Question 1

What is Law 60 in Puerto Rico?

Accepted Answer

Law 60, the Puerto Rico Incentives Code, consolidates the island's tax incentive programs into a single framework. It is the successor to earlier laws such as Acts 20 and 22 and offers incentives to qualifying investors and businesses.

Question 2

Who can qualify for incentives under Law 60?

Accepted Answer

Eligibility generally depends on establishing bona fide residency in Puerto Rico, operating an eligible business or export-services activity, and meeting employment and investment conditions. An attorney is strongly advised.

Question 3

What makes a contract valid in Puerto Rico?

Accepted Answer

Under the Civil Code, a valid contract generally requires consent of the parties, a definite object, and a lawful cause. While many agreements can be verbal, a written contract makes its terms easier to prove.

Question 4

Should I have a lawyer review a contract before signing?

Accepted Answer

Yes, especially for significant commitments. An attorney can flag unfavorable terms, clarify obligations and deadlines, and add protections such as termination and dispute-resolution clauses.

Carla Marrero Bishop

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