Carlos Fontán

Co-Founder and Former Director of the Office of Incentives for Businesses in Puerto Rico
Formentus LLC

Attorney Carlos M. Fontán earned a bachelor's degree in accounting from the University of Puerto Rico, Río Piedras Campus, in 2006 and a Juris Doctor from the same institution in 2009. He is admitted to practice before the Commonwealth of Puerto Rico Court and the U.S. District Court for the District of Puerto Rico.

Carlos began his legal career in 2010 at the local firm Iguina Oharriz Attorneys at Law. He later joined the Puerto Rico Department of Justice, where he became the lead attorney in multiple high-profile cases involving tax and expropriation law.

In 2015, he transitioned to the Office of Industrial Tax Exemption within the Department of Economic Development and Commerce (“DDEC”). In 2021, he was appointed Director of the Office of Incentives for Businesses in Puerto Rico, overseeing the implementation and management of Act No. 60-2019, known as the Puerto Rico Incentives Code. Under his leadership, the DDEC set a new record by approving over 8,500 tax decrees across a wide range of programs, including Manufacturing, Export Services, Individual Investors, Tourism, Private Equity Funds, Green Energy, Film, Young Entrepreneurs, and Opportunity Zones, among other key economic development initiatives and decree oversight programs.

In 2025, Carlos co-founded Formentus LLC, a consulting firm specializing in assisting businesses and investors in establishing or expanding operations in Puerto Rico, with a focus on navigating the local regulatory framework and maximizing opportunities on the island.