I'll second that on all fronts, also based from my time living in HI and a several trips to PR spent outside the resort strips. I also have investigated the concept from an entrepreneur standpoint, mostly because I'm looking for some Spanish immersion and if it would be fun to live there then the tax break is just icing on top. At this point I'm not seriously considering it for several reasons. First, it's tough to do an an entrepreneur because you have to effectively hire your talent in PR or get them to move there and do your sales outside PR. Both pieces of that are hard, the first nearly impossible if you depend on technical specialists. Second, I was very frustrated by the level of crime, grime, and lack of giving a shit about it in HI, and my sense in PR is that all of that is an order of magnitude greater. Like HI (and let me specify Oahu specifically), if you have a very go with the flow, relaxed attitude that allows you to overlook the garbage someone dumps on the sidewalk in front of your house or the graffiti they put on your fence several times a month (in a suburban subdivision!) you may like PR. I know folks in both places with that personality who really do like it. However the overlap between that type of person and a successful trader or entrepreneur who can take advantage of the tax benefit is pretty small, I'm guessing.
Lovelee, lovelee. Grab upscale neighborhood in Dorado, save big on Fed taxes, swim with permabear Peter Schiff 10 doors down, who is bringing in doctors in droves relocation due to 250k instant tax ben. .... tax angles are big, still figuring it out. Peter's parties are 5 chicks to 1 guy, one fox after the other. They see him on TV and know he is Salvation.
How exactly does a doctor save anything? You can't use the tax break on any money earned before you move to PR and it has to be income sourced from outside the island while you live there, i.e. you can't spent 5 months working in CONUS and think that income is tax free. I think you might not fully understand the significant restrictions that come with it, this is something where the devil's in the details and they really matter! It really works best for a fund manager, and maybe you could make it work with the right kind of business. It definitely does not work for anyone providing a service that has to be done in person, i.e. a doctor.
I can dig it. Would never want to be a doc anyway. Loooong hours. Tax bens for PR. ..... you're right, significant stuff I don't know.
Considering that he did not make money in 2008 (at least according to the HF DB), he's not into implosion either. He's into 5 to 1 chicks at his parties, I guess FWIW, I considered the PR trade briefly, but gave up on the idea after visiting the island
Net worth reportedly 70 m. His lifestyle is in line with 2 m/yr personal partying. One glaringly noticeable thing. .... his PR household female staff is foxier than the rich guests at his parties. Want to hit on one? Let Pete introduce you, "mi amigo, J, el va a ensenarte ingles". You're in like Flint. Never a dull moment with Pete around.
Avenida Juan Ponce de León ("The Golden Mile") is the Centre of the Commonwealth's banking & legal industries. In this particular on near left the Popular Center, the headquarters of Popular, Inc. (NYSE:BPOP) the islands' biggest bank which also has operations in the United States. On the near right American International Plaza, followed by Oriental Center at the midterm, the headquarters of the islands' second largest bank OFG Bancorp ("Oriental") (NYSE:OFG), BPOP's biggest competitor. At the far field of the starboard the curved building is World Plaza (fmly. Westernbank World Plaza). The fountain of the Centro de Convenciones at the Convention Center District was designed by firm that designed that of the Bellagio. Caribe Tecno was one of the principal contractors. The Isla Grande Field (IATA: SIG, ICAO: TJIG, FAA LID: SIG) is located adjacently-across and is a part of, the Convention Center District. On the file gateway.PNG an aerial shot is provided of the Commonwealth's most important highway interjunction, where the arteries of the PR-22 (Expreso Sur) and PR-52 (Expreso Norte) converge into one another to interconnect the capital with the adjacent Dorado and Caguas metropolitan areas. Both directions count with a Carril Expreso de Renta Variable (variable-toll-fee reversible dynamical lane) which, for a toll of course, literally bypass around 80% of the traffic on rush hours. The Expreso Norte (the Dorado route) is managed by Metropistas, an Alianza Público-privada (Public–private partnership) (see Ley Núm. 29 del año 2009 (P. del S. 469)). The property circumforaneous on the north-northeast direction relative to the curvature of the highway is Plaza las Américas, Taubman Centers' Mall of San Juan crushing competitors. The owner is Empresas Fonalledas, whose visionary founder converted what used to be a dairy farm into one of the Nation's most powerful empires, and at boot most people thought he was delusional. The story goes that the 200th licensed female pilot in the world, Clara Livingston, who was akin to Amelia Earhart herself and had inherited from her father a cadastre of land about twice the size of Central Park erected a private airstrip on her premises of land. The Rockefellers had an interest in the island and it was Livingston who flew them around, and that's when the Rockefellers identified the cadastre which now forms the Ritz Carlton Reserve. The complex originally began as Rock Resorts, the suffix "Rock" from Rockefeller and "Reserve" from the fact that to the founders the topography insinuated a "natural reserve". It is from here that all the other encompassing communities such as Dorado Beach East bear their momentum. However, you wouldn't find many powerful politicians-or-businessmen alike living in Dorado Beach East. You could find them, instead, at the "Dorado Beach East" of the city: San Patricio. A cadastral estate in Mansiones de San Patricio Levorotatory, the interconnected community of sophisticated locals and expats alike abide from the history and tradition of the game that true golf is not course but its Links. The 'shithole' awaits you play hole #17 "Palo de Pollo" at Royal Isabela. If you happened to have your Sikorsky or AugustaWestland copter on-island you would have to call in advance Royal Isabela tower to state your intentions. The heliport is a private is a private field on local private property without radar which means that all departures or approaches would have to be executed by visual flight rules however clear to land or depart by the tower. Vectoring a short hop heading zero niner zero to Luís Muñoz Marín International to board Vieques Air Link flight V4106 non-stop service to Benjamín Rivera Noriega Airport (IATA: CPX, ICAO: TJCP, FAA LID: CPX), Isla de Culebra (Spanish Virgin Islands). On final approach, the aircraft will bank starboard to make the final turn in preparation to align with the runway. If you're sitting on the right and look down the window you'll see if not the second most exotic beach of the United States of America, because if so the first ought be Playa Tortuga in Culebrita Island —you'll need a yacht for that. The University of Puerto Rico system could be said to overrank the consortiums of Cambridge and Berkeley combined. The Mayagüez Campus produces the finest intellectual specimens sought about from the myriads of Lockheed to the realms of Wall Street, "callaito'". In fact, the Recinto de Ciencias Médicas (Medical Science Campus) what breads is worldwide caviar and of this we feel and we are proud for the class in which the so called 'groundogs days' (sic) hath overperformed abut the mainland in the management of the coronavirus pandemic —just as it hath beat the so called 'Dream Team' in the summer 2004 Olympics. Museo Castillo Serrallés, the estate of Destilería Serrallés. The alcohol industry is experiencing uncanny growth as an economic reaction to the coronavirus pandemic. Aerial view of Colegio San José de Río Piedras, one of Puerto Rico's «grandes écoles». The author does not have any affiliation of any kind with any or all of the many personalities, natural or juristic, could hath, hath, or ought to hath been mentioned in the construct of this reply to the thread. That being said, this time in personal first singular I would like to conclude by saying that I am an electrical engineer involved in the derivatives world, crypto, commodities, and fiat, and that if I were not a resident of Puerto Rico with the technology of the said Acts and other Acts unbeknownst theretofore here mentioned, we could be running our operation at a potentially "negative effective tax rate". As an addendum of closing, I exhort you'all to avail for yourselves to reject the null hypothesis o lo que es lo mismo, to not reject the alternate hypothesis that the statistical parity of crime and so statistics of the mainland are statistically-significant as higher than the crime statistics of the Commonwealth. Enclosing, I believe that if you move down here, meet the right people, connect with the right lawyers, and perhaps steer away from Dorado you will be on your way to trade on the floor of the Trading Floor of Enchantment —and we'll fucking love to enchant you. Yours most truly forever we'll remain, —Michael Faraday and the peoples of the islands of Puerto Rico!