Yes, I am sure because I have looked into it, though it's not perfectly straight forward and requires some effort. Google "Puerto Rico Act 22 and Act 20"
there's no benefit to living in monaco for US traders. it's funny how americans have such a hard-on for the 2nd amendment cuz "muh gubernment tyranny" yet they're totally complacent with getting fucked in the ass by the big american dick everyday 1) most authoritarian and global-reaching tax regime in the world + taxed no matter where you are 2) healthcare costs that are out of control so no access to healthcare if you're not rich enough 3) cfds and retail forex closed to the little guys but hey, you have $10mil+? no problem! 4) police that act like they are a paramilitary force (search philip brailsford shooting on youtube, edited my post to remove link b/c it's NSFW) 5) CIVIL ASSET FORFEITURE 6) pay to play for college admissions is actually legal on a federal level 7) corporate money = free speech via citizens united 8) most advanced surveillance state in the world, both against its own citizens and abroad 9) can't even come to an agreement on something as straightforward as net neutraility because US continues to suck corporate dick rather than doing the most obvious thing 10) most authoritarian border control agents in the world who can detain you (yes, even american citizens) in isolation until you give up your phone/laptop and provide access to it with no legal recourse mmmmmhmmmmm gimme more of some of dat "freedom"....must be nice to be so free, sooooo freeeeeeeeeee
And I would add a Prez who was elected in a - who's "better" of two god awful choices - two party (bought and sold) election, claiming the opposition is trying to now overthrow him. Banana anyone?
You left this gem out. https://massprivatei.blogspot.com/2019/04/police-state-madness-cops-in-dui-vans.html
Well blow me down! "In January 17, 2012, Puerto Rico passed legislation making it a tax haven for U.S. citizens that become residents of Puerto Rico. The tax laws, known as Act 20, the Export Services Act, and Act 22, the Individual Investors Act, shields new residents residing in Puerto Rico for at least half of the year from paying most federal income taxes. The U.S. Tax Code generously exempts Puerto Rico sourced income from federal tax and, under the law, residents pay minimal or possibly no taxes on interests and dividends, as well as capital gains. Additionally, property taxes are significantly lower than property taxes in the mainland U.S. Thus, making Puerto Rico a mecca for exportation of international services worldwide." I did not know this. Thanks for the edumacation, sle. (And Puerto Rico wonders why they are not yet the 51st state of the union.)
As an alternative, I believe the US Virgin Islands offers the same or similar benefit benefit. Although living down there is like groundhogs day, not a bad place to spend time.
Would private trading be considered "Puerto Rico sourced income"? The law is likely intended to aid the PR economy.
I sure get the appeal of a tax haven but I also know first hand from living in Hawaii for a long time that very few people that tried to move to the islands lasted very long, Hawaii is a a lot easier to adjust to than PR and yet few stick around beyond 2 years due to culture shock & rock fever. PR has 42% living below the poverty line & has one of the highest murder/violent crime rates. The island was recently leveled by a hurricane & still has some damaged infrastructure. The power grid was always unreliable. PR is bankrupt - it may blow up over there soon into a revolution. Living in PR in an ex-pat area is painting yourself into a corner. You will get rock fever that much faster. If you can speak a bit of Spanish and think you like tropical islands then it may be worth it to pay $5,750 to get the approval in PR for tax act 22 and the expense of moving overseas. I knew a few girls from PR when I was in high school - they are super tough & could easily defend themselves from thugs trying to mug them. PR is a tough/desperate place outside of the resort areas. https://prbusinesslink.com/act-22/