The ISO code of Puerto Rico is PR according to the ISO 3166 standard. The local name of the country is the same as its English name. Puerto Rico capital city is San Juan. People in Puerto Rico speak the Spanish, and English languages. On 10 December 1898, Puerto Rico emerged as a sovereign political entity. In the year 12/10/1898, Puerto Rico emerged as a sovereign political entity.
Puerto Rico is located in the UTC -04:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Puerto Rico is .pr. The International dialing codes for Puerto Rico are +1787, +1939. People in Puerto Rico drive on the right side of the road. Total land area of Puerto Rico is 12,158 km² (approx. 4,694 mi²). Puerto Rico is not a landlocked country. It means that is is bordered by at least one major body of water.
Puerto Rico is located in North America. Puerto Rico is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Puerto Rico faces various issues, including erosion, occasional drought causing water shortages.
Doing business in Puerto Rico
We offer various corporate services in Puerto Rico jurisdiction. These services can serve both, people coming from Puerto Rico and foreigners. If you plan on doing business in Puerto Rico you might be interested in contacting us.
To find out about starting your business in Puerto Rico click on company formation in Puerto Rico.
To find out how to open a bank account in Puerto Rico and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Puerto Rico.
Choose preferred service below or continue reading to find out more about Puerto Rico.
Demographics of Puerto Rico
The total population of Puerto Rico is 3,659,007 people. In Puerto Rico, the population density is 414 people per square kilometer (1,077 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Puerto Rico is 0. Puerto Rico has approximately 95324 foreign immigrants. The median age is approximately 38.7 years. In Puerto Rico, 51.41 in every 100 people use internet.
The majority religion of Puerto Rico is Christianity, Puerto Rico is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Puerto Rico.
Culture of Puerto Rico
People in Puerto Rico speak the Spanish, and English languages. According to data on inbound tourists in Puerto Rico, 3,200,000 tourists arrive in the country each year. The first McDonalds in Puerto Rico was opened on 10 November 1967, and it was located in San Juan. One of the most popular national dishes of Puerto Rico is arroz con gandules. To read more click on culture of Puerto Rico.
Geography of Puerto Rico
Puerto Rico is considered to be a large nation because of its total area. Its total land area is 12,158 km² (approx. 4,694 mi²). Puerto Rico is located in North America. Its capital city is San Juan. Puerto Rico has no land borders.
The highest point of Puerto Rico is Cerro de Punta, with its official height being 1338 m (4,390 ft). Including land mass and EEZ, the total area of Puerto Rico is approximately 12,158 km² (~4,694 mi²). The most notable natural resources found in Puerto Rico are copper, nickel.To read more click on geography of Puerto Rico.
Economy of Puerto Rico
The currency of the country is United States dollar. The symbol used for this currency is $, and it is abbreviated as USD. 10.3% of population in the country are unemployed. The total number of unemployed people in Puerto Rico is 376,878. Each year, Puerto Rico exports around $69.75 billion and imports roughly $47.32 billion. The Gini Index of the country is 53.7. Puerto Rico is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are pharmaceuticals, electronics, apparel, food products, tourism.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Puerto Rico is $127 billion. Each year, consumers spend around $5,847 million. The ratio of consumer spending to GDP in Puerto Rico is 0%, and the ratio of consumer spending to the world consumer market is 0.0169. The corporate tax in Puerto Rico is set at 20%. Personal income tax ranges from 16% to 33.34%, depending on your specific situation and income level. VAT in Puerto Rico is 11.5%, and it is known as Sales & Use Tax. To read more click on economy of Puerto Rico.
Infrastructure of Puerto Rico
In Puerto Rico, 90.9% of the population has access to electricity. There are 469 internet hosts in Puerto Rico. Puerto Rico has 29 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Puerto Rico is 42. To read more click on infrastructure of Puerto Rico.
Politics of Puerto Rico
Puerto Rico, is a unincorporated territory of the united states. With regard to political and civil freedoms, Puerto Rico is 1. Citizens in Puerto Rico experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Donald Trump.
According to the World Bank Group, the government effectiveness index of Puerto Rico is 0.38. This indicates that the government of Puerto Rico is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Puerto Rico before considering any business maneuvers.In Puerto Rico, the legislative power is vested in a Legislative Assembly. The strength of legal rights index for Puerto Rico is 10. Overall, it is considered to be rather strong - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible. To read more click on politics of Puerto Rico.
Environment of Puerto Rico
The number of road motor vehicles per 1000 inhabitants in Puerto Rico is 42. To read more click on environment of Puerto Rico.
Company formation in Puerto Rico
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Puerto Rico.
When establishing a company in Puerto Rico, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Puerto Rico that will affect the establishment and growth of one's business. Contact us or click on company formation in Puerto Rico to read additional information when setting up a business.
Bank account opening in Puerto Rico
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Puerto Rico. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Puerto Rico, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Puerto Rico or contact us.