As of August 26, 2025, Puerto Rico continues to position itself as a premier hub for international financial services, thanks in large part to Act 273 (also known as the International Financial Center Regulatory Act). This legislation allows for the establishment of International Financial Entities (IFEs), which can engage in a wide array of banking...
International Financial Entities (IFEs) licensed in Puerto Rico are subject to strict regulatory oversight. As part of the application and ongoing compliance process, every director, officer, shareholder, manager, investor, or individual named in the business plan must complete a Statement of Personal History (Personal History Form). This document is essential for demonstrating integrity, transparency, and...
Purchasing an international bank in Puerto Rico, often structured as an International Financial Entity (IFE), is a complex process that involves negotiation, regulatory scrutiny, and compliance with local financial laws. Puerto Rico’s banking sector, regulated by the Office of the Commissioner of Financial Institutions (OCIF), offers attractive opportunities for investors due to its tax incentives...
The world of cross-border payments is evolving at a pace not seen in decades. For years, the SWIFT network has been the backbone of international banking, facilitating trillions of dollars in global transactions. However, its legacy systems have often been slow, costly, and out of reach for smaller banks. Recent developments show that SWIFT is...
The global financial landscape is undergoing a profound transformation as digital assets reshape the way money moves across borders. According to a recent article in The Nation Thailand, the future of banking lies in innovation, adaptation, and the integration of blockchain and cryptocurrency into traditional financial systems. Financial institutions worldwide are now under pressure to...
