Senate Bill No. 1164, also known as the “Puerto Rico Public Corporation Debt Enforcement and Recovery Act” (hereinafter, the “Act”), was recently signed by the Governor of Puerto Rico. The Act establishes a debt enforcement, recovery and restructuring system for eligible local public corporations that are experiencing financial insolvency. It creates two debt relief solutions;
Category Archives: FAQ
I plan to open a franchise location in Puerto Rico. What do I need to know about the Island’s real estate laws?
Puerto Rico’s real estate law is based on Spanish civil law tradition and differs from many other jurisdictions. Strict conditions need to be followed before a transaction can be recorded in the public registries. Deeds for both residential and commercial real estate must be prepared by a public notary. In Puerto Rico, only licensed attorneys
Puerto Rico has a mix of both common law and civil law business associations. The General Corporations Act of 2009, which also includes all local provisions related to Limited Liability Companies (Compañías de Responsabilidad Limitada) was modeled from both the Delaware General Corporations Act and the Delaware Limited Liability Company Act. Although essentially the same
Distribution Law 75 is unique to Puerto Rico; few jurisdictions have enacted similar laws. Law 75 is a patriarchal law that regulates the relationship between principals and on-Island distributors. It creates a complex framework for business and commercial relationships that is unique to Puerto Rico. Estrella’s strong consumer affairs practice provides assistance to international and
I own a U.S.-based retail business and wish to expand into Puerto Rico. Are laws in Puerto Rico similar to those in the U.S.?
Although Puerto Rico is a Commonwealth of the United States, many of its laws are unique to the Island. Puerto Rico’s employment laws offer many more protections to the employee than U.S. laws. Prospective employers need to understand the Island’s labor and employment laws before hiring workers in Puerto Rico. Estrella, LLC earned its reputation