Why invest in Puerto Rico? Three words: big tax savings. In recent years, Puerto Rico has created a number of very attractive tax incentives to give the island's economy a boost by drawing in corporations and investors from beyond its shores. Delerme CPA, LLC can show you how to leverage the best opportunities for tax savings when you plan a move to Puerto Rico.
Big Tax Breaks for Corporations
Puerto Rico is reeling in U.S. and foreign businesses with powerful tax breaks. If the low corporate tax rate doesn't get your attention, the 60% exemption on municipal taxes definitely sweetens the deal. Not to mention the extensive list of credits and exemptions targeted to specific industries like manufacturing and film production. Everyone from computer development and advertising firms to financial services companies, call centers, and many others have already set up operations in Puerto Rico and are saving truckloads of money on taxes.
Puerto Rico, America's Best Tax Shelter
Puerto Rico has become a real contender among countries that insulate individuals from tax exposure. Many countries considered to be tax shelters require you to give up your U.S. citizenship but Puerto Rico allows an individual to maintain their citizenship when becoming a resident. Even more intriguing for U.S. citizens is the fact that the IRS has no jurisdiction in Puerto Rico so there are also no exit taxes on capital gains if you ever need to relocate.
Benefits That Go Beyond Taxes
Puerto Rico has even more to offer than great tax savings, it has the right atmosphere for business. The banking system is backed and regulated by the FDIC, the official languages are English and Spanish (two of the most widely spoken languages in the world), and no passport is required for American citizens, making it especially appealing to U.S. businesses. The island is also strategically located midway between North and South America, bridging the gap between these two continents. All of these factors contribute to a strong business climate that's ready to embrace global businesses and investors.
Low Taxes and the Beach
There couldn't be a better place to take advantage of all of these tax savings and business opportunities than Puerto Rico. Besides the extra money in your pocket, you'll be surrounded by legendary architecture, enjoy an average year-round temperature of 82 degrees, and will be minutes away from some of the world's best beaches. What more could you want?