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FAQs: Tax Incentives and Going to Puerto Rico

FAQs: Tax Incentives and Going to Puerto Rico

Puerto Rico has been around the news headlines a great deal recently. Especially, its status being a tax that is new for Americans has landed it on editorial pages from Forbes to GQ.

Only at Nomad Capitalist, we think everywhere has the right to “go where you’re treated best”, therefore we work each and every day assisting six- and seven-figure entrepreneurs legitimately reduce their fees with overseas taxation techniques.

For some – yet not all – American companies and their owners, Puerto Rico could be the ultimate tax haven. All things considered, company leaders such as for instance Grant Cardone have traditionally fled high-tax states like Ca for zero-tax states like Nevada, Florida, and Tennessee.

Nevertheless, eliminating state fees is just a little the main issue; residents of Florida and Nevada still spend US federal income tax, while Puerto Rico residents frequently usually do not.

As we’re fond of saying right here, you can move from Florida to Puerto Rico if you can move from California to Florida.

( By the measure, many people may additionally would you like to make one further leap to going overseas to, state, Panama… but that is another article.)

Numerous business owners and investors have actually questions regarding going to Puerto Rico to reduce their fees and never having to get fully overseas. However, we’ve found that numerous of the business people and traders have actually plenty of questions regarding exactly how things work with Puerto Rico.

As a result of Puerto Rico’s unique status inside the usa, going here feels for some like staying in a international nation.

To simply help entrepreneurs and investors understand what Puerto better Rico is about, we’ve put together this a number of faqs.

Fees in Puerto Rico

Puerto Rico has gotten a complete lot of attention from people like our buddy Peter Schiff for the taxation incentives like Act 20 and Act 22. Continue reading “FAQs: Tax Incentives and Going to Puerto Rico”