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Puerto Rico’s Act 60 Individual Investor Tax Decree Is One Of The Most Competitive Tax Advantages Around, For Individuals.
Note that this incentive was previously known as Act 22.
Decree holders enjoy a total exemption from Puerto Rico income taxes on all passive income earned or accrued after becoming residents of Puerto Rico. Individual Investor grantees who are also US citizens would also pay no IRS tax on this same passive income.
By creating this incentive under Act 60, Puerto Rico seeks to attract new residents who will bring wealth to the island by purchasing real estate, goods, and services, and by making use of the island’s banking system.
Individual Investors Incentive provides tax exemptions to eligible individual investors with their primary tax home and residence in Puerto Rico. Act 22 grantees who are also US citizens would also pay no IRS tax on passive income accrued after becoming residents of Puerto Rico. Includes crypto-currency!
How to Qualify
To enjoy these unprecedented benefits, you must apply for an Individual Investor tax decree and establish bonafide residency in Puerto Rico within one year of applying.
To maintain this incentive in good standing, you must:
The Export Goods and Services Incentive was originally created to bring international business to Puerto Rico.
Corporate income is eligible for goods sold or services performed from Puerto Rico for clients located outside of Puerto Rico.
This incentive is specifically designed for service and trade businesses that can perform their work from within Puerto Rico for clients outside of Puerto Rico. Such businesses can apply for a tax exemption decree (grant) under Act 60. Once accepted, the grant is for a term of 15 years, and is renewable for an additional 15 years, as long as it maintains compliance with the law and the rules of the program.
How to Qualify
To take advantage of these incentives, you must meet the following conditions:
Puerto Rico Act 60 incentive programs gives investors and business owners access to world-class tax benefits. Business owners can reduce their total corporate tax to 2 or 4% and their tax on personal distributions to 0%, and investors can enjoy capital gains! Tax breaks can begin in as little as 2 weeks. Our friends from Puerto Rico Advantage can guide you through the whole process from forming the most effective tax savings strategy, to obtaining the tax incentives, to becoming establishes in Puerto Rico. Call (800) 755-5770, visit www.PRAdvantage.com, or click this link to schedule a free consultation.