Nine Tax Facts about Puerto Rico Act 60 Requirements

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Puerto Rico Act 60 Real Estate Tax Incentives for individual investors is becoming increasingly popular among US persons looking to escape rising income and capital gain taxes in the Biden administration. Today you will learn the nine key facts about Puerto Rico Tax Incentives that you might not know.

00:00 Start
1:14 You can’t have lived there for the last 10 years prior
1:36 When you move, you must make an annual charitable contribution
2:14 You must buy a home within two years, but that’s good
4:03 Prices in Puerto Rico are going up, some doubling
4:18 You actually have to live there
5:31 You can’t arrive and sell stuff the next day tax-free
6:19 You need to sell it in Puerto Rico to get the tax-free
7:21 US still taxes you on worldwide income (cloud biz or cloud investment)
7:58 Foreign countries may still tax you on income there
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.