Puerto Rico Real Estate (Reposeidas en PR) Residential, Commercial, Relocation and REO in Puerto Rico Real Estate.

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Your #1 Puerto Rico Real Estate Website.


 

Welcome to  Extra Realty, Inc. 's  website.  After viewing our Puerto Rico real estate website, we believe that you will agree that we have the #1 Puerto Rico Real Estate Website, offering a top quality Real Estate (bienes raíces) product, and services.   Our Agency, Agents and Brokers cover San Juan, Old San Juan, Condado, Miramar, Carolina, Isla Verde, Loiza, Río Grande, Canóvana, Luquillo, Fajardo, and other cities and towns.  We welcome you to view our  Homes for Sale in PRCommercial Real Estate , For Rent or REO / Foreclosure (casas reposeidas) to view our portfolio of real estate in Puerto Rico.

Click on the following link to learn about Law No. 22 of 2012, also known as the "Individual Investors Incentives Act".

Warren Rodríguez, Boker, CRS, GRI, BS, Realtor®     
SFR Certified
Extra Realty, Inc.
(787) 593-0567

Para ver propiedades REPOSEIDAS haga clic a la imagen de SFR.Scan our QR Code nad save it on your cell to gain access to our newest listings.

 

 

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Puerto Rico Tax Incentives - Act 22


Puerto Rico - Income tax exemption granted to non-residents who establish domicile within a specified timeframe

 

During 2012, Acts 22-2012 and 138-2012 were approved by the Legislative Assembly of Puerto Rico. The purpose of these measures is to provide incentives to individuals who have NOT been residents of Puerto Rico during the past 15 years, to become residents of Puerto Rico. In order to encourage the transfer of such individuals to Puerto Rico, the Acts completely exempt from Puerto Rico income tax their passive income, which may consist of interest, dividends, and capital gains.

 

ACT 22

Purpose
Along with Act 20, Puerto Rico adopted the “Act to Promote the Relocation of Individual Investors” (Act 22) to stimulate economic development by offering nonresident individuals 100% tax exemptions on all interest, all dividends, and all long-term capital gains to entice nonresidents  to relocate in Puerto Rico.
 
Eligibility

Under the P.R. Internal Revenue Code: Nonresident individuals who become residents of Puerto Rico are considered eligible under Act 22 unless the individual was a resident of Puerto Rico at any time beginning on January 16, 1997 and ending on January 16, 2012.  An individual that becomes domiciled in Puerto Rico is considered a Puerto Rican resident. An individual’s 183-day physical presence in Puerto Rico establishes a presumption of residency under the Puerto Rico Tax Code.


Under the U.S. Internal Revenue Code: Under U.S. IRC §933,income derived from sources within Puerto Rico by individuals qualified as bona fide residents are exempt from federal income taxation. For an individual to considered a bona fide resident of Puerto Rico under U.S. IRC §937, an individual must be present in Puerto Rico for at least 183 days of the year. Second, the individual must not have a tax home outside of Puerto Rico during the year. A tax home is determined to be located near an individual’s principle place of business. Third, the individual must have a closer connection to Puerto Rico than the U.S. or another country. This is determined by a variety of factors including but not limited to the location of individual’s home, family, personal belongings, and voting district.  The tax exemption period begins on the date an individual becomes a resident of Puerto Rico.
 
Tax Incentives
0% Taxes on Dividends and Interest: A qualified individual’s income from dividends and interest are exempt from Puerto Rico income taxes during the exemption period. A qualified individual is also exempt from U.S. federal income taxes if the revenue generated is considered Puerto Rico source income under U.S. IRC §933.


0%-10% Taxes on Capital Gains: A qualified individual’s income from long-term capitals gains is exempt from Puerto Rico income taxes during the tax exemption period after the individual becomes a resident of Puerto Rico.  A qualified individual’s long-term capital gains prior to becoming a resident of Puerto Rico are subject to a 10% tax rate if realized within 10 years of residency or 5% if realized after 10 years of residency.


Under U.S. law, long-term capital gains prior to becoming a bona fide resident of Puerto Rico that are realized within 10 years are subject to the provisions of U.S. IRC. If the long-term capital gains are realized after 10 years, the U.S. tax rate is 0%. Thus a bona fide resident would only be subject to the 5% Puerto Rico tax rate.


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