P.R. Laws tit. 7, § 3092
(a) The international financial institution shall employ on a full-time basis a minimum of four (4) persons at its business office or offices in Puerto Rico.
The Commissioner may authorize a lesser number of employees at the request of the interested party, for which authorization the Commissioner shall evaluate factors such as the authorities granted under the license issued in accordance with this chapter, the nature and complexity of its operations in Puerto Rico, and those other criteria established in the regulations of the Commissioner.
(b) The full-time employees of a person of which an international financial institution is a unit which render some services to such entity, shall be deemed to be full-time employees of such entity for purposes of the employment requirements set forth in subsection (a) of this section.
(c) The employment requirement provided in this section shall not be used to comply with the terms and conditions of a tax exemption decree issued under any other act.
History —Sept. 25, 2012, No. 273, § 13.