Introduction to the Coffee Company
The LLC behind a coffee brand owned by El Salvador’s far-right strongman, Nayib Bukele, appears to be based in Miami. Last July, the 43-year-old Salvadoran president launched a coffee brand called Bean of Fire, which markets itself as a high-end purveyor sourcing beans from El Salvador.
Background of the Company
The company’s choice to base its LLC in Miami raises questions, given the president’s nationalist stance and efforts to attract foreign investment to El Salvador. Bean of Fire’s website describes its mission as promoting El Salvador’s coffee culture and supporting local farmers.
The LLC Registration
Public records show that the LLC behind Bean of Fire, Bean of Fire LLC, was registered in Florida in June 2022, a month before the brand’s launch. The registration lists a Miami address as the company’s principal place of business. This has sparked curiosity among observers, who question why a company owned by the president of El Salvador would choose to register in the United States.
Potential Reasons for Registration in Miami
There are several possible reasons why Bean of Fire might have chosen to register its LLC in Miami. One reason could be to take advantage of Florida’s business-friendly environment and lack of state income tax. Another reason might be to access the US market more easily, as Miami is a major hub for international trade and commerce.
Tax Benefits
Registering in Florida could provide tax benefits for the company, as the state has a reputation for being favorable to businesses. However, this raises questions about why the company wouldn’t register in El Salvador, where it sources its coffee beans and where the president is actively promoting economic development.
Implications of the Registration
The registration of Bean of Fire’s LLC in Miami has implications for the company’s transparency and accountability. As a privately held company, Bean of Fire is not required to disclose its financial information publicly. However, the fact that it is owned by a public figure like President Bukele raises questions about potential conflicts of interest and the use of public office for personal gain.
Conclusion
The registration of Bean of Fire’s LLC in Miami is a curious choice, given the company’s mission to promote El Salvador’s coffee culture and support local farmers. While there may be valid reasons for the company’s decision, it raises questions about transparency, accountability, and potential conflicts of interest.
FAQs
- Q: Why did Bean of Fire register its LLC in Miami?
A: The exact reason for the registration is not clear, but possible reasons include taking advantage of Florida’s business-friendly environment and accessing the US market more easily. - Q: Is Bean of Fire a publicly traded company?
A: No, Bean of Fire is a privately held company and is not required to disclose its financial information publicly. - Q: What are the implications of the registration for transparency and accountability?
A: The registration of Bean of Fire’s LLC in Miami raises questions about transparency and accountability, particularly given the company’s ownership by a public figure like President Bukele.
