Relocating to Puerto Rico for Act 20/22 (0% Capital Gains)

[kishp_ 5]

Hey Bearbull traders,

I hope everybody is doing well and keeping it green during these uncertain times in the market. I recently came across the tax benefits of relocating to Puerto Rico- namely, Act 20 and Act 22 in Puerto Rico which allows U.S. Persons who relocate to the Island, are physically present in the island for 183 days of the year, and do not own any assets/businesses based in the Mainland U.S, to pay 0% Capital Gains Taxes (Both Short Term and Long Term). This seems highly attractive to me as trading has become a significant source of my income.

I am wondering if anyone here has successfully relocated to PR and can walk me through some of the Pros and Cons of living on the Island for 6 months at a time. I am relatively young with minimal ties to the U.S and believe the significant tax savings, even for the next 3 years,  can be a life changing opportunity for the long term.

 

Thank you

Kish

[veronicababa 0]

Hey, I sent you a message but meant to post on this comment thread instead  lol

I am from PR, born and raised. I go there often. Let me know what specific questions you have. I am happy to help!

[Alastair 114]

I know nothin abt this topic, BUT I read a trader called Sang Lucci did this.  He actually setup a company in PR which other traders may use and work from.

Google him and see if you can find the name of his company in PR.  He does have a unique personality. Has many vids on YouTube.

Jus sharing info.