Tentmaker Reports

Puerto Rico Report

Entrepreneurial Missions Index

36.28

General Information

Population

3,978,702 (119th most populous country in the world)

RELIGIONS
Roman Catholic85%
Protestant and Other15%
LANGUAGES
Spanish
English

Industries

Pharmaceuticals, electronics, apparel, food products, tourism

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Puerto Rico, visit https://www.cia.gov/library/publications/the-world-factbook/geos/pr.html.

Business Information

The World Bank ranks Puerto Rico as 42 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Puerto Rico.

In order to start a business in Puerto Rico, one must follow these procedures:

  1. Check the uniqueness of the company name
  2. Register the company at the Puerto Rico Department of State and obtain a business certificate
  3. Apply for an employer identification number (EIN) with the Internal Revenue Service of the United States
  4. Apply for a municipal business license (patente municipal)
  5. Request unemployment and disability account numbers from the PR Department of Labor and Human Resources
  6. Subscribe to a workmen’s insurance policy
  7. File with the Registry of Merchants and Business, the Commercial Development Administration

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Puerto Rico, visit http://www.doingbusiness.org/.

 

To learn more...

 

Puerto Rico Economic Freedom

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.
 

Puerto Rico Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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