On January 17, 2012 Puerto Rico's government enacted the Act No. 20 of 2012, also known as the "Export Services Act" to offer the necessary elements to create a World Class Service Center by providing tax credits and tax exemptions to business engaged in eligible activities in Puerto Rico.
"The Individuals Investors Tax Act of 2012" or Act No. 22 was created to promote individual investors to relocate to the Island by providing a total exemption from Puerto Rico income taxes on all passive income realized or accrued after such individuals become bona fide residents.
With the objective of making Puerto Rico an international banking and financial center the government enacted the Act No. 273, also known as "The International Financial Center Regulatory Act" which provides tax incentives for new banking and financial activity in Puerto Rico that is done for clients outside of Puerto Rico.