having escaped one.


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Los incentivos son clave en el impulso económico

Los incentivos son clave en el impulso económico

La efectividad demostrada por las leyes 20 y 22 de 2012, diseñadas para atraer inversiones de negocios, refleja que Puerto Rico ha encontrado un camino idóneo para seguir creando empleos de calidad en el área novedosa de servicios de exportación.


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Nuevo motor para la economía

Empresarios del mundo se instalan en Puerto Rico para hacer crecer sus negocios.


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Biogen Launches Operations in Guayama

SAN JUAN — To the tune of more than $92 million, biotechnology company Biogen will set up shop at the former facilities of Eli-Lilly in Guayama, seeking to create 350 jobs within the next five years, La Fortaleza announced Monday.


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Governor announces jobs created by Lockheed Martin

AGUADILLA — Gov. Alejandro García Padilla participated Tuesday of the inauguration of security, defense and aerospace company Lockheed Martin’s new facilities.


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Lufthansa Technik Puerto Rico Opens 3rd Bay

SAN JUAN – Aguadilla-based aircraft maintenance, repair and overhaul company Lufthansa Technik Puerto Rico has started operating its third bay at the beginning of July. The new bay is a heavy maintenance line performing C-Checks and cabin modifications similar to the existing two operating bays in the hangar. It will be the second line for Spirit Airlines.


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Infotech to Create 250 New Jobs in Isabela

SAN JUAN — With an $11 million investment, aerospace company Infotech announced Monday the expansion of its local engineering service center, creating 250 new jobs during the next couple of years.


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Honeywell Inaugurates Research & Tech Center in Moca

SAN JUAN — With a more than $40 million investment, Honeywell inaugurated Tuesday its new Research & Technology Center in Moca, as Puerto Rico continues to bet on the development of an aerospace industry cluster centered on the island’s northwest region.


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Expert Panel Lauds Benefits of Combining Puerto Rico’s Tax Incentives Laws

SAN JUAN- With Acts 20 & 22 Spearheading Efforts, Act 185 Offers Private Equity Incentives


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The Act 20/22 Study

Tax incentives created by Acts 20 and 22 of 2012 to promote exports and attract investors should remain in place because they can boost Puerto Rico’s economic development, with several thousand new jobs created thus far and millions of dollars invested in local real estate, but the public and private sectors still need to capture their spillover effects, a study commissioned by the Economic Development & Commerce Department (DDEC by its Spanish acronym) has found.


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Puerto Rico Investment Summit Reveals Top Speaker Line-up

The Puerto Rico Investment Summit, the Caribbean's premier investor's conference revealed some exciting new additions to its two-day event, which include John Paulson, Michael Tennenbaum, Rudolph Giuliani, Nicholas Prouty and Jim Millstein.


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Celebran en febrero el Puerto Rico Investment Summit

El evento diseñado para la promoción de inversiones y de actividad económica en Puerto Rico, el 2016 Puerto Rico Investment Summit será el de mayor participación de empresarios en la breve historia de este programa privado, confió Brenda González, presidenta de Adworks, organizadora del encuentro.


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Puerto Rico Investment Summit set for Feb. 2016

After two successful events aimed at the U.S. market, and a first Latin American edition this year, organizers for the Puerto Rico Investment Summit announced Thursday that the 2016 edition will be held Feb. 11-12, at the Convention Center in San Juan.


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Island seals its pitch at Puerto Rico Investment Summit

The latest edition of the Puerto Rico Investment Summit, which ended Tuesday at the Condado Vanderbilt Hotel in San Juan, focused on attracting business players from Spain and Latin America to the island as an investment destination and entry point to the U.S. mainland market.


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NEW PUERTO RICO CAMPAIGN TO ATTRACT LATIN AMERICAN AND SPANISH INVESTMENT

Puerto Rico this coming week will try to sell itself to Latin American and Spanish investors as one of the hemisphere's best locations in which to invest, an effort to attract foreign capital to help it pull out of the recession in which it has been mired for almost a decade.


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Puerto Rico Investment Summit seeks to open doors to US market

The Puerto Rico Investment Summit - LATAM Edition on May 18 and 19 aims to bring entrepreneurs and investors closer to the options the island offers as a gateway to the U.S., and as an investment destination.


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