Doing Business in Puerto Rico is Now Easier Than Ever
Building Permits now processed five times quicker
SAN JUAN – As a result of governor Ricardo Rosselló’s permitting reform, signed into law on April 4, 2017, it is now easier than ever to do business in Puerto Rico.
“Puerto Rico is now, more than ever, an attractive destination to do business. Before we streamlined the permitting process, getting a building permit used to take on average 98 days. This figure now stands at just 20 days as of 2019”, said Anthony Maceira, secretary of Public Affairs for the government of Puerto Rico.
All permits requests are now being processed and delivered much quicker than before the reforms were enacted, benefiting small and medium sized businesses. In 2017, the World Bank’s Doing Business Report ranked Puerto Rico among the most difficult jurisdictions in which to obtain a building permit, greatly hindering economic development and the creation of new businesses.
“Puerto Rico is now open for business, and our permitting reform is an important pillar as we rebuild our island after Hurricanes Irma and María. My administration will continue to cut red tape as part of our efforts to turn Puerto Rico into an attractive destination in which to do business”, said Governor Ricardo Rosselló.
“We are committed to continuing to enact groundbreaking legislation so that Puerto Rico can be a modern jurisdiction in which world-class businesses can just not establish themselves but thrive”, concluded Puerto Rico’s governor.
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