Global business services provider TMF Group, announced this week it will begin offering corporate secretarial, human resources administration, payroll, and accounting services in Puerto Rico to support companies looking to start or expand operations on the island.
TMF Group enters the market upon recognizing “the increasing demand for on-the-ground support for businesses seeking to expand to Puerto Rico and other jurisdictions in the Caribbean and the United States. And while Puerto Rico may seem on the surface to be in tough economic times, TMF Group’s experts argue it still represents a sound investment.”
The island offers a point of entry to the U.S. economy; its central location offers some of the best business facilities in the Caribbean, making it an attractive jurisdiction for investors or companies looking to expand operations into the Caribbean or the United States, said Jason Gerlis, managing director at TMF USA Inc.
“TMF Group is constantly looking for the best way to service its clients, and helping them seize new opportunities will always be in our plan. Puerto Rico has a very strategic location and the busiest airport in the Caribbean receiving [more than] 10 million people a year,” he said.
On average, doing business in Puerto Rico costs 10 percent less than in the mainland United States and several incentives have been approved to stimulate economic development and attract Foreign Direct Investment (FDI) in sectors such as: manufacturing, tourism, financial services, agriculture, hospitality and hotel development, and renewable energy, he said.
TMF Group will offer statutory bookkeeping, corporate compliance and payroll management, fund accounting and valuation, shareholder services and human resources, among other services.