Should I move to Puerto Rico to pay less tax?

From time to time, clients anticipating the sale of their business or other large liquidity events will ask me about the Puerto Rican tax regime and the potential tax benefits of moving there. For those willing to actually move there and for those who can develop or transfer their income to Puerto Rican-sourced income, the tax savings can be incredible. Here is a helpful article in Forbes found here that discusses the pros, cons and traps.

If this is a topic that is or will be germane to you, please reach out to our Client Services Manager, Suzanne Roberds (sroberds@privatewealthlawgroup.com), to set up a meeting to discuss your options.