Search Results for: puerto rico

The best tax deal available to hedge fund traders and investment fund managers is Puerto Rico. There’s no tax holiday available anywhere in the world that can compete with the offer from Puerto Rico. Here’s how to setup and operate an investment fund tax free from Puerto Rico. First, let me explain why Puerto Rico

Puerto Rico has the best tax deals available to Americans… period. No offshore jurisdiction can compete with the US territory of Puerto Rico when it comes to cutting your taxes. This post will focus on Puerto Rico’s research and development and intangible property tax breaks. Act 73 is for those who develop licensed or patented

Once you have your Act 20 business in Puerto Rico up and running, you need to think about protecting its retained earnings or distributed profits. Asset protection for a Puerto Act 20 business  becomes urgent because of the amount of capital held in the company tax deferred. There are two levels of asset protection for

Here’s how to maximize the value of your Puerto Rico Act 20 business using the income sourcing rules. Maximizing Puerto Rico sourced income in an Act 20 business, and thus minimizing US sourced income, is the key to unlocking the 4% tax rate offered in Puerto Rico. The rule is simple: only Puerto Rico sourced

If you are thinking about coming to America, get ready for high taxes on your worldwide income. In this article, I will explain how to become a US citizen using the EB-5 Visa and Puerto Rico to pay near zero US taxes. The US taxes its citizens, as well as green card holders and residents,

Good news out of Washington for Act 20 businesses in Puerto Rico. It appears that the US has decided to allow Puerto Rico to reorganize its debts in some manner… not formal bankruptcy, but a restructuring with court oversight. The rules would be similar to Chapter 9 for municipal bankruptcies, with a few sections more favorable

Want to setup an offshore bank? Looking for an international banking license? Obtaining an offshore bank license and negotiating offshore correspondent accounts have become extremely difficult in every jurisdiction except one. The lowest cost offshore bank license is Puerto Rico. Yes, the US territory of Puerto Rico is the best island in the Caribbean to

The Puerto Rico tax deal is the inverse of the Foreign Earned Income Exclusion. Here’s why: With a Puerto Rico tax contract you can live in the US, your first $100,000 or so in salary is taxable, with rest deferred at 4%. If you live offshore and qualify for the FEIE, your first $101,300 is

In this post, I’ll explain why I believe Bermuda is the best jurisdiction for an international bank in 2024 and what’s required to build an international bank in Bermuda. This is a relatively new jurisdiction, with only one completed case as of this writing. But, I expect big things from Bermuda and for them to

10/29/2021 - 5:05 PM

The best “pure offshore” offshore bank license jurisdiction in 2022 is St. Lucia. Here’s what you need to know about opening an offshore bank in St. Lucia, including the capital, operations, correspondent accounts, etc.  If you’re thinking about opening a bank in St. Lucia, this is a must-read.  I say that St. Lucia is the

10/27/2021 - 2:51 PM

In this post, I’ll consider how much money you need to set up an offshore bank. This will consider multiple jurisdictions in the Caribbean, which are the traditional offshore banking centers. These are Puerto Rico, St. Vincent, and Dominica.  First, a few comments on why I’ve chosen these jurisdictions. The reason for Puerto Rico is

10/26/2021 - 2:37 PM

One of the most difficult aspects of life as an expat is banking. This is especially true for Americans who are persona non grata at most banks around the world. Plus, we have trouble opening and maintaining our US accounts if we are not in the country often. Here’s what expats need to know about

10/25/2021 - 5:59 PM

The United States has updated the list of countries with which it has a tax information exchange agreement. This is a list of countries that share bank account information with the US IRS to ensure global tax compliance of US persons. The US also shares information with foreign governments to ensure global tax compliance. That

10/15/2021 - 2:53 PM

In this post, I’ll consider where to live in Tijuana. I assume you’re an American that’s looking for a change of pace, or you’ve set up a business in Tijuana to leverage the lower cost of labor. With that in mind, here is where I suggest you live in Tijuana. By way of background, I’m

10/12/2021 - 2:00 PM

The Biden administration is giving all kinds of new powers to the IRS. If you have a US bank account, it’s time to stand up and take notice. If you’re operating an international business or are high net worth, the IRS is coming for your bank account.  A big part of Biden’s plan to raise