An island known for unrivaled tax advantages, year-round warm weather, close proximity to the U.S., and promising business climate, Puerto Rico has recently attracted the business of major companies and entrepreneurs looking to grow operations and revenue, all while lowering overhead costs.
Puerto Rico: an island known for its unrivaled tax advantages, year-round warm weather, bilingual community, close proximity to the United States and promising business climate has recently attracted the business of major companies like Microsoft, Lufthansa, Bacardi, and Medtronic, looking to grow operations and revenue all while lowering overhead costs.
Unique Tax Acts, like Act 20, provide manufacturing businesses with a fixed 4% income tax rate and 100% tax exemption on distributions from earnings and profits, all while being able to mark their respective products with a “Made in the USA” label.
Puerto Rico has also attracted entrepreneurs, from all over the world, looking to manifest their ideas and take advantage of the island’s entrepreneurial spirit.
In 2013, Piloto 151 became Puerto Rico’s first co-working space and growth platform for small businesses. It is now known as ‘the clubhouse for the startup and tech community, buzzing with programmers, startup founders, and freelancers,” this article states. This entrepreneurial growth is aiding in a healthy, island-wide adoption of business initiatives, especially larger enterprises that are looking to expand their presence with promising talent.
Hato Rey’s “Golden Mile,” is known for hosting a number of international banks and the headquarters of large financial companies. With companies like Banco Popular, Banco Santander, and Oriental Bank, it’s no wonder it’s coined the ‘Mini Wall Street of the Caribbean.’ In the heart of the Golden Mile, you’ll find American International Plaza, a 16-story premier office building with workspaces ideal for Act 20/22 investors, businesses, and start-ups.
AIP prides itself on being its own little financial hub, hosting businesses such as Bancrédito International Bank, Advantage Insurance, Charles Schwab Co. and Santander Consumer. Labeled a U.S. Standard Class A building, AIP provides high-end office spaces for rent with flexible floor planning and concierge-style service and is equipped with 24-hour surveillance security systems, an on-site cafe, underground valet, and a dedicated parking lot for tenants.
Hato Rey, San Juan is also home to many charming boutiques and restaurants, the biggest indoor entertainment arena in Puerto Rico, Jose Miguel Agrelot Coliseum, Puerto Rico’s mega mall and the Urban Train system. During the day, the area is bustling with business people and entrepreneurs. Come sundown, Hato Rey turns into a hotspot for fine dining, events, and shopping.
In order to attract more city life after work hours, the government has transformed Hato Rey from a “work zone” into a place where commuters, residents, and tourists want to stay and eat, drink, shop and revel in entertainment. A recently inaugurated project, Arts Cinema at Popular Center, will be exhibiting foreign and independent films alongside a deli-cafe, while new residential apartments are being developed, offering beautiful skyline views.
To learn more about how you can become a part of this area’s promising future, click here: http://aippuertorico.com/
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