So Very Hard to Go (Not)! In Pursuit of Puerto Rican Tax Incentives

Gerald Nowotny
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So Very Hard to Go -

The Commonwealth of Puerto Rico has had a hard time in the last ten years. PR has suffered a combination of devastating events including the Island’s bankruptcy, a hurricane and COVID19. The Puerto Rican government introduced an incredible tax incentive program in 2012 to attract investment on the Island. All the unforeseen obstacles got in the way in my opinion. In my view, the Number 1 problem, is that the business owner or investor cannot make the sale to the spouse to move to Puerto Rico. No one would ever turn their back on significant tax incentive programs but for the dilemma, “How do I convince my spouse to move?”

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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