I mean, the tax incentives sounded fantastic...
4% corporate tax? 0% income tax? And you didn’t even have to live there permanently?
But it seemed too good to be true. After all, governments being governments, I figured they would simply change the rules retroactively once they lured you down there.
I’ve been to Puerto Rico several times since then, and my skepticism has gradually subsided as more and more case law surrounding the legislation has become documented.
After my most recent trip this month and meetings with very high level government officials, I’m convinced that Puerto Rico is an absolute no-brainer for residency and domiciling a business.
This goes for just about anyone in the world, but especially for US citizens, as Puerto Rico’s tax incentives have even more to offer to those saddled with the IRS’ cross-border demands.
Read on in this month’s letter to find out what changed my mind, how you can make the most of Puerto Rico’s tax incentives, and the steps you need to take to qualify.
When my friend Peter Schiff moved a part of his business and his whole family down to Puerto Rico a few years ago, I teased him about doing something so short-sighted. I mean, the tax incentives sounded fantastic… 4% corporate tax? 0% income tax? And you didn’t even have to live there permanently? But it…