We work with licensed International Financial Entities (IFEs) and International Banking Entities (IBEs) in Puerto Rico, operating under OCIF supervision. These institutions are built for non-residents and offer USD banking, digital asset custody and Visa or Mastercard cards; some also hold accounts in multiple currencies.
Puerto Rico occupies a unique position in global banking. As a US territory, Puerto Rico is not part of the CRS, and its banks are classed as territory financial institutions, not as foreign banks for FATCA purposes. No automatic data exchange with European tax authorities takes place, and unlike elsewhere this is a structural, permanent feature, not a temporary window. At the same time, these institutions operate under US federal law, with high AML/KYC standards, access to the Federal Reserve System and USD clearing via the Fedwire network.
For crypto-minded clients Puerto Rico is especially interesting: IFEs are legally authorised to custody digital assets. Combined with USD banking and a Visa or Mastercard (depending on the bank), you get a complete financial profile inside a single institution. Some institutions also hold accounts in multiple currencies.
All figures are indicative and subject to change. Not investment advice.
EU account registers, EAPO, bail-in risk and de-banking, the full picture.
Five steps from order to activated account.
Which jurisdictions still sit outside the automatic exchange of information.
EAPO, Lugano, foreign judgments, an honest assessment.
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Proof of address and phone number must come from the same country, and that must be a genuine residence, not a PO box address. Our Nomad Package sets up a recognised address in the Philippines, including all required documents. Fully remote, no travel required. Ready in 1-2 weeks.
All information is provided for general guidance only and does not constitute legal, tax, or financial advice. Regulations and bank policies change; always verify current requirements before proceeding.