Mid‑market leaders across the globe are investing in sustainability, but not in the same way – or for the same reasons. North and South America see a route to competitive advantage and capital; Europe is turning regulation into efficiency; Asia‑Pacific ties ESG to innovation and digitalization; while Africa backs foundational energy and water to unlock growth.
Puerto Rico has positioned itself as a competitive jurisdiction for private equity funds through Act 60-2019, known as the Puerto Rico Incentives Code (“Incentives Code”). This article provides a high-level overview for fund managers, investors, and advisors of how private equity funds are structured, taxed, and regulated in Puerto Rico, with a focus on preserving tax incentives and mitigating compliance risks.
On March 11, 2026, the Puerto Rico Department of Economic Development and Commerce (“DDEC”) issued Administrative Order No. DDEC 2026‑002 (“Order”) establishing detailed operational, investment, and compliance guidelines for Private Equity Funds operating under Act 60‑2019.
Act 38-2026 (“Act”) was enacted into law, amending several provisions of Act No. 60 of 2019, as amended, known as the Puerto Rico Incentives Code (“Act 60”), applicable to tax benefits granted in a Decree of Tax Exemption (“Decree”) under the resident individual investors program (“Program”). The Act aims to update eligibility rules, preferential tax rates, and extend the 2036 sunset of the benefits to 2055.
The war in Iran has seen mid-market business optimism fall sharply in the first quarter of 2026, down six points to 68%, according to Grant Thornton’s latest International Business Report (IBR). Business leaders indicate concern about the war's impact on lead times and the cost of shipping or delivery of goods, with those expecting this to increase up five points to 47%. There is also a four point increase in concerns over a shortage of orders due to reduced demand (up to 48%).
Grant Thornton's Women in Business 2026 report reveals that 91.9% of mid-market leaders say they personally consider a company's gender equality initiatives when applying for roles, with two-thirds calling it a priority. If leaders demand this in their own job searches, candidates at every level increasingly expect the same transparency.
Grant Thornton Advisors adds Puerto Rico to multinational platform.
