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Legal Entities in Puerto Rico

ByROBERT ALEX FLEMING

By: Robert A. Fleming- Business Attorney Puerto Rico Investors in Puerto Rico have a variety of options for managing & optimizing  liability  and tax issues.  A business can operate under  a wide range of legal structures, from basic sole proprietorships and general partnerships to special purpose corporations and limited liability companies.  The most typical forms are limited partnerships, general corporations, non-profit, closed corporations, professional corporations and limited liability corporations. Puerto Rico’s corporate law is based…

Why twenty percent of your workforce may be sequestering the rest

ByROBERT ALEX FLEMING

A recent study by Gallup shows that workers’ attitudes towards their workplace have not changed in a decade. The metric is based on the level of worker engagement with the employer;  a concept very related to productivity.  For ten years, the percentage of engaged, disengaged or actively disengaged has remained relatively constant. This leads me to two assumptions that I confess may be too simplistic for many to digest. The first is that many of…

How Corporate Governance Affect Your Investments

How Corporate Governance Affect Your Investments

ByROBERT ALEX FLEMING

An inherent dichotomy exists between shareholders, board members, and officers. Although they are meant to work together, their individual goals and objectives often cause friction between them. The  system by which companies are directed and controlled is commonly known as corporate governance. If you own a small family business, this may not be as much of an issue. Likely, you are the shareholder, director, and officer, all hidden within the company’s distinct identity and limited…

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Hours of Work

ByROBERT ALEX FLEMING

Regular working hours  in Puerto Rico are eight (8) hours during any workday and forty hours (40) during any workweek.  Thus eight (8) hours of work constitute the legal workday in Puerto Rico and forty (40) hours of work constitute a workweek. Extra working hours include: hours that an employee works for his employer in excess of eight (8) hours during any period of twenty-four (24) consecutive hours; hours that an employee works for his…

Professionals in Puerto Rico and FLSA

ByROBERT ALEX FLEMING

In Puerto Rico, certain professionals, including those in the creative field are exempt under minimum wage laws. The exempt categories are similar to those under  federal law. In addition to the requirements as to the wage rate and form of payment, the professional employee exemption applies only if its essential function of work requires advanced knowledge in a scientific or scholarly field predominantly intellectual and includes the consistent exercise of discretion and independent trial. No…

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Labor & Employment Laws in Puerto Rico

ByROBERT ALEX FLEMING

In Puerto Rico, both federal labor and employment laws and local labor and employment laws uniquely govern the workplace, providing a comprehensive legal framework protecting the rights of workers are upheld. Federal labor and employment laws applicable in Puerto Rico include: With certain limitations, Federal labor and employment laws generally apply in Puerto Rico.  These include: Age Discrimination in Employment Act (ADEA) American With Disabilities Act (ADA) Consolidated Omnibus Budget Reconciliation Act (COBRA) Davis Bacon-Act…