Commercial Banks, Savings Banks – United States – $25,000,000 USD
A very rare opportunity is available in the US territory of Puerto Rico. A fully operational international bank, with FedWire, is up for sale. The cost is approximately $25 million USD.
What makes this a unique opportunity is that this bank holds an International Banking Entity (IBE) license. The law changed in 2015 and IBEs became International Financial Entities (IFE).
The major difference between the licenses is that an IBE is eligible to open a branch in the United States where and IFE is not. This is especially important for international investors who would not otherwise be able to purchase a US banking charter. For example, they are unable to comply with the bank holding company rules, etc.
This IBE has about 3,500 accounts and $70 million in deposits. They provide correspondent services for a number of IFEs on the island. They also have a FedWire account.
Like an IFE, an IBE has a 4% tax rate. There are 29 IBEs licensed in Puerto Rico.
You will find that most IBEs are much larger than most IFEs. Licensees include Banco Popular, Citi, Scotiabank, UBS, etc.
If you are a qualified buyer of this bank, the seller will be happy to discuss the opportunity with you.
Please, no brokers!
A qualified buyer is someone that provides proof of funds for $25 million or a similar amount. Proof of funds is a letter from a well-known bank or brokerage firm. Please do not send a corporate bond, Bank Guarantee, SBLC, etc.
If you are a qualified buyer, but unable to provide proof of funds, we will ask for a retainer.
Asking Price $25,000,000