Criminal Background Check – Official Report from Department of Justice

Criminal Background Check – Official Report from Department of Justice

As you may know, part of the requirement documentation for Puerto Rico Act 20 tax incentive application – or Puerto Rico Act 22 tax incentive application for that matter – requires that the applicant submit a criminal background check for the shareholders of the company applying for the Act 20 application.

Up until early 2016, paid criminal background checks were allowed as part of the submission. Recently, we obtained the following communication from the DDEC:

Criminal record of the Applicant, issued by the corresponding authority of the State or Country of last residence; Not provided, we are no longer accepting paid criminal background checks.

Please be advised that this is an essential part of the applicant’s document submission in order for the Act 20 tax application be considered complete and ready for review.

In our opinion, this is great, in order to guarantee that newcomers to the island are clean and have no criminal background. That said, this will probably take a few days to process, considering that some states have very strict rules regarding who can solicit a background check and what information the state will provide.

For a directory of the Department of States website of the United States, please click here.

Should you have any questions on how to go about the application of a Puerto Rico Act 20 tax incentive decree, be sure to contact me below.

Miguel Nicolas Moreda, CPA, CIRA

Miguel Nicolas is the founder of Porto Capital. Prior to working as a financial and restructuring advisor for small and medium-sized businesses, he worked at GFR Media Real Estate Division as Finance Manager. Before that, he worked in the Business Advisory Division at Ernst & Young US, LLP in the United States.

He is holds an undergraduate degree in accounting from the University of Puerto Rico. He also possess graduate degrees from the University of Puerto Rico School of Law and IE Business School in Spain. Miguel is a Certified Public Accountant (CPA) and a Certified Insolvency and Restructuring Advisor (CIRA).

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