Recently enacted tax breaks offer big benefits to managers of Puerto Rico hedge funds. The residents of this United States territory only pay U. S. Federal income taxes on income earned in the United States. To be a legal resident you must reside on the island for at least 183 days out of the year. This means that any income made on the island is tax free as far as federal income taxes are concerned.
The territory administers a tax system of its own that is separate from the United States federal tax laws. They had, until recently, a tax on dividends and interest of 33 per cent. They also had a tax on capital gains. These taxes have been eliminated. The purpose of these tax breaks is to attract businesses, entrepreneurs and capital to the island.
A major advantage that the territory has over other tax havens is that Americans do not have to give up their citizenship to benefit from the new tax laws. The campaign has already attracted investment firms to move their operations. The beautiful beaches and tropical weather is another incentive for moving there. It is not too big of a sacrifice to live on a beautiful tropical island.
There is a good infrastructure for telecommunications and other technologies already in place. The residents are well educated creating a pool for a good work force. There is none of the dangers that come from unstable foreign governments since the island belongs to the United States. It is a beautiful tropical island with great weather, restaurants and culture. It is a great place to live.
Before making such a major decision it would be wise to consult with your team of financial and legal advisers. Making a move like this is a big step that requires careful thought and planning. It is easy, however, to understand the benefits of using these new tax laws to your advantage. The island is just a short plane trip from the mainland. One could easily go back and forth.
The U. S. Virgin Island has favorable tax laws too. There are other nations located in the Caribbean and Latin America that are considered tax havens. However, it is easy to understand the advantages of doing business in a place that is part of the United States. There is a great amount of security and confidence that being a part of America engenders.
There is a wealth of information about tax havens on the internet. It would be worth time to learn all you can about tax havens before you made a decision. This is a complex decision that requires a lot of consideration. It requires the consultation with attorneys, accountants and other specialists.
Puerto Rico hedge funds and the financial services industries might want to consider migrating their business operations to this beautiful Caribbean island. Great incentives are created by the very generous tax code recently enacted. Use the advice of your attorneys and accountants to consider this exciting option.
The territory administers a tax system of its own that is separate from the United States federal tax laws. They had, until recently, a tax on dividends and interest of 33 per cent. They also had a tax on capital gains. These taxes have been eliminated. The purpose of these tax breaks is to attract businesses, entrepreneurs and capital to the island.
A major advantage that the territory has over other tax havens is that Americans do not have to give up their citizenship to benefit from the new tax laws. The campaign has already attracted investment firms to move their operations. The beautiful beaches and tropical weather is another incentive for moving there. It is not too big of a sacrifice to live on a beautiful tropical island.
There is a good infrastructure for telecommunications and other technologies already in place. The residents are well educated creating a pool for a good work force. There is none of the dangers that come from unstable foreign governments since the island belongs to the United States. It is a beautiful tropical island with great weather, restaurants and culture. It is a great place to live.
Before making such a major decision it would be wise to consult with your team of financial and legal advisers. Making a move like this is a big step that requires careful thought and planning. It is easy, however, to understand the benefits of using these new tax laws to your advantage. The island is just a short plane trip from the mainland. One could easily go back and forth.
The U. S. Virgin Island has favorable tax laws too. There are other nations located in the Caribbean and Latin America that are considered tax havens. However, it is easy to understand the advantages of doing business in a place that is part of the United States. There is a great amount of security and confidence that being a part of America engenders.
There is a wealth of information about tax havens on the internet. It would be worth time to learn all you can about tax havens before you made a decision. This is a complex decision that requires a lot of consideration. It requires the consultation with attorneys, accountants and other specialists.
Puerto Rico hedge funds and the financial services industries might want to consider migrating their business operations to this beautiful Caribbean island. Great incentives are created by the very generous tax code recently enacted. Use the advice of your attorneys and accountants to consider this exciting option.
About the Author:
Feel free to visit our website at www.movetopr.com to read the blogs that are posted about Puerto Rico hedge funds. Here is the homepage you need to check out on http://www.movetopr.com now.
No comments:
Post a Comment