Puerto Rico

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Puerto Rico

Location: Northeastern Caribbean Sea

Capital: San Juan

Population (2017): 3,966,213

Status: Self-governing commonwealth in association with the United States

Currency: USD (United States dollar)

Official languages: Spanish, English

Deposit guarantee:  N/A

Did you know?

San Juan is the second oldest city in the Americas.

During the 18th and 19th centuries, Puerto Rican coffee was exported to Europe and was the finest in the world. Puerto Rican coffee was exclusively served at the Vatican.

The Bacardi rum factory is located in Puerto Rico and is the largest rum distillery in the entire world.

55 of the Fortune 100 companies and 178 of the Fortune 500 operate in Puerto Rico.

The customers of the banks are subject to FATCA, but there are no reporting requirements under the new Common Reporting Standard (CRS).

Puerto Rico is a territory of the United States located in the northeast Caribbean Sea.
Officially named the Commonwealth of Puerto Rico or Associated Free State of Puerto Rico, is an unincorporated territory of the United States, and part of the US banking system with a few differences in the tax laws.

Puerto Rico become a popular travel destination due to the tropical climate, nature, cuisine and tax exemptions.
The economy now based on services, including trade, tourism, finance, pharmaceuticals, manufacturing and technology, was dominated by agriculture until the mid-20th century. The trade is facilitated by the island’s inclusion the US Customs unions, and of course the most important trading partner is the United States.

In 2016, the country was ranked 57th out of 189 on the World Bank’s Ease of Doing Business survey.
The banks offer a wide range of banking products, cards, trading, financial and investing services, with 24/7 access, regardless of where you are located. From your Puerto Rico multi-currency bank account, you can also send and receive the same currencies, including US dollars.

Key features

Multiple currency accounts

Minimum deposit 500 USD/EUR, no minimum balance

Remote account opening

Online internet banking

MasterCard prepaid card in EUR, USD, GBP

Dedicated banking representatives