Personal and Corporate Bank Account in Puerto Rico

Now at the end of 2021 and the beginning of 2022, it is the right time to diversify bank accounts. It has never been easier to do this remotely and there are a lot of reputable banks nowadays where you can apply. One of them is located in Puerto Rico and there are so many reasons to open an account with them!

Why is it worth to open a bank account with a bank in Puerto Rico?

Customers have become ‘self-directed’ and less reliant upon traditional sources of financial advice. The access to volumes research information and tools has opened up a wide range of choices for consumers, outside the boundaries of traditional banking services. This bank aims to drive innovation so that they can support all of their customers’ needs and tailor services to their clientele. The bank appreciates safety above all and does not invest your money so at any point in time they are fully liquid with 100% of the clients’ funds sitting in the Federal Reserve in Texas, USA. The second reason for account opening would be no tax on dividends to non-US persons and foreign corporations or persons living in Puerto Rico. FATCA (Foreign Account Tax Compliance Act), FBAR (Report of Foreign Bank and Financial Accounts) and other US rules that apply to continental offshore banks do not apply in Puerto Rico.

What are the features of this bank?

The services of a bank in Puerto Rico currently include, but will not always be limited to:

• Accept deposits 

• Receive Loans 

• Issue Letters of Credit 

• Discount bills of exchange 

• Gold, Silver, Foreign Currency 

• Underwriting 

• Trade Finance 

• Fiduciary (Custodian) 

• Acquire or lease property 

• Clearinghouse 

• Management Services 

• Other Activities 

• Establish branches and service units 

• Financial Services 

• Hedge Fund 

• Any activity of financial nature

Are offshore companies accepted?

Yes, offshore companies are acceptable if clients can provide the necessary documentation for the due diligence process. FIndove will be happy to share a list of required documents for bank account opening.

If you wish to hear more about this bank, their fees and services, please contact us by clicking here.