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Law 20 - Export Services Law
Companies that provide services such as accounting, development, public relations, and research can export their services from Puerto Rico and obtain tax benefits, such as zero federal taxes, a fixed 4% corporate tax, tax exemption on dividends from export services, and taxes on the property. The decree will be valid for at least 20 years. To be eligible, the company must not be related to any type of commercial activity in Puerto Rico.
Law 22 - Law of Individual Investors
New residents of Puerto Rico receive full exemption from local income taxes, 100% exemption from dividends, interest on capital gains, and exemption from federal taxes on income generated within the island.
Law 60 - Puerto Rico Incentives Code
Law 60 replaces Law 20 and 22, from January 2020. It combines the previous laws and introduces significant changes related to employment, eligible businesses, tax exemptions and municipal contributions. Exempt businesses can enjoy up to a 75% exemption on state and municipal property taxes. Qualifying small businesses can enjoy up to 100% exemption from city and state property taxes for the first five years. For individuals, a charitable donation to any Puerto Rican charity and purchase of your primary residence on the island is required. The decree is granted for 15 years, and can be extended for an additional 15 years.
Opportunity Zones Law
Opportunity Zones were designated as part of President Donald Trump's tax reform and offer a reduction from 37.5% to 20% in the federal tax rate for funds that invest in "low-income communities." Almost 96% of Puerto Rico is located within the areas designated as Opportunity Zone. To develop the Opportunity Zones, the Government of Puerto Rico promulgated on July 1, 2019 Law 21 (“Puerto Rico Economic Development Opportunity Zone Development Law”), which establishes the regulatory framework for development in Opportunity Zones on the island, under the new United States tax law of 2017. The Law provides tax exemptions to Opportunity Zone Funds (“ZO Fund”) or entities where a ZO Fund invests (“ZO Subs”), committed with eligible investments in designated Opportunity Zones in Puerto Rico.
Direct Buyer Assistance Program - CDBG
Owning a home is an out-of-reach dream for many low- and moderate-income Puerto Ricans. The Direct Home Buyer Assistance (HBA) Program awards up to a maximum of $55,000 to non-home buyers at the time they apply for assistance from the Direct Home Buyer Assistance Program.
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- Our Company:
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eXp Puerto Rico - Independent Broker
- #52 Covadonga, Old San Juan 00901
- (939) 545-8286 (939) 545-8348
- info@juancollazo.net