There is no S-Corporation election can be filed with the Internal Revenue Service and Puerto Rico to treat a Puerto Rico corporation as an S Corporation. You can create a pass through entity in Puerto Rico to serve the same purpose by using the following steps.

Step-1:

Create a Regular Corporation with the Puerto Rico.

Step-2:

Submit form 8832 “Entity Classification Election” with the Internal Revenue Service and select partnership or a limited partnership to pass through income and loss. The form can be downloaded from the IRS. Gov site.

Ste-3:

 Use the following links to file an Entity Classification Election with the Puerto Rico to pass through your entity’s income and loss.

You can find the forms to make a partnership election at http://www.hacienda.gobierno.pr/sites/default/files/documentos/sc-6044.pdf and http://www.hacienda.gobierno.pr/sites/default/files/documentos/sc_6045.pdf.