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PuertoRico2015

S P E C I A L R E P O R T P U E R TO R I C O GA T E WA Y T O T H E U S & L AT IN A M E R I CA Due to its many advantages, including direct access to the US and other international markets, Puerto Rico is an ideal gateway for insurers and reinsurers wishing to enter the Latin American insurance and financial market. Since 2005, the International Insurers and Reinsurers Division of the Office of the Commissioner of Insurance of Puerto Rico (OCI) has sought to promote Puerto Rico as an important member of the international insurance arena. The Government of Puerto Rico adopted this initiative as part of its economic agenda for the 21st century. The OCI supervises the International Insurers and Reinsurers Division, while the Department of Economic Development and Commerce oversees the promotion of the office’s work and the extension of tax decrees, outlined below. WHY PUERTO RICO? Puerto Rico has a privileged prime geographical location, that offers easy access to the US and Latin America. The advantages of a fully bilingual (Spanish and English) corporate culture have helped the Government of Puerto Rico attract and retain high technology, capital-intensive manufacturing industries. Puerto Rico has dedicated billions of dollars to its local infrastructure, which features stateof the-art communication and technological systems, as well as modern transportation and shipping facilities. Puerto Rico’s service sector has become one of its fastest growing industries. Under the US flag, Puerto Rico’s free market economy is subject to both federal and state regulations designed to protect free market competition specifically within, but not limited to, the insurance and banking industries. Along with the use of US currency and general allowance of free flow of funds abroad, this regulatory structure guarantees sound credit and investment practices. Legal protection - 1 -


PuertoRico2015
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