Act 60 - Resident Investor
Act 60-2019 Section 2021.01 [Ex Act 22]
Effective January 1, 2020, the Puerto Rico Tax Incentives Code (Act 60-2019) consolidates, makes changes to, and eliminates the various legacy Puerto Rico incentives laws, including Acts 20, 22, 73 and 74. Interested parties can no longer apply for tax incentives under the old Acts.
Benefits
100% tax exemption on dividend income
100% tax exemption on interest income
100% tax exemption on capital gains
100% tax exemption on crypto currency
Term is until December 31, 2035.
Applicant must be a new resident in PR (not lived in PR during the past ten years)
Applicant cannot have another primary residence for tax purposes outside PR or a closer connect to another jurisdiction).
Resident must have a physical presence in PR for 183 days during the year (travel days – day of departure and arrival – are considered part of the 183 days).
Must open bank account in PR and purchase a home within 2 years.
Requirements
Applicant’s resume or curriculum vitae;
Evidence of a bank account in Puerto Rico financial institution. If Applicant has not moved to Puerto Rico, he or she must submit this evidence as soon he or she resides in Puerto Rico;
Criminal record of the Applicant, issued by the corresponding authority of the State or Country of last residence;
Copy of Social Security card. If Applicant is not a US Citizen, he or she must submit, in addition, a sworn statement to that effect, accompanied by copy of passport, visa or permanent resident card;
Copy of valid US Passport or Resident Visa;
Initial Government Fees:
1. $5,055.00 Initial Filing Fee
2. $105.00 Decree Acceptance Fee
3. $105.00 Start of Operations Notification Fee
Recurring Government Fees:
1. $10,000.00 Annual Charity commitment
2. $5,000.00 Annual Report Fee