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Tourism-Committed Corporations
Tax incentive for corporations making substantial commitments to tourism sector development and operations.
8 min
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Section Code:
2051.01 (b)-2
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Purpose:
Visitor Economy — 2051.01 (b)-2
Overview
The Tourism-Committed Corporations designation under Section 2051.01(b)-2 of Act 60-2019, as amended, provides preferential tax treatment for businesses making substantial commitments to tourism sector development in Puerto Rico. This designation addresses significant tourism-related investments and operations beyond specific accommodation or attraction categories.
Qualifying tourism corporations may receive reduced corporate income tax rates, property tax exemptions, and municipal tax relief based on substantial tourism commitments. The program attracts major tourism investors and operators making significant contributions to Puerto Rico's tourism infrastructure and services.
The key distinction is its focus on substantial tourism commitments rather than specific property types. Tourism-committed corporations demonstrate significant investment and operational scale in tourism activities.
Key Benefits
Reduced Corporate Income Tax Rate
Tourism corporations may receive reduced rates on tourism-related income.
Property Tax Exemptions
Tourism properties and facilities may receive property tax exemptions.
Municipal Tax Relief
Tourism corporations may receive exemptions from municipal license taxes.
Flexible Tourism Activities
Designation accommodates diverse tourism operations and investments meeting commitment thresholds.
Requirements & Obligations
Tourism Commitment Requirements
Corporations must demonstrate substantial commitments to tourism development including investment levels, employment creation, or tourism service provision.
Investment Thresholds
Minimum investment and operational commitments apply based on tourism sector contribution.
Tourism Operations
Corporations must conduct genuine tourism-related activities contributing to Puerto Rico's tourism economy.
Employment
Tourism corporations must employ Puerto Rico residents in tourism operations.
Reporting
Annual reports document tourism operations, investments, revenues, and employment.
How to Apply
Applications typically require eight (8) to eighteen (18) months. Applications include tourism commitment descriptions, investment plans, operational projections, and economic impact analyses. Upon approval, corporations implement tourism commitments and commence operations.
This information is educational and should not be considered legal or tax advice. Applicants should consult with qualified legal and tax professionals familiar with Puerto Rico incentive programs before making any business decisions or submitting applications.
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