Live in Paradise and Save Money? Yes, It’s true!
Have you heard about the amazing Puerto Rio tax incentives? Learn how living in paradise can help you keep more of your hard-earned money!
You most likely know that Puerto Rico is a gorgeous island that sees sunny skies year-round. You know the beaches are pristine and the water is crystal clear. But did you also know that Puerto Rico is a tax haven?
If you like the idea of keeping more of your hard-earned money while enjoying the island lifestyle, then keep reading to learn about the different tax incentives that are attracting investors and business owners to the island.
Puerto Rico’s Act 60
Also known as the Export Services Tax Incentive – For Businesses, Act 60 allows qualifying business owners in Puerto Rico to enjoy significant tax benefits, such as:
- 4% flat corporate tax rate
- 100% tax exemption on distributions from earnings and profits
- 50% tax exemption on municipal taxes
- 75% tax exemption on municipal and state property taxes
To qualify, the business and all employees must be located on the island and focus on exporting services outside of Puerto Rico. Business that fit this model would be auditing firms, marketing businesses and consulting companies.
Puerto Rico’s Act 22
This act offers benefits to individual investors who move to Puerto Rico and live here full time. Qualifying residents will benefit from:
- 100% tax exemption on Puerto Rico-sourced dividends
- 100% tax exemption on Puerto Rico-sourced interest
- 100% tax exception from Puerto Rico income taxes on all short-term and long-term capital gains accrued (once residency has been established)
To be eligible, you must be a bona fide resident of the island, have a bank account here, and donate $5,000 annually to a non-profit on the island.
We’ll Help You Move and Save
If the idea of living in paradise and saving money appeals to you, then get in touch with us. We help countless people just like you make the big move to the island.
We’re passionate about real estate and about helping clients make the best financial decisions for themselves and their family. We’re honest, hard-working, and excellent negotiators, so we can always get our clients the best deals possible.
If you’re looking to move to Puerto Rico to take advantage of these amazing tax incentives, then let’s talk. We go above and beyond to provide excellent customer service. Have any questions about Puerto Rico tax incentives for 2020 or Puerto Rico’s economic development incentives? Give us a call. We always make time to answer any questions our clients may have.