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Open a Bank Account in Puerto Rico
$550.00
Puerto Rico does not have a central bank and relies on the US Federal Reserve System (the Fed), the US central bank, as its central regulatory institution. It does not maintain its own reserves. Non-resident entities are permitted to hold fully convertible domestic and foreign currency bank accounts within Puerto Rico.
Puerto Rico’s unique status as a US territory is why many banks are moving to the island – Puerto Rico is growing at 24 banks a year. This is a staggering number and Act 273 licenses might surpass Cayman Islands in 2 or 3 years.
We can help you open bank accounts in Puerto Rico.
Accounts are available for individuals.
We work with 4 different banks in Puerto Rico.
Each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services below to better understand if their banking services meet your needs:
- Strategic Bank (Corporate, Personal)
- Arival Bank (Corporate)
- CB International Bank LLC (Corporate, Personal)
- FV Bank (Personal)
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Strategic Bank
Account Details
| Eligibility | Offshore Companies, Onshore Companies |
| Min Deposit | USD 150,000 |
| Currencies | USD |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services | Transactional Banking |
Account Details
| Client Profile | Day-to-day banking |
| Min Deposit | USD 100,000 |
| Currencies | USD |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services | Checking Account |
Arival Bank
Account Details
| Eligibility | Offshore Companies |
| Min Deposit | N/A |
| Currencies | USD |
| Cards | No |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services |
CB International Bank LLC
Account Details
| Eligibility | Offshore Companies, Onshore Companies |
| Min Deposit | N/A |
| Currencies | Multicurrency |
| Cards | Yes |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services | Transactional Banking, Debit/Credit Card, Payment Processing |
Unionpay Merchant service for clients.
Account Details
| Client Profile | Day-to-day banking |
| Min Deposit | N/A |
| Currencies | Multicurrency |
| Cards | Yes |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services | Checking Account, Debit/Credit Card |
FV Bank
Account Details
| Client Profile | |
| Min Deposit | |
| Currencies | USD |
| Cards | Yes |
| Remote | Yes |
| Off-shore non-resident | Yes |
| Other Services |