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IPFS News Link • Puerto Rico

HUGE opportunity in Puerto Rico… and the developed country whose looming debt crisis is far worse

• https://www.sovereignman.com

We just finished a really -sensational- conference here in San Juan over the weekend showcasing Puerto Rico… with all of its challenges and opportunities.

We've talked about this before– Puerto Rico is an attractive place to live and do business thanks to some forward thinking tax incentives which stem from its unique status as a US territory.

All US territories, including Puerto Rico, American Samoa, US Virgin Islands, etc. are technically part of the United States.

But unlike the 50 states, US territories have their own tax systems and are NOT subject to US federal income tax.

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So whereas a resident of California will pay BOTH California state income tax as well as US federal income tax, a resident of Puerto Rico (in most cases) will ONLY pay Puerto Rican tax.

Until a few years ago there was very little difference; tax rates in Puerto Rico have traditionally been VERY high, so no rational person would have moved to the island trying to avoid taxes.

Then, in 2012, the Puerto Rican government began passing a series of tax incentives; the most famous of them are Acts 20 and 22, though there are many more.

Act 22 allows qualifying individuals to move to Puerto Rico and pay 0% tax on certain investment income.

This is perfect if you're an investor, trader, or possibly even a crypto speculator. You can buy and sell securities and pay 0% capital gains, living in Puerto Rico TAX FREE.

And because you're domiciled in Puerto Rico, you'll owe no tax to the IRS either.


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