Webinar: Puerto Rico Labor Laws

Discover Puerto Rico's Unique Labor Landscape

Webinar: Navigating Puerto Rico Labor Laws

Join us for an in-depth exploration of Puerto Rico’s labor laws and how they differ from those in the mainland US. This webinar is essential for business owners and investors looking to understand the legal nuances of operating in Puerto Rico.

Registration Calendar

About the Webinar

Did you realize that the Puerto Rico labor laws are different in many key ways than in the mainland US? They are substantially more labor-friendly than you might expect. If you own or are starting a Puerto Rico business and have employees in PR, it’s very important to understand these key differences.

Join us for an overview of PR labor laws co-hosted with an experienced Puerto Rico labor attorney. Check our webinar calendar for updated dates and registration links; registration is free.

Some of the key points covered:

Puerto Rico labor laws are based on “right to work” rather than the “at will” employment in the mainland.
Employment can begin under a probationary period.
Should you need to terminate an employee for cause, it’s important to show a history backing this up.
Minimum paid vacations, sick leave, and government holidays are dictated by law.
A small annual Christmas bonus is mandatory for most employees.

How do I register for the webinar?

To register, click the desired date/time on our webinar calendar, and fill out the registration form. You’ll receive a confirmation email with further details once your registration is complete.

What is the cost to attend the webinar?

The webinar is free of charge for all attendees. We encourage anyone interested in learning more about Puerto Rico’s labor laws to join us.

What are the technical requirements to attend the webinar?

You’ll need a stable internet connection and a device capable of streaming video, such as a computer, tablet, or smartphone. We will be using Zoom, so you will need to join from a browser or a local Zoom client installation.

Will there be a Q&A session during the webinar?

Yes, there will be a live Q&A session at the end of the webinar. This is a great opportunity to ask any specific questions you may have about the topics covered. There will also be an interactive Q&A window during the presentation.

Can I access the webinar recording later?

All registered participants will receive a copy of the presentation materials, allowing you to review the content at your convenience. They will also receive contact details for the experts hosting the session, in case additional consultation is needed.

Check our webinar calendar for upcoming dates

Puerto Rico’s Economy: Land of Opportunity

Puerto Ricos Economy

Most of what has been covered in the news lately is Puerto Rico’s debt, and there is no doubt that this is a serious issue. Currently, the new PROMESA board is at work to determine the plan to restructure Puerto Rico’s debt, and plan what changes may go with it to ensure ongoing accountability.

What is not included in these news reports is the stunning opportunities for new business growth that the island and all its many advantages make possible. In addition to incredible, world-class tax incentives, Puerto Rico is also attractive in other ways. These opportunities are very likely to continue since they are part of the means for improving the economy long-term. (There have been no signs that the recent passage of the PROMESA bill by the US Congress will negatively impact the ability or intention of the Puerto Rican government to continue to incentivize economic growth and recovery through the excellent legal tax advantages that it currently makes available to its legal residents.)

Beneficial for Businesses

Puerto Rico is a great place to do business for many industries. A number of fortune 100 companies have established operations here, including 10 of the world’s top 20 pharma and biotech companies; 2 Fortune 1000 companies are even headquartered in Puerto Rico. And out of 174 active Foreign Trade Zones, Puerto Rico ranks 13th in imports and 11th in exports (report reference from 2012).

Additionally:

Puerto Rico’s tax incentives are world class!
All needed infrastructure is in place.
The tax incentives are creating an entrepreneurial environment, where it is easy to meet potential business partners.
For many people, Puerto Rico’s weather, beaches, and beautiful places to live make it a very desirable place to relocate, so some employees and business partners may be easy to convince.
PR has a bilingual population.
One of the best engineering schools in the country is located in Mayaguez, and US companies heavily recruit all types of Puerto Rico STEM graduates.
Puerto Rico is very accessible by air travel, with many non-stop flights daily from New York and other major US cities.

Puerto Rico Has the Most Developed Economy in Latin America

Puerto Rico’s annual gross domestic product is about $100 billion. The economy is already strong in the following sectors:

Manufacturing
Pharmaceuticals
Electronics
Processed foods
Clothing
Textiles
Service
Tourism

Technology is a growing industry, and some predict it may be the next big wave.

Future Plans for Economic Development

Puerto Rico is currently still losing some of its most highly educated residents to higher paying jobs in other locations. Many of the plans to improve the economy involve creating additional and more substantial jobs locally, to retain top talent on the island. Attracting more business to Puerto Rico naturally also impacts the economy indirectly by creating more services jobs to support these businesses and new residents relocating to Puerto Rico.

The PR government’s plans include encouraging growth in Manufacturing, Services, and Tourism businesses. Act 73 (the Economic Development Incentives Act) and Act 20 (the Export Services Act), have been put in place to attract new businesses of these types to the island, to create new jobs for Puerto Rican residents, and to boost the local economy. The Tourism Development Act has been put in place to offer tax credits and exemptions for businesses constructing and operating tourism endeavors.

Puerto Rico is fortunate to be located in an advantageous geographic position along the Mona Passage, between the Atlantic Ocean and the Panama Canal. Puerto Rico’s Port of the Americas is designed as a modern, containerized import/export and transshipment cargo facility. Located in Ponce, Puerto Rico’s second largest city, on the southern coast, it is also very near to Mercedita International Airport (PSE).

With Act 214, Puerto Rico embraces innovation via the Science, Technology, and Research Trust. The Trust provides access to grants for projects involving technology commercialization, research, and the creation of science and technology jobs.

Plans are also underway to transform the former Roosevelt Roads Navy base into a diverse community including tourist attractions, residential properties, schools, and hospitals.

Read more about these and several other plans in progress to stimulate Puerto Rico’s economy in the official government report. Feel free to contact us with any questions.

References:

Puerto Rico government report on current economic indicators

We Can Help

Take advantage of Puerto Rico’s incredible tax breaks! We can help you determine which tax incentives are right for you, help you plan your residency and relocation strategy, and simplify the entire process for you.

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