Posted on 03/26/2013 5:20:28 AM PDT by cll
Known for its white-sand beaches and killer rums, Puerto Rico hopes to stake a new claim: tax haven for the wealthy.
Since the beginning of the year, the island has gone on a campaign to promote tax incentives that took effect last year, marketing its beautiful beaches, private schools and bargain costs in an effort to lure well-heeled hedge fund managers and business executives to its shores.
So far, Puerto Rico’s pitch has attracted a handful of under-the-radar millionaires. Several American executives of mostly smaller financial firms say they have already relocated to the island, and Puerto Rican officials say another 40 persons, mostly from the United States, have applied.
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“There’s nothing wrong with spending 183 days a year on a sailboat or yacht and working from here,” said Alberto Bacó Bagué, the secretary of economic development and commerce for the island, in a telephone interview. “We’re catching up to Ireland and Singapore — you can shelter income legally, and legally in a good way.”
(Excerpt) Read more at dealbook.nytimes.com ...
Cyprus wannabe!
Cyprus has nothing on us. We went broke 10 years ago!
We can’t be broke- there are still checks left in our checkbook!
Saaaaalllute to Puerto Rico!
I was looking at western P.R. to retire to near Ramey/Crashboat, but the crime stats changed my mind.
What’s a check? They come in a book?
I kid but they are going the way of the phone booth, land lines, etc. For kids growing up now, phones never had a cord.
RE your tagline: It’s not Obamacare, it’s ObamaRobertscare. Roberts went all-in, he owns at least 50% of it.
And that is saying alot as the Ramey/Crashboat area are one of the safer areas on the island.
Roberts opened a bar in DC after his betrayal of the US Constitution. He calls it “Traitor John’s Bar and Grill.”
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