Puerto Rico

corporate Bank Account

Opening a business bank account in Puerto Rico

The Commonwealth of Puerto Rico is an unincorporated US territory with self-governing status. It is located in the northeast Caribbean sea, east of the Dominican Republic and west of the Virgin Islands. Its west coast is located approximately 1536 kilometers southeast of the coast of Florida.

As a US territory, Puerto Rico enjoys a close political and economic relationship with the US, but also retains a certain level of autonomy with regards to its fiscal and economic policies. This has allowed the territory to emerge as a tax-neutral and highly attractive offshore destination for the establishment of offshore businesses and bank accounts.

We can help you open business and personal accounts with International Banks in Puerto Rico. Accounts are available for both individuals and companies.

We work with 6 different banks in Puerto Rico, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.

Bank Accounts in Puerto Rico

click the bank for more details

Bank Option 1

Account Details

Corporate
Not Required
N/A

Eligibility

Bank Option 2

Account Details

Corporate
Not Required
N/A

Eligibility

Bank Option 3

Account Details

Corporate
Not Required
USD 25,000

Eligibility

Bank Option 4

Account Details

Corporate
Not Required

Eligibility

Bank Option 5

Account Details

Corporate
Not Required
USD 10,000

Eligibility

Bank Option 6

Account Details

Corporate
Not Required
USD 150,000

Eligibility

Country Details

Puerto Rico
USD
San Juan
North America
3,916,632

Puerto Rico, officially known as the Commonwealth of Puerto Rico, is an archipelago in the Caribbean, covering an area of approximately 9,104 square kilometers. Positioned in the northeastern Caribbean, it is part of the Greater Antilles and is surrounded by the Atlantic Ocean to the north, the Caribbean Sea to the south, the Dominican Republic to the west, and the United States Virgin Islands to the east. San Juan serves as both the capital and the largest city of Puerto Rico. The official languages are Spanish and English.

With a storied history shaped by indigenous Taíno people, Spanish colonization, and subsequent American influence, Puerto Rico has evolved into a unique blend of Caribbean and American cultures. Christopher Columbus arrived on the island during his second voyage in 1493, marking the beginning of Puerto Rico's historical journey. Over the centuries, the island experienced Spanish rule, becoming a crucial outpost in the Spanish Empire. In 1898, Puerto Rico became a territory of the United States as part of the Treaty of Paris following the Spanish-American War.

Today, Puerto Rico operates under a Commonwealth status within the United States. The island has its own local government with a governor as the head of state and a bicameral legislature. While Puerto Ricans are U.S. citizens, the country maintains a degree of autonomy in local governance.

Active on the global stage, Puerto Rico is engaged in various international organizations and maintains diplomatic relations with nations worldwide. While not a sovereign state, it plays a vital role in regional affairs and participates in forums such as the United Nations, the Organization of American States (OAS), and the Caribbean Community (CARICOM).

The economy of Puerto Rico is diverse, encompassing sectors such as manufacturing, tourism, and services. Manufacturing plays a significant role, with pharmaceuticals, electronics, and textiles being notable industries.

Puerto Rico has also positioned itself as an attractive destination for investment and business. The favorable tax environment, along with strategic geographic positioning, has attracted foreign investment and led to the establishment of various international businesses.

In recent years, Puerto Rico has faced economic challenges, including a significant debt crisis and recovery from natural disasters such as Hurricane Maria in 2017. Despite these challenges, the island continues to rebuild and invest in its infrastructure, presenting opportunities for investors interested in sectors like renewable energy, real estate, and technology.

In addition to its economic initiatives, Puerto Rico has introduced programs to encourage investment and development. The island is actively exploring ways to enhance its economic resilience and sustainability.

In conclusion, Puerto Rico, with its complex history and cultural richness, stands as a vibrant territory in the Caribbean. From its economic diversification to its unique political status within the United States, Puerto Rico remains an intriguing destination for business, investment, and cultural exploration.

Services & Fees

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.

Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).

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