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FAQ

FREQUENT ASKED QUESTIONS

We know that registering a business can raise several questions, here we share some of the most frequently asked questions we receive. If you have any other questions or concerns, you can contact us here.

Why should I use the services of Odyssey Foundation Puerto Rico?

At Odyssey Foundation Puerto Rico we make the incorporation process short, easy, simple and transparent for you. You just have to provide us with simple information about you and your business idea and we will guide you throughout the entire process. Whether for a DBA (doing business as), LLC, Inc. or Non-Profit Foundation, we are here to help you.

How much does it cost to register?

If you meet the requirements, you can qualify for our services for free. You will only pay the applicable Government registration fees.

If you do not qualify, the cost varies depending on the type/business model you are going to register:

  • DBA (most common) $150.00

  • LLC $500.00

  • INC. or CORP. $400.00

  • Non-Profit Entity $255.00

Is there a documentation fee if I qualify to register for free?

No, for all people who qualify our services are 100% free of cost, only in the cases of LLCs and INCs. would pay the application filing fees directly to the Department of State of Puerto Rico and not to Odyssey Foundation Puerto Rico

Why are your services free?

As a Non-Profit Foundation, we can offer services free of charge to people who qualify. For those who do not qualify, we offer competitive pricing so that you can still benefit from our services without incurring excessive expenses that other lucrative businesses might offer.

What are the requirements to register my business for free?

The requirements to be able to use our aid are the following:

  • You must be between 18 and 30 years of age.

  • You must have a residential address in Puerto Rico.

  • You must be a participant in at least one government program for low/middle-income people. (including FAFSA or Pell Grant)

  • You must not have outstanding debts or sanctions with the Department of State of Puerto Rico or the Department of Treasury of Puerto Rico.

If I do not meet the requirements, how can I use the services?

Yes, at Odyssey Foundation Puerto Rico our goal is to make business registration processes accessible to everyone. For those people who do not qualify, we offer very affordable prices compared to the market so that everyone can fulfill their dream of having their own business on the island. If you want to know more about registration costs , click here .

What do I need to do to start the registration process and what documents do I need?

To begin the application process you must submit the application form by visiting the application page   request or find it here . Once you fill out the form we will contact you to schedule an appointment where you must bring the following documents:

  • Identification with valid photo

  • Proof of participation in a government program for low/middle-income people (if you qualify for our free services)

  • Username and password of your SURI account or if you do not have an account, your previous return or W-2 to open a new account

What does the business registration service include?

All business registration services include:

  • SURI account opening (if applicable)

  • Application for Merchant Registration Certificate

  • Employer Social Security Application (EIN)

  • Support throughout your business development from the beginning with Odyssey Foundation Puerto Rico

Furthermore, in cases of registration of LLC and INC. It includes the application process but does not include the application filing fees charged by the Department of State of Puerto Rico.

Will I receive support after my business is registered?

Once the registration process is complete, you will receive a consultation on some tips and the next steps you should follow to ensure the success of your business. At Odyssey Foundation Puerto Rico ourgoal is for your business registration process to be as transparent and informed as possible so that once your business is registered you will have unlimited support and consulting.

Register my business, now what?

There are certain actions you must take once your business registration is complete. Some examples could be:

  • Register your business on social networks.

  • Open a commercial bank account to separate your finances from those of your business.

  • If necessary, apply for patents and permits applicable to your type of business.

Is Odyssey Foundation Puerto Rico a government entity?

No, Odyssey is a Non-Profit Foundation led by young entrepreneurs and professionals from our community.

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