The Benefits of Moving to Puerto Rico as an Entrepreneur
Updated: Feb 18
I have always been a savvy entrepreneur, so I came across Puerto Rico since I always spend
time researching the newest trends and tax incentives for business owners. So, when my
business partner approached me with the idea of moving to Puerto Rico, I wasn’t quick to turn it
down. And it’s a good thing I didn’t. Because Puerto Rico has recently begun offering people
amazing tax incentives in exchange for moving there. The tax incentives have been around
since 2012, but have been re-invigorated following the commonwealth’s incredibly strict
lockdown policies that started in March 2020. Due to the lockdowns, Puerto Rico’s tourism and
hospitality industries were crushed. That, on top of the economic disaster that ensued from
Hurricane Maria in 2017, left Puerto Rico struggling with serious economic issues. In order to re-
invigorate the economy, local governments added to the already unbelievable tax incentives
that they had in place. Puerto Rico’s hope has been to lure productive people and their
successful businesses to the island.
Interestingly, although Puerto Rico is a commonwealth of the United States, and most things fall
under US federal law, Puerto Rico’s tax system is independent from the US. It actually has its
own tax agency that is similar to the IRS. However, despite their similarities, Puerto Rico’s tax
system is different from the US tax system. This is how the commonwealth is able to provide
residents with different tax incentives. The specific tax laws, known as Act 20 and Act 22 (now
collectively known as Act 60), make it so that Americans who live in Puerto Rico only have to pay
an income tax of 4%. Additionally, there is no tax on dividends and no capital gains tax.
When I learned this, I decided to jump on the opportunity to save money and boost my
business. My business partner and I relocated to the island and the rest was history. Now that I
have witnessed such amazing success in Puerto Rico, I am determined to share the opportunity
with other business owners, freelancers, and independent contractors whose jobs aren’t
location dependent. I noticed that most people either don’t know about this opportunity or believe that it’s too good to be true. That’s why I am determined to spread the message that it’s
not too good to be true and that it is an amazing business opportunity.
Since my business partner and I have moved to Puerto Rico, DB Media is doing better than
ever. In the short time that DB Media has been operating out of Puerto Rico, the company has
tripled its profits. I just want people to know this isn’t some sketchy loophole. It’s something
really great to do if you can be location independent and are looking to increase your income
without sacrificing your way of life. In addition to his marketing expertise, I also hope to provide
people with the knowledge and resources needed to make such a big move. Because, as I can
personally tell you, it’s worth it.
Here are some key points I will be emphasizing and exploring more in my column:
COVID 19 - because of COVID, the incentives to be an entrepreneur in Puerto Rico have increased even more.
4% Income Tax if you are American living in Puerto Rico.
There are No taxes on dividends and No capital gains taxes.
Puerto Rico is a beautiful country with many other benefits.