Have you ever considered moving to a place where the weather is consistently pleasant and community is vibrant? Maybe you heard about the tax incentives that result from living on a special island in the Caribbean? Perhaps you are considering moving to Puerto Rico but you're not sure what you might experience besides tax exemptions?
You have come to the right place to learn more! I'll provide a brief overview of appealing tax incentives and a description of some of the beautiful cultural traditions of Puerto Rico.
Tax Incentives of Puerto Rico
Puerto Rico offers various tax incentives for many different industries, including in green energy, tourism, economic development, export services, individual investors, international financial center, among others.
Here are some of the highlights that stood out to me about the variety of tax incentives:
- 90% exemption on real property taxes and 100% on personal property taxes.
- 100% exemption on taxes on imported goods and sales tax
- Up to $5,000 for each job created during the first year of operation
- No federal taxes on Puerto Rico source income
Puerto Rico is SO MUCH MORE than an Investment Island
If you are not yet convinced if Puerto Rico is right for you, continue reading to learn more about other aspects of Puerto Rico. There's so much more that Puerto Rico has to offer!
Puerto Rico is a US Territory
Puerto Rico is rich in history and culture. Yes, Puerto Rico is a territory of the United States but it is flourishing on its own historical traditions and cultural celebrations. Puerto Rico is passionate and vibrant, to say the least.
Brief History of its People
Who are Puerto Ricans?
The first documented inhabitants of Puerto Rico were an indigenous group, the Taino, that lived on the island a thousand years before the Spanish colonized the Americas. Due to Spanish colonization and the bringing over of African slaves, Puerto Rico became a blend of Taino, African, and Spanish race and cultures. Now, Puerto Ricans are a beautiful, varied mixture of Europeans, Indigenous, and Black people.
Ware are the holiday celebrations in Puerto Rico?
Puerto Ricans love to celebrate! The mainland United States recognizes 10 government holidays each year while Puerto Rico has over 19 official holidays!
Puerto Rico has a huge celebration called "Fiestas de la Calle San Sebastian" also known as "SanSe" that takes place in the middle of January as a closing of the Christmas season. During this time, people sing "parrandas" or Christmas carols while gathering around people's homes.
The festive Christmas season is only one festival season of the island. Several celebrations are held throughout the year in different provinces and communities. You will also come across religious processionals and festivals
Floats, puppets, food, dancing, and music often accompany these festivals.
Music and Dance
What type of music and dance might you encounter in Puerto Rico?
Music is actually one of the most outstanding art and talent that Puerto Ricans pride on excelling at.
The music influence and sound is predominantly Caribbean and is played on handcrafted instruments such as the mayohuacán, the güiro, Puerto Rican cuatro, and tambours. You might even see the drums being played on the street as these instruments are frequently played outdoors for all to enjoy!
If you have heard of salsa music, then you have heard of "the rhythm of the islands!" Salsa dancing actually originated in Puerto Rican and Cuban communities of New York City but is widely popular on the island of Puerto Rico.
Reggaetton is also a predominantly music genre played, danced, and sang in Puerto Rico. Some of the most popular and famously acclaimed singers of reggaetton are from Puerto Rico and use the island, their culture, and their language as a main inspiration for their songs and catchy rhythms. Some of the most famous Puerto Rican reggaetton singers include: Daddy Yankee, Bad Bunny, Nicky Jam, Rauw Alejandro, Ozuna, Wsin y Yandel, amongst many others.
Other world-wide famous singers from Puerto Rico who excel in different music genres include: Marc Anthony, Ricky Martin, J-Lo (Born in New York to Puerto Ricans parents and culture), Bad Bunny, and Luis Fonsi amongst many others.
Lesser known dances, but not lesser in any other way are the bomba and plena. These Puerto Rican storied dances express the hardships that slaves and indigenous people suffered on the island. Some of the dances are attributed to certain holidays but you are likely to come across the vibrant attire of women wearing long, flowing skirts and men wearing large hats and sashes to match the women's skirts anytime of the year.
What's the weather like in Puerto Rico?
Puerto Rican residents enjoy pleasant, warm weather year round. The temperatures average between 80 to 85 degrees Farenheit (about 26 to 29 degrees Celsius). Although the forecast might predict rain every day, you will still also get your gorgeous blue skies if you wait for a bit. Truthfully, it rains somewhere on the island almost every day. Don't worry though, it usually doesn't last all day. Beach breezes and blue waters can keep you cool even on the hottest summer days.
Do I need to apply for a visa to live in Puerto Rico?
Because Puerto Rico is a US Territory, all Puerto Ricans are US Citizens by birth right, and as a US Citizen you do not need a special type of visa to travel or move to live or work in Puerto Rico. As in any other US state, US citizens can travel to Puerto Rico with a US drivers' licensed or US qualified ID.
Need help to Move to Puerto Rico?
I could go on forever about the beauty of Puerto Rico but I will stop here so you can go check it out for yourself. I will happily provide you all the information and guidance you need to make an informed and conscious decision when moving, investing, and retiring in Puerto Rico. I can help through the process of planning your tax outcome from the US to Puerto Rico and guide you on every step of your relocation. Book a consultation at the most convenient date and time for you and I will be looking forward to assisting you.