Offshore Banking Licensing in Puerto Rico
FAS CPA & Consultants

Service Details

Puerto Rico is a great jurisdiction for applying to an offshore banking license. Your bank will be part U.S. banking system and your clients will be free from CRS reporting.

License For International Financial Entities (IFE) in Puerto Rico (PR)

The PR Office of the Commissioner of Financial Institutions (OCFI) is the entity responsible for licensing IFEs to conduct specified financial transactions.
A licensed IFE entity is authorized to:
Engage in traditional banking & financial transactions with non-residents of PR.
Request a Tax Grant from the PR Department of Economic Development of Commerce.

IFE Licensing Requirements

1) Articles of Incorporation and by-laws. 2) Rent an office space. 3) Hire at least 4 employees. 4) Authorized capital $5,000,000. Start at capital at least $1,500,000. 5) $300,000 financial guarantees acceptable to OCFI. 6) Application to the OCFI for a permit to organize an IFE. 7) $5,000 non-refundable fee and same annual fee if approved. 8) Personal statements for 10% or more shareholders. 9) Comply with US Bank Secrecy Act, US Patriot Act and Office of Foreign Asset Control (OFAC). 10) After these requirements are completed, the Tax Grant will be authorized for 3 consecutive 15-year period for a total of 45 years.

Process of Approval:

The application to establish an IFE is divided in two stages and takes up to 180 days to be approved: 1st stage encompasses the organization of the IFE. 2nd stage begins after the permit to organize the IFE is issued.
Subscription Plans



Filing Fee



Filing Fee



Filing Fee

Financing Options For Business

For investors in the United States and Latin America, consider the following financing options for business expansion:

• In the USA: Not less than $1 million, and in special cases, not less than $500,000.
• In Latin America: Not less than $10 million, except for the non-banking financial sector, which can be $2 million.

To assess the most suitable loan alternatives for you, we need the following information:

• A brief introduction of your company, including the names of the main shareholders and their percentage of ownership.
• Financial statements from the past three years.
• Updated financial statements as of the most recent month of the current year.
• The amount of the operation, the intended use of funds, and the guarantees you are willing to provide.

To evaluate alternatives, please send us:

  • Brief presentation of the company, including names of the main shareholders and % shareholding.
  • Financial statements for 2019-2020 and 2021.
  • Financial Statements as of March 31, 2022.
  • Amount of the operation, use of funds and guarantees offered.

We Are Just A Message Away From You. Get Your Consultation.

Accounting Firm providing Accounting & Bookkeeping, Tax Planning and Offshore Strategies to grow your business and protect your assets.

Clients Feedback

Our Clients Reviews

Fulton is a wonderful CPA who fully understands tax law and provides honest advice for his clients.

    Al Kusner
    Al Kusner


    Thanks to FAS & CPA Consultants and Fulton Abraham Sanchez, CPA, I was able to resolve a debt of $479,677.71 that I had with the IRS.

      Gala Cedeño
      Gala Cedeño


      My experience with FAS CPA & Consultants has been incredible, their professionalism is impeccable. I highly recommend them.

        Carlos Lange
        Carlos Lange


        I highly recommend FAS CPA & Consultants, they are responsible, efficient and very dedicated.                                        

          David Barcelo
          David Barcelo


          Our Blog

          Latest Articles

          error: Content is protected !!