Puerto Rico Real Estate: Foreign License Risks | Metro PR

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Concerns Raised Over Proposed Occupational Licensing Law in Puerto rico

A leading voice in puerto Rico’s real estate sector is urging Governor Jennifer González Colón to veto Senate Project 6,legislation aiming to establish “Universal Recognition of Occupational and Professional Licensing in Puerto Rico.” Miguel Mercado Ruiz, president of teh Board of Corridors, Sellers and Real Empresas, argues the bill, authored by Senate President Thomas Rivera Schatz and recently approved by the Legislative Assembly, poses a significant risk to the stability of the island’s real estate market and consumer protection.

The proposed law seeks to validate professional licenses held in other U.S. jurisdictions, allowing professionals to practice in Puerto Rico without undergoing the standard evaluation processes. While proponents suggest this will streamline professional opportunities, mercado Ruiz contends it fundamentally misunderstands the nuances of licensing and reciprocity. He emphasizes that a universal license doesn’t exist in any U.S. state; instead, reciprocity agreements are typically reserved for jurisdictions with highly similar legal frameworks – primarily to safeguard consumers.

“Reciprocity, license validation, and renewal are distinct concepts being conflated within this project,” Mercado Ruiz stated in a communication to real estate professionals. “Puerto Rico already faces an oversupply of licensed professionals. This law would only exacerbate the issue, potentially attracting significant external economic interests that could disrupt the existing market.”

A key concern is the potential erosion of jurisdiction for local regulatory bodies like Daco, which has no equivalent in many other states. Mercado Ruiz also expressed disappointment with the lack of industry consultation during the bill’s advancement. Despite documented opposition and available opportunities for public input,he claims the real estate sector was largely excluded from the process.

“The question remains: where was the voice of the real estate industry throughout this debate?” he asked. “We urge Governor González to prioritize the protection of Puerto Rican professionals, our jurisdiction, and, most importantly, the consumer by vetoing this project.”

Senate Project 6 outlines a standardized licensing process for a broad range of professions under the oversight of the state Department. The list includes,but is not limited to: public accountants,architects,landscape architects,pharmacy technicians,barbers,professional counselors,cosmetologists,dentists,private detectives,electricians,nurses,coaches,stylists,photographers,tour guides,pesticide inspectors,legal intermediaries,sign language interpreters,physical education teachers,automotive technicians,nutritionists,dietitians,optometrists,electrical experts,plumbers,podiatrists,psychologists,chemists,nail technicians,vocational rehabilitators,speech and language therapists,and occupational therapists.

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