The International Financial Entities Act Seminar

In Act No. 273 of Sept. 2012, Puerto Rico created the International Financial Entities (IFEs or EFIs in Spanish) to bring much needed investment & jobs to the island. It was believed to be one of the most effective licenses for Financial Institutions that could set-up a Small International Bank and provide Financial Services Companies, bank products & services. Learn how the Act came about, his initial intentions, the licensing process, the FRBNY application and the current state of IFEs in Puerto Rico.

Becoming licensed as an International Financial Entity in Puerto Rico is an elaborate process for any company or investment group and the OCIF (Office of the Commissioner of Financial Institutions) goes through a very detailed vetting path to make sure the IFEs authorized are up-to-par with any top-notch financial institution in the world. Dully organized IFEs may apply for the opening of Bank Accounts with the Federal Reserve Bank of New York, a process than is in itself lengthy as the Fed screens applications thoroughly.

IFEs can offer international banking, international payment processing, investment management, brokerage and a large variety of financial services to clients outside of Puerto Rico under the supervision of OFIC, who is examining the business plans of the applicants t make sure they are set-up properly to offer the services & products a modern, compliant and solid institution must have. More information on IFEs can be read in Mohr World Consulting’s IFE page.

Helping you explore if an IFE is needed, desirable or possible for you or your company, is our first objective in putting together this seminar. It is important to get acquainted with the Act before the Conference next day to get the full advantage of the discussions of the Conference.

The coordinators of this seminar, Ana del Toro & Jose Luis Ramirez-Coll from Antonetti Montalvo & Ramírez-Coll (AMRC), a Puerto Rican law firm founded in 2015, will explain the basic provisions of the act, inviting other presenters as well, to walk you through the act, the licensing process, the dos and don’ts, the opportunities & possibilities, but also the challenges and complexities of submitting an application and obtaining a license.

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Your Conference Registration includes this afternoon seminar on June 5th, admission to the Trade Fair, an invitation to the Welcome Reception at the end of the Pre-Conference Day and the Conference on June 6th. The seminar will be in Spanish but we will accommodate English speaking participants. Upon completion of  the Seminar, the participants will receive a certificate of participation by email (PDF to print/save).

Attend this one-of-a-kind seminar and develop a clear understanding of the IFE Act. The subject matter presented will be explained thoroughly and the different aspects that make this Act so important will come together as the seminar progresses and more speakers & panelist share their expertise. Since most attendees are experienced, participation will be encouraged.