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A comment on Millennials returning to Puerto Rico, launching startups. Parent comment

Re:Millennials returning to Puerto Rico, launching startups by huac on Sunday August 06, 2017 @02:02AM (#14939988)
"To qualify, an individual must not have been a resident of Puerto Rico within in the last 15 years."

It seems that "returners" don't qualify for that. Maybe it's just the amazing Puerto Rican food (I'd eat every meal at La Casita Blanca if I could).

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Re:Millennials returning to Puerto Rico, launching startups by true_religion on Sunday August 06, 2017 @06:29AM (#14940740)
The Forbes articles is confusing.

The article is in reference to (but doesn't mention) the "Individual Investors Act (Act 22)"[1], which exempts you from Puerto Rico's own income tax, and limits your IRS liabilities for capital gains tax on long term investments sold within the first ten years of your residency.

Regardless of if you take advantage of the above, you are exempt from Federal taxes.

This is just an incentive atop it.

[1] http://businessinpuertorico.com/en/profit/individual-investo...

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Re:Millennials returning to Puerto Rico, launching startups by mtremsal on Sunday August 06, 2017 @11:31AM (#14941684)
I ate at La Casita Blanca earlier this week and was blown away by pretty much anything I tried, as well as the friendliness of the owner and the beauty of the herb garden. First time in PR; the restaurant was a highlight in a week filled with great food, striking architecture, and lovely people. I can definitely see why people would move there outside of tax considerations.
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