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| INTRODUCTION |
Puerto Rico is an island in the West Indies and is a territory of the United States. The capital and largest city in Puerto Rico is San Juan. The population is approximately 3,960,000.
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| LAW AND TAXATION |
Puerto Rico is a self-governing entity in association with the United States. The major differences between Puerto Rico and the 50 states are its local taxation system and exemption from Internal Revenue Code. In addition, the State Department is not yet computerized.
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| CORPORATE REQUIREMENTS SUMMARY |
- The minimum number of directors is one
- Director(s) and officers do not need to be residents of Puerto Rico. However, a Registered Agent located in Puerto Rico such as Corporation Service Company, must be named
- Annual Reprots must be filed with the Secretary of State Department by April 15th
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| **CSC does not provide legal or financial advice** |
