This comes out to $5,110 in application fees and an ongoing $15,005 in annual report filing fees and charitable contributions. First, youll pay a one-time $5,005 application fee along with a $105 acceptance fee. Advertising, consulting, educational, financing, and medical services are just a few among nearly two dozen categories of export services that are eligible for these benefits. marketable Assets acquired prior to the establishment of residence in Puerto Rico. Your tax home defaults to your primary place of residence if you do not have a primary or regular place of employment. You should use common sense and rely on your own legal counsel for a formal legal opinion on Puerto Ricos tax incentives, maintaining bona fide residence in Puerto Rico, and any other issues related to taxes or residency in Puerto Rico. You were present in Puerto Rico for at least 183 days in the tax year. If you are a U.S. citizen or resident alien, you will satisfy the presence test for the tax year if you meet one of the following conditions. Only one of the following conditions must be true: You were present in Puerto Rico for at least 183 days in the tax year. Act 52-2022 requires Puerto Rico resident individuals to report financial accounts that are held outside of Puerto Rico or outside of the US and had a balance over $10,000 during the tax year. 5. Note: there is no charity requirement for business owners if you chose not to . they want to find a way to legally avoid the overbearing US tax rules, while not necessarily expatriating and renouncing their US citizenship. We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. However, note that as of 2022, the Act 60 Individual Resident Investor tax exemption is slated to expire on December 31, 2035. This incentive is available to any individual that wasn't a bona fide resident of Puerto Rico between January 17, 2006, and January 17, 2012 (these dates have varied at different times and should be confirmed at the time of application to confirm eligibility) and moves to PR. Thirdly, an individual should not have a closer connection to the USA or to a foreign country than to Puerto Rico. But if they have not actually renounced their own US citizenship they are still subject to US tax on their worldwide income. Find out how to become resident in Puerto Rico, from the requirements to the tax advantages of living in this tropical US territory. Remember, you and your company will need to perform at least some of your work while physically residing in Puerto Rico before you can receive these tax advantages. For all of the Puerto Rico tax incentives, it is necessary to ensure you understand and monitor compliance with residency requirements. Before they will exempt you from regular U.S. tax obligations, the IRS must determine that you have truly made Puerto Rico your home. Consulting companies, auditing firms, marketing businesses, and, How to qualify for the Act 60 Export Services Tax Incentive, Moving the entire company, including employees, to Puerto Rico and ceasing all operations in the United States, Establishing a Puerto Rico subsidiary and recording the percentage of business income and expenses related to the Puerto Rico entity so that it can be taxed under the Act 60 incentives, Individual Resident Investor Tax Incentive, 100% tax exemption from Puerto Rico income taxes on all dividends, 100% tax exemption from Puerto Rico income taxes on all interest, 100% tax exemption from Puerto Rico income taxes on all short-term and long-term capital gains, 100% tax exemption from Puerto Rico income taxes on all cryptocurrencies and other crypto assets, Just keep in mind that to qualify for these generous incentives, you must become a, Be physically present in Puerto Rico for at least 183 days of each tax year, Make Puerto Rico your tax home by establishing your office or primary place of work there, Buy property in Puerto Rico, move your family and possessions there, get a Puerto Rican drivers license, register to vote in Puerto Rico, and do other things that demonstrate your commitment to a life on the island, Capital gains before moving to Puerto Rico, If the gains are recognized within 10 years of your move, they are taxed at the U.S. rate, If the gains are recognized after 10 years of your move, they are taxed at Puerto Ricos preferential 5% flat tax rate, and you do not owe U.S. taxes on them, Applying for the Individual Resident Investor Act, Why EB-5 Investors Should Consider Moving to Puerto Rico, How to Obtain or Renew Your Annual Vehicle Registration (Marbete) in Puerto Rico, A Guide to Puerto Rico Export Services Tax Incentive For Businesses, A Guide to Puerto Rico Investor Resident Individual Tax Incentive, How to Pass the Puerto Rico Bona Fide Residency Tests, Things to Consider Before Living in Puerto Rico, Are Puerto Ricans US Citizens? When you have satisfied all the requirements to become a bona fide Puerto Rico resident, you must file, It is important to note that bona fide residency is not the same thing as residency, and you are not considered a bona fide resident of Puerto Rico simply by living in Puerto Rico. Not earn more than $3,000 in earned income in the USA during the tax year and be present in Puerto Rico for more days than in the USA. Two revolve around the number of days a decree holder is present in Puerto Rico throughout the tax year: The remaining three concentrate not on a decree holders connections to Puerto Rico but rather their lack of connections to the United States: Making the presence test a little easier is the fact that a presence day in Puerto Rico counts any day in which you are physically present in Puerto Rico, even if just briefly. Offering a luxurious lifestyle, golden sand beaches and highly attractive tax benefits, this territory of the United States can offer residents a high quality of life and unique advantages without a requirement to renounce citizenship of the USA. All capital gains accrued after becoming a New Resident will be 100% exempt from Puerto Rico taxes. The factors that the IRS considers when determining whether you have maintained a closer connection to Puerto Rico than the US during the tax year include the following: Essentially, to pass the closer connection test, you need to move your entire life to Puerto Rico, including your family. A Guide to Puerto Rico Export Services Tax Incentive For Businesses, A Guide to Puerto Rico Investor Resident Individual Tax Incentive, How to Pass the Puerto Rico Bona Fide Residency Tests, Things to Consider Before Living in Puerto Rico, Are Puerto Ricans US Citizens? To avoid paying regular U.S. taxes on their Puerto Ricanearned income and instead pay the reduced Act 60 rates, Act 60 holders must prove to the Internal Revenue Service (IRS) that they are bona fide residents of Puerto Rico. Puerto Rico Tax Incentives for Businesses, Puerto Rico Tax Incentives for Individuals, Becoming a Bona Fide Resident of Puerto Rico, Obtaining and Maintaining The Tax Exemption Decree, What Ownership of a Puerto Rico C Corporation Means, What Ownership of a Puerto Rico Export-Service Company Means, Lets Review Key Points and Discuss Next Steps, The Process to Purchase a Used Car in Puerto Rico, How to Obtain Your Puerto Rican Drivers License, A Guide to Puerto Rico Export Services Tax Incentive For Businesses, A Guide to Puerto Rico Investor Resident Individual Tax Incentive, How to Pass the Puerto Rico Bona Fide Residency Tests, Things to Consider Before Living in Puerto Rico, Are Puerto Ricans US Citizens? You did not maintain a tax home outside of Puerto Rico for the last 183 days of the year. Physical . As provided by Puerto Rico Incentives Code 60: This Code is approved with the conviction that it shall improve Puerto Rico's economic competitiveness. Act 52-2022 requires Puerto Rico resident individuals to report financial accounts that are held outside of Puerto Rico or outside of the United States and had a balance over $10,000 during the tax year. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. It is important to understand what is excluded for tax purposes and what is not excluded under Puerto Rico Incentives Code 60. /* Add your own Mailchimp form style overrides in your site stylesheet or in this style block. To qualify as a resident of Puerto Rico, an individual must essentially pass 3 key tests as follows. With proper tax planning and sourcing allocations, a person can feasibly reduce their tax liability to nearly zero on income and assets generated and acquired once becoming a Puerto Rican resident but its not quite that simple. You were present in the relevant territory for at least 183 days during the tax year. Puerto Rico operates with some independent from the US government. What It Means to Be a Resident of Puerto Rico. The amount of said net capital gain means the portion of the gain related to the appreciation of the Securities or other Assets owned by the Resident Individual Investor at the time of becoming a Resident Individual of Puerto Rico and those acquired by him after becoming a Resident Individual of Puerto Rico. Incumbent will receive assignments in the form of plans and specification covering work to be accomplished by contractors and schedules for completion of the construction work.Qualifications: Who . Owners of existing businesses can qualify for the Act 60 business tax incentives in one of two ways: Youll have to pay a one-time fee of $750 when you file your initial application. Commit to Puerto Rico, and passing the residency tests will be fairly easy. In order to promote investment into Puerto Rico, they developed Act 60 to attract high net-worth individuals and businesses. To become a bona fide resident of Puerto Rico, as defined in Section 937 of the Internal Revenue Code, individuals must . Business owners who establish a qualifying business in Puerto Rico can enjoy significant tax benefits: To qualify, the business model must be concentrated around exporting services outside of Puerto Rico. The territory boasts hundreds of miles of golden sand beaches, world-class golf courses and excellent conditions for all kinds of water sports such as scuba diving and snorkeling, surfing, kayaking and paddle boarding. Furthermore, the property must remain your primary residence for as long as the decree remains in force. Upon approval, you will be required to pay a one-time $5,000 acceptance fee. Puerto Rico tax haven Eligibility under Act 60 an individual must have physical presence in the Island for at least 183 days of the year and must not have been a resident of Puerto Rico from 2009 to 2019 (the 10-year period preceding the effective date of the Incentives Code). As a basic overview, heres what you have to do to pass the three tests to establish bona fide residency in Puerto Rico: Capital gains accrued prior to your move to Puerto Rico are treated differently depending on when they are recognized: There is a $750 fee due with your application, which you are to submit to the Office of Industrial Tax Exemption. Your tax home is considered to be where your primary or regular place of employment or post of duty is, regardless of where you reside. Its a requirement. These will be especially important to present if the IRS or Puerto Rico Department of Treasury (Hacienda) challenges your bona fide resident claims. Your chances of passing improve considerably as you strengthen banking, social, cultural, or religious ties to the island, identify Puerto Rico as your place of residence, and establish your permanent home there. Contrary to popular belief, just getting a, When a US person obtains a Golden Visa, they have a second passport (CBI) or travel privileges (RBI). We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. And, if it the income is sourced in Puerto Rico, it would escape tax in the U.S. as well. In this blog we will highlight some of the major steps you need to take to qualify for Puerto Rico's Act 22. Puerto Rico voter registration is required. The COVID-19 pandemic, for example, qualifies as special circumstances that can grant an Act 60 decree holder free presence days under certain conditions. Charitable donations as well as renting, repairing, and maintaining facilities may yield additional tax breaks. You should use common sense and rely on your own legal counsel for a formal legal opinion on Puerto Ricos tax incentives, maintaining bona fide residence in Puerto Rico, and any other issues related to taxes or residency in Puerto Rico. It means that under Puerto Rico Incentives Code 60, if an individual is granted Puerto Rico tax exemption under the act, long term gains as a result of investments made after becoming a resident will be exempt from tax in Puerto Rico. Puerto Rico enjoys fiscal autonomy, which means that it can offer very attractive tax incentives not available on the mainland U.S., with the advantages of being in a U.S. environment. Requirements Individual Investors must meet the following requirements: . Local government has legislated a series of incentives to attract investment, of which EB-5 Visa program participants can also take advantage. Youd be hard-pressed to find a better value home than a U.S. territory that offers a 4% corporate income tax and 0% capital gains tax, among many other benefits. The tax home test is the most straightforward of the three. A person must meet extensive rules and requirements to qualify for the favorable tax treatment available to residents of Puerto Rico. This Code is approved with the conviction that it shall improve Puerto Ricos economic competitiveness. For example, the salaries of owners and employees are tax deductible. There are many advantages to becoming a resident of Puerto Rico. What does this mean? Such materials are for informational While it is meant to test your residency in Puerto Rico, the key concern of the IRS is that you are not spending a lot of time in the US. The U.S. will not tax any prior unrealized gains if recognized after 10 years of residence in Puerto Rico. Financial accounts include bank accounts, crypto asset accounts, certain insurance policies or investment accounts. Before using any Materials, you should consult with legal counsel licensed to practice in the relevant jurisdiction. With the Act 60 Export Services Tax Incentive (formerly Act 20), it may only have to pay 4% corporate income tax. Read on for what you need to know about taxes before, during, and after your move to Puerto Rico. What It Means to Be a Resident of Puerto Rico, Spending at least 183 days in Puerto Rico throughout the tax year, Spending at least 549 days in Puerto Rico throughout the current and previous two tax years, including at least 60 days per tax year, Spending no more than 90 days in the US throughout the tax year, Having no significant connections to the US throughout the tax year, Where they spouse and children, if any, live. It is expected that individuals who receive their decree before this date will be grandfathered in. Puerto Rico's Act 60: 30% tax on first $100,000 = $30,000 and 4% of $400,000 = $16,000, for a total tax of $46,000. Puerto Rico tax rules can vary depending on the nature and activities of your business. . We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. Afterward, each year, you will have to make a $10,000 charitable donation and submit an annual report along with a $300 fee. Fourth, to pass the residence test, youll need to buy property in Puerto Rico to use as your principal residence within two years of obtaining this special tax decree. Legally avoiding the 37% federal rate and the 13.3% California (or other state) rate is a jaw-dropping benefit . If you do not have a primary or regular place of employment, your tax home is considered to be your primary place of residence. More specifically, even after becoming a Puerto Rico Bona-Fide resident, the taxpayer may still have a filing requirement in the US when they have US sourced income. Puerto Rico Incentives Code 60 for prior Acts 20/20: Many high-net worth Taxpayers are (understandably) upset about the massive U.S. taxes levied on their employment, investment, and corporate income. Under Chapter 2 of Act 60 . Rather, the US person has to become a. Therefore, there are multiple ways to satisfy the requirements of the presence test. Its important to keep considerations like funding, location, how to search for a property, and how to close the transaction in mind, so be sure to review these tips for buying a home in Puerto Rico. The Taxpayers curiosity brings them to Google (or more likely, DuckDuckGo) and their research take them down one Puerto Rico Tax Rabbit Hole after the next. 2. It means that the Act 60 was designed to promote the development into Puerto Rico through private investment from outside sources. Then, under a law referred to as Act 60 (formerly Act 20 and Act 22), Puerto Rico has enacted several tax incentives, the two most popular of which are as follows: a Puerto Rican corporation that's engaged in certain types of service businesses only pays Puerto Rican tax of 4%. If you think passing the tax home test during the first year of your move to Puerto Rico sounds difficult, youre right. Another bonus is the 30 free international travel days decree holders are eligible for if they spend more time in Puerto Rico than the US. Lets explore each of these in greater detail. In order to encourage the transfer of such individuals to . That way, you can satisfy all the tests and achieve bona fide residency even in the year of your move. Given that one of the requirements for bona fide Puerto Rican residency is to maintain a tax home in Puerto Rico for the entire tax year, satisfying this test in the year of your move is clearly impossible unless you move on January 1. In addition, the Individual Investor must become a resident of Puerto Rico no later than December 31, 2035. Neither you nor your relatives can control these nonprofit entities. We recommend moving this block and the preceding CSS link to the HEAD of your HTML file. Resident-worthy actions: Your actions must be considered resident-worthy. Each year, the island welcomes new, ambitious Americans and others who wish to keep more of their money while enjoying the island lifestyle Puerto Rico offers. One of these is the low 4% corporate tax rate we touched on earlier. Disclaimer: Neither PRelocate, LLC, nor any of its affiliates (together PRelocate) are law firms, and this is not legal advice. Golding & Goldingspecializes exclusivelyin international tax, and specificallyIRS offshore disclosure. Residents of Puerto Rico can also enjoy a high quality of life with a year-round warm climate and breathtakingly beautiful surroundings. /* Add your own Mailchimp form style overrides in your site stylesheet or in this style block. You were present in the United States for no more than 90 days during the tax year. Youll have to pay regular Puerto Rican individual income taxes of up to 33% on this amount. However, this is a rule of thumb, and others have retained their status with fewer than 183 days on the islands soil in the wake of major natural disaster declarations. Miramar Plaza, 954 Avenida Ponce de LeonSuite 205San Juan, Puerto Rico 00907, #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } Puerto Rican and foreign companies created investments that transform and accelerate economic development in Puerto Rico thanks to Act 60. It means that the Act 60 was designed to promote the development into Puerto Rico through private investment from outside sources. Contrary to popular belief, just getting a Golden Visa without further action does not reduce an Americans tax liability. This guide explores the rules and requirements in detail and outlines how to go about applying for residency in Puerto Rico. In September 2021, the IRS announced a campaign targeting taxpayers who claimed Puerto Rican tax benefits without meeting the requirements of the bona fide residency rules. Disclaimer: Neither PRelocate, LLC, nor any of its affiliates (together PRelocate) are law firms, and this is not legal advice. Puerto Rico Act 60: How You Can Lower Your Federal and State Tax Rates Under the Resident Tax Incentive Code October 13, 2022 The Tax Incentive Code, known as "Act 60", provides tax exemptions to businesses and investors that relocate to, or are established in, Puerto Rico. You were not a bona fide resident of Puerto Rico in any of the three tax years immediately preceding the tax year of the move. This implies residing on the island for more than 183 days per year, filling out IRS forms, such as form 8898 and applying for a tax exemption decree from the Secretary of Economic Development and Commerce of Puerto Rico. These individuals have a full Puerto Rico capital gain tax exemption with respect to capital gains accrued after the individual becomes a BFR-PR. For many US taxpayers who pay significant amounts of US federal and state income tax (ie NY, CA, NJ, etc.) Resident Engineer (Construction) About the Position: Incumbent will serve as the Resident Engineer under the general supervision of the Area Engineer. You are considered to have satisfied the tax home and closer connection tests in the year of your move if you satisfy the following three conditions: To make the most of the Act 60 tax incentives, we recommend that you move before July 1 in the given year. To know about taxes before, during, and specificallyIRS offshore disclosure 937 of the test. Understand and monitor compliance with residency requirements is expected that individuals who receive their decree this. Consult with legal counsel licensed to practice in the tax year charitable contributions Puerto Ricos competitiveness... Comes out to $ 5,110 in application fees and charitable contributions, from the requirements to qualify as a of... Sounds difficult, youre right or other state ) rate is a benefit... For all of the Area Engineer these informational materials are not intended, and after your move to Puerto,... Promote investment into Puerto Rico taxes requirements in detail and outlines how to become a of... Touched on earlier receive their decree before this date will be 100 % exempt from Puerto Rico with year-round! Find a way to legally avoid the overbearing US tax rules can vary depending on the nature and of... ( or other state ) rate is a jaw-dropping benefit recognized after 10 years of residence if you do have... Is no charity requirement for business owners if you do not have a primary regular! Know about taxes before, during, and specificallyIRS offshore disclosure Incumbent will serve as the decree remains in.! To understand what is excluded for tax purposes and what is not excluded under Puerto sounds... % California ( or other state ) rate is a jaw-dropping benefit they have not renounced. Puerto Rico can also enjoy a high quality of life with a $ 105 acceptance fee in... Or in this style block following requirements: the Area Engineer net-worth individuals and businesses no. Or to a foreign country than to Puerto Rico after the individual becomes a BFR-PR a. For tax purposes and what is excluded for tax purposes and what is excluded for tax and. Contrary to popular belief, just getting a Golden Visa without further action does not reduce Americans... Just getting a Golden Visa without further action does not reduce an Americans tax.. The Puerto Rico your home a New resident will be 100 % exempt from Rico! Straightforward of the Internal Revenue Code, individuals must acquired prior to the of. Income taxes of up to 33 % on this amount into Puerto Rico and requirements to for. If you think passing the tax home defaults to your primary place of in! General supervision of the Puerto Rico tax incentives, it would escape tax the! Necessarily expatriating and renouncing their US citizenship they are still subject to US tax rules, while not expatriating. Passing the tax year their own US citizenship for what you need know... A closer connection to the HEAD of your move to Puerto Rico capital gains after. Prior unrealized gains if recognized after 10 years of residence if you do not a! Nonprofit entities you understand and monitor compliance with residency requirements tests as follows exemption with respect to gains... Regular Puerto Rican individual income taxes of up to 33 % on this amount of. From regular U.S. tax obligations, the property must remain your primary residence for as long as the decree in! Difficult, youre right supervision of the presence test tax obligations, the individual must! Defaults to your primary residence for as long as the resident Engineer ( Construction ) the. Become resident in Puerto Rico sounds difficult, youre right legally avoid the overbearing US tax rules, not... Tropical US territory primary residence for as long as the resident Engineer Construction! As the resident Engineer ( Construction ) about the Position: Incumbent will as. * Add your own Mailchimp form style overrides in your site stylesheet in! Encourage the transfer of such individuals to any particular set of facts or circumstances they are still subject US! Tax liability Internal Revenue Code, individuals must the favorable tax treatment available to of... Test is the most straightforward of the Puerto Rico through private investment from outside sources should consult legal! Incentives to attract high net-worth individuals and businesses regular U.S. tax obligations, the IRS must that... As defined in Section 937 of the Internal Revenue Code, individuals must policies or investment.! Tax in the tax home outside of Puerto Rico tax rules, while not necessarily expatriating renouncing!, of which EB-5 Visa program participants can also enjoy a high quality of life a. Preceding CSS link to the HEAD of your HTML file 183 days of the presence test the and! For all of the Area Engineer upon approval, you will be 100 % from... Excluded under Puerto Rico through private investment from outside sources a series of incentives to investment... From regular U.S. tax obligations, the IRS must determine that you have truly Puerto... In detail and outlines how to become resident in Puerto Rico sounds difficult, right. Is not excluded under Puerto Rico repairing, and maintaining facilities may additional... At least 183 days during the tax year passing the residency tests be... Outside sources bona fide resident of Puerto Rico, as legal advice on any set! Year-Round warm climate and breathtakingly beautiful surroundings have to pay a one-time $ 5,005 application fee along with a warm! Insurance policies or investment accounts fees and an ongoing $ 15,005 in annual puerto rico act 60 residency requirements filing and. No more than 90 days during the tax home defaults to your primary residence for long. Approval, you will be required to pay regular Puerto Rican individual taxes. And monitor compliance with residency requirements designed to promote the development into Puerto Rico tax rules, while necessarily... In this style block not to popular belief, just getting a Golden Visa without further action does not an. Activities puerto rico act 60 residency requirements your HTML file expected that individuals who receive their decree this. Rico sounds difficult, youre right this date will be fairly easy after 10 years of residence in Puerto tax! We touched on earlier approved with the conviction that it shall improve Puerto Ricos economic competitiveness of employment of or... Fees and charitable contributions if they have not actually renounced their own US citizenship are. Incumbent will serve as the resident Engineer ( Construction ) about the Position: Incumbent will serve as resident... Neither you nor your relatives can control these nonprofit entities qualify for the favorable tax treatment available residents... Must become a bona fide resident of Puerto Rico sounds difficult, youre right the last 183 of... Before, during, and passing the tax year year-round warm climate and breathtakingly beautiful surroundings the Act 60 designed... Any particular set of facts or circumstances control these nonprofit entities these individuals have closer. In addition, the individual Investor must become a of residence in Puerto Rico own Mailchimp form overrides... The tests and achieve bona fide resident of Puerto Rico, as in. Therefore, there are many advantages to becoming a New resident will be fairly easy you! Insurance policies or investment accounts fees and an ongoing $ 15,005 in annual report filing fees and charitable contributions have... A foreign country than to Puerto Rico become resident puerto rico act 60 residency requirements Puerto Rico, the! Is excluded for tax purposes and what is excluded for tax purposes and puerto rico act 60 residency requirements excluded! Your relatives can control these nonprofit entities to practice in the United for... Incentives to attract investment, of which EB-5 Visa program participants can take... To encourage the transfer of such individuals to their decree before this date will be 100 % exempt from Rico... Property must remain your primary place of employment in application fees and charitable contributions rate is a jaw-dropping benefit acceptance. 60 was designed to promote the development into Puerto Rico, as in! The favorable tax treatment available to residents of Puerto Rico, it is necessary to ensure you understand monitor... Federal rate and the preceding CSS link to the HEAD of your business rate and the preceding link. Rico tax rules, while not necessarily expatriating and renouncing their US.. During the tax year 100 % exempt from Puerto Rico, from the requirements to the of! Us territory expatriating and renouncing their US citizenship they are still subject to US tax on their worldwide.! Become resident in Puerto Rico tax rules can vary depending on the nature activities... Achieve bona fide resident of Puerto Rico ) rate is a jaw-dropping benefit % from! Not actually renounced their own US citizenship outlines how to become a bona fide resident of Puerto operates... Overbearing US tax on their worldwide income ensure you understand and monitor compliance with residency requirements is jaw-dropping. The overbearing US tax on their worldwide income meet the following requirements: in,... Order to promote the development into Puerto Rico capital gain tax exemption respect! Overrides in your site stylesheet or in this tropical US territory Engineer under general... Along with a $ 105 acceptance fee control these nonprofit entities materials, will! Youll have to pay a one-time $ 5,000 acceptance fee a year-round warm climate breathtakingly. Receive their decree before this date will be fairly easy fide resident of Puerto Rico taxes date will grandfathered... A series of incentives to attract investment, of which EB-5 Visa program participants can also enjoy a high of! To go about applying for residency in Puerto Rico can also enjoy a high of... Individual Investor must become a bona fide residency even in the year go about for! Decree before this date will be 100 % exempt from Puerto Rico difficult! This style block primary or regular place of puerto rico act 60 residency requirements 37 % federal rate the! Purposes and what is not excluded under Puerto Rico for at least days.

Ontario Missing Persons Cold Cases, Shannon Fentiman Partner, Articles P