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Key Things to Know Before Moving to Puerto Rico
Read on for many of the most important things to be aware of before you start a rewarding new life in the Caribbean.
It’s The Best Opportunity We Know
Things to Know About the Benefits of Moving to Puerto Rico
- Cost of Living and Tax Benefits in Puerto Rico
- The Lifestyle in Puerto Rico
Things to Know When Moving to Puerto Rico from the United States
- Pointers about Moving Requirements
- Pointers about Real Estate
- Pointers about Cars
- Pointers about Notaries
- Pointers about Legal Matters
Things to Know When Moving to Puerto Rico for the Tax Benefits
- Pointers about Act 60
- Pointers about Banks
You Know You’ll Be the Envy of Others on the Mainland
It’s The Best Opportunity We Know
Relocating to Puerto Rico is the best opportunity that most Americans have never heard of.
Word is getting around, though. Thousands of Americans have discovered that moving from the mainland to this U.S. territory in the Caribbean can be extremely rewarding without being extremely complicated. They’re now saving a bundle on taxes in a place with a lower cost of living than many expect.
Want to join them?
If you’ve been thinking about huge tax savings for yourself and your business from the comfort of an island paradise—just one of the benefits of moving to Puerto Rico—then keep reading.
Just keep in mind that Puerto Rico has its share of red tape. Familiarize yourself with some of the island’s bureaucratic challenges now to minimize surprises later on.
Things to Know About the Benefits of Moving to Puerto Rico
Cost of Living and Tax Benefits in Puerto Rico
The overall cost of living is lower than on the mainland.
Life in Puerto Rico is a superb value, with a high standard of living combined with an overall lower cost of living than most expect. Your dollar will go farther in Puerto Rico than in most U.S. cities.
You will likely save somewhere between 5% and 70% off the cost of living found in a typical city in the United States. Even the most expensive cities in Puerto Rico are less costly than most major cities in the rest of the United States. You can find lower healthcare costs, high-quality and affordable grocery stores, and inexpensive high-speed Internet on the island.
Take a look at this cost of living calculator to compare the prices of goods and services in specific cities in Puerto Rico and the rest of the United States.
The island offers generous tax incentives.
If you’re thinking about moving to Puerto Rico to avoid taxes, know that those who relocate and become bona fide residents of the island can benefit from especially favorable tax incentives thanks to a landmark piece of legislation called Act 60. Act 60 provides significant tax benefits to qualified businesses and individual investors. Your income from Puerto Rico can be exempt from federal and state taxes.
The Lifestyle in Puerto Rico
You can find many of the comforts of home on the island.
Moving to Puerto Rico doesn’t mean saying goodbye to the goods and services you’ve grown accustomed to on the mainland. U.S. retailers are easy to find here. You can shop at Burlington, The Gap, JCPenney, Macy’s, and Marshalls in Puerto Rico. The island has discount stores like Costco and Walmart.
Relocated Americans continue to pick up fast food at Burger King, McDonald’s Subway, and Wendy’s here. Prescription drugs are easily accessible from the island’s CVS and Walgreens pharmacies (some of which are open 24/7 and offer same-day delivery).
If you can’t find what you’re looking for in one of these places, Amazon delivers to Puerto Rico too.
The island hosts a vibrant and friendly culture.
Many residents have been pleased to discover how welcoming the people are on the island. The crime rate in the San Juan area is also lower than that of many comparable metropolitan areas in the rest of the United States.
How about the cuisine? The seafood on this island is top-notch. Rice, beans, plantains, and pork are staples in prepared food here, and meat is popular in Puerto Rican dishes. If you need a good coffee fix, Puerto Rico’s is of excellent quality.
Note that Spanish and English are the island’s two official languages, and sometimes forms will only be provided to you in Spanish. Your transition will go more smoothly if you speak Spanish or decide to learn some.
You can enjoy the great outdoors all year.
Puerto Rico offers a great selection of fun outdoor adventures. There aren’t many places where you can comfortably sunbathe on a golden beach and go swimming in January, but Puerto Rico is one of them.
Here you can also go kayaking in bioluminescent bays. From the walls of Spanish forts, watch the ocean’s waves crash against the island’s cliffs. Admire historic colonial buildings during a walk through cobblestone streets. Hike the scenic nature trails of the only tropical rainforest in the United States at El Yunque, then go zip lining through the treetops at the biggest adventure park in the Americas.
The sky’s the limit when it comes to sightseeing possibilities on the island.
Things to Know When Moving to Puerto Rico from the United States
Pointers about Moving Requirements
The transition isn’t difficult, but you’ll need to meet several requirements.
Moving to Puerto Rico is an easier transition than you may realize. You won’t need a passport or work permit to move to this U.S. territory. You won’t even have to change your U.S. dollars into another currency. Review this checklist before you move.
Also keep in mind that you must satisfy several requirements to become a bona fide resident and be eligible for full Act 60 tax benefits.
To pass the presence test, you must spend more time in Puerto Rico than in the rest of the United States. You can satisfy this requirement if you remain physically present inside Puerto Rico for at least 183 days of the taxable year. Certain exceptions may apply—for example, during a natural disaster.
To pass the tax home test, you must not keep a “tax home” (the primary place where you work and create value) outside of Puerto Rico.
To pass the closer connection test, you must convince the IRS that you have stronger ties to Puerto Rico than to the rest of the United States. Establishing banking, social, cultural, political, or religious ties to the island will demonstrate this.
In addition, you’ll need to buy property in Puerto Rico to use as your principal residence within two years of obtaining the Individual Resident Investor special tax decree. The property must remain your principal residence for you to continue receiving these tax advantages.
Pointers about Real Estate
We can help you to find the right home.
To maximize Puerto Rico’s tax benefits, you’ll need to buy a home on the island. PRelocate’s real estate team is the perfect choice to help you with everything from your home search to selecting a mortgage broker.
First, study the island’s neighborhoods. We’ve set up an authoritative database of the island’s housing options. Review these tips for buying a home in Puerto Rico.
Unless you plan to pay in cash, you’ll need a mortgage lender. Puerto Rico’s primary lenders include Banco Popular de Puerto Rico, First Mortgage, and Oriental Bank. These lenders are technologically savvy, offer many mortgage choices, and are located throughout Puerto Rico.
Puerto Rico is a community property state.
Puerto Rico is a community property state, so any property purchased after marriage—even if purchased by only one spouse, without involvement from the other—is considered joint property of both spouses. Depending on your real estate and family situation, this could lead to a tricky divorce process, so plan accordingly.
Puerto Rico’s inheritance laws force inheritance to go to children.
According to Puerto Rico’s forced inheritance laws, properties must be left to blood relatives—first children, then grandchildren, then parents—before a spouse. If you have any children, grandchildren, or parents alive at the time of your death, they are all required by law to take a portion of your estate before your spouse can, even if you’ve willed the property to your spouse.
Puerto Rico’s forced inheritance laws can complicate estate and family planning. However, Act 60 decree holders can avoid the forced inheritance law if the property is transferred via certain types of trusts.
U.S. estate and gift taxes apply to U.S.-born Puerto Rican residents.
The claim that Puerto Rico doesn’t have any estate and gift tax only applies to native-born Puerto Ricans. Even if you establish bona fide residency in Puerto Rico by passing the residency tests we touched on earlier, you’ll still be subject to federal U. S. estate and gift taxes. Plan accordingly.
Pointers about Cars
Think about whether it makes more sense to ship or buy your car here.
Life is much more enjoyable here with your own wheels. But does it make more sense to ship your current vehicle to the island or buy one after you arrive?
Shipping your car can be expensive. Check the vehicle shipping quotes from the top moving companies to Puerto Rico.
The price tags on cars at Puerto Rican dealerships are usually higher than those you’ll see on the mainland. However, many find that the extra expense of purchasing a car here is worth the convenience. Buying a car upon arrival means avoiding hefty transportation costs and import taxes. Those fees can easily exceed the higher price you’d pay to buy a car in Puerto Rico vs. on the mainland.
Pointers about Notaries
Finding a good notary is critical.
Obtaining a notary’s signature is a mandatory part of numerous processes in Puerto Rico, from buying real estate, to obtaining or paying off a mortgage, to filing a municipal tax return. So, find a good one, as you’ll be working with them a lot.
In Puerto Rico, notaries are lawyers and serve as title companies in real estate transactions.
The Puerto Rican real estate market is vastly different from elsewhere in the United States. On the island, notaries essentially provide the services of a title company. That means even more notary fees. U.S. title companies are far more affordable.
In addition, all notaries in Puerto Rico are lawyers. So whenever you need a document notarized, you’ll have to go to a lawyer–and pay the accompanying lawyer fees.
A notary is necessary to create a mortgage and retire or cancel it.
Expect huge notary fees if you’re getting a mortgage for your Puerto Rico property. You have to include a notary in the process, and they must charge a statutory minimum, which is rendered as a percentage of the initial mortgage amount. And you incur this charge twice—once when the mortgage is created, and once again when the mortgage is retired or canceled.
Pointers about Legal Matters
Postnuptials are essentially unenforced in Puerto Rico.
If you have a postnuptial agreement, don’t expect it to be enforced in Puerto Rico. Postnuptial agreements are rarely enforceable on the island, and ones drafted on the mainland are even less likely to be honored. Plan accordingly. Your postnuptial is essentially useless here.
Wills drafted on the mainland are generally unenforceable in Puerto Rico.
Any will—regardless of what you will to whom—is generally unenforceable in Puerto Rico if it was drafted on the mainland. Update your will as soon as possible after landing in Puerto Rico. If you want to will your property to your spouse, consult an experienced Puerto Rican tax expert.
Things to Know When Moving to Puerto Rico for the Tax Benefits
Pointers about Act 60
The Act 60 Individual Resident Investor Tax Incentive applies only to certain types of income.
The tax benefits of moving to Puerto Rico are substantial. The Act 60 Individual Resident Investor Tax Incentive is a lucrative tax exemption that can save individuals thousands in taxes. However, the exemption doesn’t apply to all income an Individual Resident Investor decree holder earns.
The incentive offers a 100% tax exemption on interest, dividends, and capital gains on investment assets, from securities to crypto assets. It can result in sizeable savings if you derive a lot of money from capital gains. But any income derived from salary is ineligible, and you’ll have to pay regular Puerto Rican income tax on it.
The Act 60 Export Services tax exemption only applies to certain types of income.
The Act 60 Export Services Tax Incentive can lower a Puerto Rico-based business’s corporate tax liability to only 4%, which is lower than the 21% in the United States. It’s also lower than the general Puerto Rican corporate tax rate of 37%. However, depending on the business’s activities, some of its income may not be eligible for the lower tax rate.
Only income derived from exported services qualifies for the 4% tax rate. Exempt income must be derived from services performed from Puerto Rico for clients outside of Puerto Rico. The types of companies can vary, but they must all export services abroad to reap the benefits of the Act 60 Export Services tax decree.
Act 60 Export Services isn’t available for sole proprietorships or self-employed individuals.
The Act 60 Export Services Tax Incentive is only available to business entities, such as corporations or LLCs. Sole proprietorships and self-employed individuals don’t qualify, even if their income is derived from qualifying exported service business activities. Suppose you currently provide eligible services as a sole proprietor or individual. In that case, you’ll have to form a new business entity, such as a corporation or LLC, and restructure your business activities accordingly.
Depending on your industry, such restructuring may not be possible due to licensing and regulatory challenges. In other industries, the shift to a business entity may entail the rewriting of contracts with your clients or suppliers. Whatever your situation, think about how you can form a Puerto Rican business entity that meets Act 60 Export Services requirements.
Act 60 Export Services businesses must pay the decree holder a “reasonable salary.”
Under Act 60 Export Services, the corporate tax rate is 4%–but the income tax rate remains 33% for income exceeding $61,500. One may attempt to circumvent income tax due by taking all their personal income from their Export Services company in dividends and jointly applying for an Act 60 Individual Resident Investor decree to obtain a 100% tax exemption on them. Filing for an Individual Resident Investor decree to forgo tax liability on dividends from your company is possible. But you can’t forgo a salary.
The Act 60 Export Services act stipulates that an Act 60 Export Services company must pay the decree holder a “reasonable salary,” which is taxed at the regular Puerto Rican tax rates. It’s worth hiring a Puerto Rican tax expert to determine the lowest possible “reasonable salary,” allowing you to take the rest of your share of the company’s profits in dividends.
Act 60 Export Services businesses are exempt from U.S. tax withholding for payments from the United States.
If your Act 60 Export Services business is owned 100% by bona fide Puerto Rican residents, any payments to the business from U.S. individuals or businesses are exempt from U.S. tax withholdings. To ensure that U.S. individuals and businesses do not inappropriately withhold on payments to your Act 60 Export Service business, you may need to fill out and send an IRS Form W-8BEN-E. That also means such payers won’t need to provide you with IRS Form 1099 annually.
Act 60 Export Services businesses may need to report their income using accrual accounting.
If your Act 60 Export Services business earns more than $1 million in annual gross revenue, the Puerto Rican government requires you to report your corporate income using accrual accounting. This means counting revenue or expenses when the transaction occurs rather than when the payment occurs. The accrual method paints a more accurate picture of a company’s cash flows, but it’s more expensive to implement than cash accounting.
Act 60 Export Services businesses may be audited every year.
If your Act 60 Export Services business makes more than $3 million in gross annual revenue, you will be forced to use accrual accounting, as explained above, and have your financials audited yearly. Puerto Rico places significant bureaucratic obligations on Act 60 Export Services tax-exempt businesses, and annual audits can create headaches for business owners. You must prepare for yearly audits if your company is big enough.
All Act 60 Export Services businesses must be registered in the municipality where they operate.
No matter which Puerto Rican municipality your Act 60 Export Services business operates in, business owners are required to register with the municipality. Each municipality levies a small tax on the gross revenue a business entity generates within its boundaries. These taxes apply to Act 60 Export Service businesses as well.
Decree holders do enjoy a 50% tax exemption on municipal taxes (100% for the first five years in Vieques and Culebra), as a well as a 100% exemption in their first semester of business. However, in most cases, be ready to pay for a small amount of municipal tax.
Act 60 Export Services businesses should maximize their net income while minimizing their gross revenue.
Considering the requirements imposed on higher-earning Act 60 Export Services businesses, the best business strategy is to minimize gross revenue while maximizing net revenue. If you can keep your revenue under $1 million, you’re free to use cash accounting. If you stay below $3 million, you can avoid annual audits. Carefully choosing a municipality can also be beneficial—if you set up shop in Vieques and Culebra, you can escape municipal taxes for the first years of your decree.
You’ll be taxed on your worldwide income.
In Puerto Rico, residents are taxed on worldwide income, regardless of where it was earned or sourced. So, if you earn income while on the mainland or in a foreign country, you’ll have to report it on your Puerto Rico tax return and pay any taxes you may owe on it. But you must also report that income on your U.S. tax return and pay any taxes you owe on it to the federal government.
Don’t worry—it’s not as bad as it sounds. Puerto Rico issues tax credits for any taxes paid on such income to the federal or a foreign government, so you won’t be double-taxed. Still, you can’t escape the extra bureaucracy of filing tax returns in multiple jurisdictions. If the tax in question qualifies for the Act 60 tax exemptions, it won’t be high enough to warrant paying extra tax to Puerto Rico, but if it doesn’t, you may have to. If the Puerto Rican tax rate is higher than the U.S. or foreign rate, you’ll still have to pay the difference to the Puerto Rican government.
Some U.S.-based retirement plans may not count as Puerto Rico-sourced taxes.
Since Puerto Rico is a U.S. territory you can maintain your U.S.-based retirement plan. However, depending on your retirement plan, the Puerto Rican government may not recognize it as tax-qualified, designating any gains earned in such plans as U.S.-based income. If the Puerto Rican government sees your retirement plan in this light, you may have to pay Puerto Rican tax on gains accrued after your move. If your retirement plan qualifies as a grantor trust under Puerto Rican law, your Export Services decree should protect you from tax liabilities.
Pointers about Banks
Puerto Rico bank services are slow and expensive.
If you’re used to the banking conveniences of the mainland, you’re in for a surprise in Puerto Rico. Banking services are slow because of outdated technology. You can expect a deluge of fees for just about anything. Need a certified or manager’s check? You will when dealing with the government, and it incurs a hefty fee. It’s expensive to send or receive a wire transfer, too .
Puerto Rico banks often barrage clients with questions about transactions.
Puerto Rico banks are extreme in their fraud prevention measures. For just about any transaction, from checks to wires, you can expect a barrage of questions. You can expect your checks to be returned for nonsensical reasons, even when you have sufficient capital in your account to cover them. Be prepared for annoyances when dealing with Puerto Rican banks.
The Puerto Rico government generally requires certified checks or manager’s checks, not personal or corporate checks.
In Puerto Rico, the government ensures it helps out its banker pals by mandating certified checks or manager’s checks for just about any payments to the government. Whether you’re trying to pay your taxes, pay filing fees, or pay for parking tickets, be prepared to take a trip to the bank, waste some of your time, and pay a fee to obtain a certified or manager’s check, even if the amount you’re paying is negligible.
You Know You’ll Still Be the Envy of Others on the Mainland
To recap, you’ll want to keep this pre-move information about tax benefits and responsibilities, bureaucratic processes, and moving logistics in mind. They’re not only good reminders of the opportunities that await in Puerto Rico, but will also help to ensure your move to the island is as trouble-free as possible. We hope this has given you a better sense of what moving from US to Puerto Rico is like.
Moving to Puerto Rico to avoid taxes is just one of countless good reasons to be here. Besides an overall cost of living that is lower than on the mainland, you can enjoy picture-perfect beaches and nature trails, tasty Caribbean treats, convenient shopping, and so much more.
Our friendly experts look forward to answering any questions you may have about moving to Puerto Rico. Let us show you how we can save you time, money, and effort on your move.
Contact us today.
Disclaimer: Neither PRelocate, LLC, nor any of its affiliates (together “PRelocate”) are law firms, and this is not legal advice. You should use common sense and rely on your own legal counsel for a formal legal opinion on Puerto Rico’s tax incentives, maintaining bona fide residence in Puerto Rico, and any other issues related to taxes or residency in Puerto Rico. PRelocate does not assume any responsibility for the contents of, or the consequences of using, any version of any real estate or other document templates or any spreadsheets found on our website (together, the “Materials”). Before using any Materials, you should consult with legal counsel licensed to practice in the relevant jurisdiction.
Moving to Puerto Rico: The Complete Relocation Guide
Looking to move somewhere warm, sunny and colorful? Look no further than the picturesque unincorporated U.S. territory of Puerto Rico. The island’s vibrant capital city of San Juan features colorful Spanish colonial buildings, sweeping ocean views and a wide selection of restaurants and cafes.
In addition to the main island, Puerto Rico is made up of several smaller islands, including Mona, Vieques and Culebra. Throughout the Commonwealth of Puerto Rico, residents and visitors will find beaches, waterfalls, mountains and even a tropical rainforest. Sound like the place for you? Keep reading for more information about moving yourself and your belongings to Puerto Rico.
What should I know about Puerto Rico before moving there?
Located in the Caribbean, the 3,500 square miles island and unincorporated U.S. territory of Puerto Rico is home to some of the world’s most beautiful landscapes and coastline.
According to World Population Review, the island has around 2,829,000 million people, making it larger than many U.S states. The website points out that if Puerto Rico were a full state, it would be the 29th largest in the U.S. The capital city of San Juan is also quite large. It is the most populous municipality in the Commonwealth of Puerto Rico.
The island is broken into 78 separate municipalities, each with its own mayor and elected officials. As far as languages are concerned, new residents should familiarize themselves with Spanish, which is the primary language spoken in Puerto Rico. However, many residents speak varying levels of English as well.
How do I move to Puerto Rico?
Moving to Puerto Rico is a major transition, but a doable one with some due diligence, preparation, and finding a reliable international moving company. The logistics of relocating to Puerto Rico include obtaining proper documentation and learning (and abiding by) customs regulations.
To enter Puerto Rico, you’ll need to have the following documents ready, so getting them together ahead of the move is a good idea:
- Completed U.S. Customs form
- Power of attorney (original)
- Photo ID (two copies)
- Bill of Lading (this is not a typo)
- Inventory (signed by owner)
- Freight bill (signed by owner)
If you bring cats or dogs with you, they will need a health certificate. Issued at the point of origin within 30 days, the certificate must state that animals have lived in an area that has not been under quarantine due to contagious, infectious or transmissible disease. You will also need a rabies certificate issued within six months (only if the animal is over four months old). Birds also require a health certificate that must state that the birds were found free of psittacosis or ornithosis.
When hiring an international moving company, expect to have answers to these questions:
- Establish the timeline: When do you need to be in Puerto Rico?
- Learn more about your real state plans: Will you be renting or buying?
- Determine your family/household size: Will you be moving alone or with your family? For business or personal reasons?
- Estimate the shipment size: What is the cubic footage of your belongings?
Shipping to Puerto Rico
Whether you’re using a moving container, a professional moving company or a package delivery service such as UPS or USPS to ship your goods, you should know that the process of sending items to Puerto Rico is similar to domestic shipping and moving. Given that the Commonwealth of Puerto Rico is an unincorporated U. S. territory, borders remain open, meaning customs clearance isn’t necessary for U.S. goods and shipments.
The only difference between shipping domestically and shipping to Puerto Rico is that extra paperwork is involved. The U.S. Census Bureau now requires an Electronic Export Information filing for each shipment to Puerto Rico or the U.S. Virgin Islands where an individual commodity exceeds $2,500 unless otherwise exempt from Federal regulations. All shippers can file this information online through the U.S. Census Bureau’s Automated Export System (AES). Shipments will also include a standard bill of lading with the declared value of items and a commercial invoice with a description of goods. Items are subject to an excise tax and must pass through the Puerto Rico Tax Department before being released and delivered back to the owner.
Also, keep in mind that your household items are subject to an excise tax and must pass through the Puerto Rico Tax Department before they can be released and delivered back to the owner. Items deemed non-essential will be taxed at a rate of 6.6 percent of the value declared by customers. Taxable goods would include most of your belongings, such as furniture, clothing, books, tech and telecom equipment, sporting goods, musical instruments, cameras, toys, electrical items, and more.
How much does it cost to move to Puerto Rico?
Okay, so you hired an international mover, now what? Next, get a quote for your international move. The cost of moving to Puerto Rico will vary considerably based on the cubic footage of your belongings and your proposed destination arrival time, so it’s important to get the most accurate quote so you can start budgeting for your international move.
When shipping household goods to Puerto Rico, is there anything I can’t bring?
Whether you’re using a mail carrier, a moving container or a moving company, be aware that certain items cannot be shipped or moved to Puerto Rico. According to the United States Postal Service, prohibited items include explosives, airbags, ammunition, gasoline, marijuana (medical or otherwise), narcotics, plants, livestock, endangered wildlife species and lottery tickets. Restricted items include firearms, alcohol and medication. Make sure to check with your specific carrier for additional restrictions.
How do I ship my car to Puerto Rico?
International car shipping involves figuring out how to transport a car overseas in a way that makes the most sense for your move and your budget. While it’s not cheap, it’s more cost-effective than buying a new car in most cases. You can check out Moving.com’s guide to international car shipping to start the process.
First, remember that many moving companies that ship household goods to Puerto Rico are not licensed to ship vehicles. Second, you’ll need to pay the excise tax based on the value of your car. You cannot have any personal items in your car while your car is in transit.
To transport the car to Puerto Rico, you’ll need several documents, such as the originals of the title and registration, a copy of your driver’s license, a copy of your Social Security number, your new address in Puerto Rico, a notarized letter from lienholder showing VIN, model and make, a customs form, and a certificate of compliance with U. S. Federal EPA and DOT regulations.
Getting your vehicle to Puerto Rico is only the first step. Next, you’ll have to get a driver’s license in Puerto Rico within 30 days of arrival and register the car. If you have a valid U.S. driver’s license, requirements for a license in Puerto Rico include an eye exam, a written exam and a fee. You can make an appointment with the local Department of Motor Vehicles called CESCO online to ease the process. The car registration will have to happen with the Department of Transportation.
What are the pros of living in Puerto Rico?
For many, the pros of living on this majestic island far outweigh the cons. If you’re trying to decide whether or not to make Puerto Rico your new home, check out these pros below.
- Say goodbye to cold winters and hello to year-round sunshine. Puerto Rico residents enjoy warm, wonderful weather throughout the year. Do you know what else this means? A very long and sunny Christmas season and flip-flops and sandals all year round!
- Are you worried about shopping? You’ll find many popular U. S. stores, such as Walmart and Costco in Puerto Rico.
- It’s a great place to practice your Spanish. If you’re looking to learn a new language (while also still being able to communicate in English), Puerto Rico is the perfect place to hone your Spanish-speaking skills.
- Puerto Rico’s ideal weather and abundance of attractions mean that residents can enjoy outdoor activities all year long. Popular activities include fishing, boating, surfing, biking, hiking and diving.
- Tired of paying taxes? Many individuals and businesses move to Puerto Rico to avoid taxation. Puerto Rico’s corporate tax rate is officially 37.5% but can be as low as 0% for some types of businesses. And a business-to-business service company that sells its services to the U.S can expect to pay a 4% corporate tax rate (compared to 21% in the States).
How much does it cost to live in Puerto Rico?
In general, the cost of living in Puerto Rico is considerably lower than in the United States. Numbeo reports that consumer prices are 5.4 percent higher in the U.S, rent prices are 133 percent higher in the U.S. and restaurant prices are 25 percent higher in the U.S.
Are you looking to rent or purchase a home? Puerto Rico has plenty of affordable options compared to the U.S. real estate market. Numbeo notes that the average rental price of a one-bedroom apartment in a Puerto Rico city is $582 per month, while the average rental price of a one-bedroom apartment in a United States city is a whopping $1,373 per month. The website also points out that homes in Puerto Rico cost around $170 a square foot. Compare that to the U.S. average of $330 a square foot, and you can see how much cheaper it is to own a home in Puerto Rico.
Any advice for moving with kids to Puerto Rico?
Moving with children isn’t easy – particularly when you’re moving as far away as Puerto Rico. For advice on moving with kids, check out these tips below.
- Make a trip to your pediatrician’s office before moving to Puerto Rico. Children may need to receive certain shots and vaccines before the move. You’ll also want to research local doctors in Puerto Rico and have all medical records transferred.
- Research schools in your new home before the move. Keep in mind that many schools may speak Spanish as a first language. To enroll your child in the new school, contact an administrator for details and have all transcript records sent over.
- Visit the school and new city in person before the big move. This will give your family a lay of the land and help prepare your children for the move.
- Enroll your child in Spanish classes. While many people in Puerto Rico are bilingual, it doesn’t hurt to teach your child a bit of Spanish before the move. It’s also a great way to expand their minds and prepare them for the real world.
- Try to find other parents in the area who have also recently moved. Finding friends and playmates for your children will help them adjust to the move more quickly. In addition, a group of like-minded parents in your new home will be a great source of advice and guidance for you and your family.
- Help them stay in touch with old friends and classmates. Encourage your children to write, email and call old friends. This may help alleviate homesickness and feelings of isolation.
- Explore the island as a family and tour Puerto Rico’s main attractions. There’s so much to see and do while living in the Commonwealth of Puerto Rico. From surfing the waves to hiking in the rainforest, encourage your children to view the move as one big adventure.
What are the top attractions and things to do in Puerto Rico?
From the country’s unique architecture and vibrant nightlife to its picture-perfect beaches and lush forests, there’s plenty to see, do and explore in Puerto Rico. Several top attractions include El Morro, Flamenco Beach, El Yunque National Rainforest, Fort San Cristóbal, Calle Del Christo, Condado Beach and Museo de Arte de Ponce. Visitors and residents will also enjoy exploring Old San Juan on foot. The area’s colorful buildings and cobblestone streets are home to some of the best shops and eateries around.
Ready to move to Puerto Rico?
Planning an international move can be stressful, but it doesn’t have to be. Thanks to our network of reputable and reliable international movers, finding the right company to handle your relocation to Puerto Rico is a cinch. We vet all movers for key certifications, capabilities and insurance. Under federal law, our movers are also licensed and bonded with the U.S. Federal Maritime Commission(FMC), so you can rest assured that your move abroad will be in good hands. Best of luck and happy moving!
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You’ve been to puerto rico twice on vacation.
You were in Puerto Rico twice, on vacation.
American citizens are free to move to Puerto Rico without the need to produce any new documents such as work visas.
American citizens are free to move to Puerto Rico without having to present any new documents such as work visas.
Spanish generally few people know, as they relate to Puerto Rico .
Very few people know Spanish at all, since they refer to Puerto Rico .
He wants the federal government to apply bankruptcy law to Puerto Rico as though it were a state.
He proposed that the federal government apply Bankruptcy Law to Puerto Rico as if the island were a state.
I am going to Guayaquil, to catch the first plane to Puerto Rico .
I’m going to Guayaquil… To take the first plane to Puerto Rico .
They will not however ship to Puerto Rico .
He wouldn’t go0252 in Puerto Rico .
Just like you paid for that trip to Puerto Rico .
How did you pay for that trip to Puerto Rico .
The patient went to Puerto Rico a few months ago.
The patient traveled to Puerto Rico a couple of months ago.
If we have to go to Puerto Rico , we will.
If we have to go to Puerto Rico we will go.
I haven’t talked to her since she went home to Puerto Rico .
I haven’t spoken to her since she left home in Puerto Rico .
His partner retired to Puerto Rico in ’06.
His running mate retired in ’06 and left for Puerto Rico .
And in two days I’m off to Puerto Rico .
And in two days I’m flying to Puerto Rico .
They too were sent to Puerto Rico .
They were also delivered by to Puerto Rico .
They had also questioned the political and economic implications of the applicability of federal law and jurisdiction to Puerto Rico .
In addition, they questioned the political and economic implications of federal laws and jurisprudence in Puerto Rico .
The bees were brought to Puerto Rico by the church and the early priests and conquistadors.
Bees were brought to Puerto Rico by churches, priests and conquistadors.
It is now on its way to Puerto Rico .
He is currently heading in Puerto Rico .
Dozens of entrepreneurs, made newly wealthy by blockchain and cryptocurrencies, are heading en masse to Puerto Rico this winter.
Dozens of entrepreneurs who made their fortunes using blockchain and cryptocurrencies are heading en masse to Puerto Rico this winter.
They have also been taken to Puerto Rico .
They were also delivered by to Puerto Rico .
From these islands they sailed southwest in an apparent attempt to circle around Cuba and return home to Puerto Rico .