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There's a special exception that will allow you to use the Puerto Rico tax benefits immediately upon moving there in certain circumstances, but this exception requires you to live in Puerto Rico for at least 3 years. Then, the capital gain must be Puerto Rican source capital gain.

An individual is considered to be a bona fide resident of Puerto Rico if three tests are met. The individual must be present for at least 183 days during the taxable year in Puerto Rico or satisfy one of the other four presence tests (the presence test).

By moving to Puerto Rico through one of the tax programs which require you to have NOT lived there in the last fifteen years you can take advantage of a 4% income tax rate, 0% dividend rate, and 0% capital gains tax rate. You and your business ACTUALLY need to move to Puerto Rico. It has to become your tax home.

Form 8867 must be completed by a paid tax return preparer responsible for a taxpayer's claim of the EIC, the CTC/ACTC/ODC, the AOTC, and/or HOH filing status; therefore, there may be multiple Forms 8867 for one return or amended return.

To be eligible for individual tax exemptions, an individual investor must have established physical residency in Puerto Rico for at least 183 days of the tax year and not have been a resident of Puerto Rico during the ten-year period preceding the effective date of the legislation (2009 to 2019).

Further, Resident Individuals must apply for and obtain a tax exemption decree under Act 60. To obtain access to the approved and signed tax exemption decree, a one-time fee of $5,000 must be satisfied and deposited into a special fund to promote the relocation of Resident Individuals to Puerto Rico.

An individual is considered to be a bona fide resident of Puerto Rico only if he or she satisfies all of the following three conditions: (1) physical presence test, (2) tax home test, and (3) closer connection test. A special rule applies for the year of the move.

For every tax return or claim for refund you prepare claiming the EITC, CTC/ACTC/ODC, AOTC or HOH filing status, you must: Complete Form 8867 based on information provided to you by the taxpayer or information you otherwise reasonably obtain or know.

Be present in Puerto Rico for a minimum of 183 days in the tax year. Spend at least 549 days in Puerto Rico during the 3-year period of the current tax year and the 2 preceding years, including at least 60 days in Puerto Rico during each tax year.

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Puerto Rico Due Diligence Groups

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How long do you have to live in Puerto Rico to not pay taxes?

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