Welcome to “The Land of a Thousand Blessings.”
A short flight from the continental U.S., Puerto Rico is a wondrous dichotomy of American sensibilities and international charm. Blending Spanish, Indian and African cultures, the island boasts lush tropical forests, pristine beaches, and a diverse dining and nightclub scene.
There are far too many reasons why Puerto Rico is a wonderful place to live, here are just a few:
Temperatures on the island are moderate year-round and average 80 degrees in lower elevations and 70 in higher ones. The sun shines almost 365 days a year and gentle ocean breezes are ubiquitous. This perfect weather allows residents to take full advantage of the many outdoor activities the island offers such as diving, snorkeling, golfing, and parasailing.
The tiny island offers some big tax breaks. For starters, as long as income comes from Puerto Rican sources, U.S. citizens can avoid paying U.S. Federal personal income taxes. Second, Act 20, the Export Services Act, offers incentives to certain service businesses, including investment and hedge fund managers, to relocate to Puerto Rico and export their services. It does so by taxing their corporate profits at a flat 4%, while making the dividends paid from profits on exported services 100% tax exempt to individual recipients.
Act 22, the Individual Investors Act, was designed to primarily attract high net worth investors to Puerto Rico by providing complete tax exceptions on dividends, interest and capital gains, so long as the individual is present for at least 183 days a year (half the year) in Puerto Rico.
The Puerto Rican income tax is only 4% . Many online business professionals find this fact very attractive. And finally, qualified residents also avoid paying long-term gains or dividend tax. All of these tax breaks add up to BIG savings.
Close ties with the U.S.
There’s something incredible about being able to live in a tropical paradise, yet still have easy access to your friends and family back in the States. All flights from the U.S. to Puerto Rico are considered domestic and are typically two hours or less. English is commonly spoken by the locals, and the dollar is used as the primary currency.
Beautiful Old San Juan
One can’t speak of the wonders of Puerto Rico without mentioning Old San Juan, the walled city that still preserves its astonishing colonial architecture. An afternoon spent strolling the blue cobblestone streets that wind around brightly colored buildings is like spending a day back in time.
Smack dab in the middle of all of this historical beauty are some of the island’s best museums, galleries, restaurants, shops and nightlife.
And then there are the pristine white sand beaches that line San Juan’s northern edge. Life just feels better when you start each day on the balcony of your ocean view condo gazing at the azure waters before you as gulls circle overhead.
Your New Home Awaits You
Whether you’re looking for a winter apartment in Palmas, Humacao or a year-round residence in Rio Grande, Warren Rodriguez and his team at Extra Realty, Inc. are the #1 source for your Puerto Rico real estate needs. Browse local listings or contact Warren to setup an appointment today.
Your new home awaits!
Call Extra Realty: (787) 200-9852 Office or Email.