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Puerto Rico Relocation Guide for Act 60 (Formerly Act 20/22) By: Prelocate - Visit RelocatePuertoRico.com For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 1 Visit RelocatePuertoRico.com or e-mail [email protected] Disclaimer The following content has been prepared for informational purposes only. It is not intended as, and does not constitute, legal advice nor tax advice nor the solicitation of any prospective client, and Prelocate, LLC, does not have any obligation to update any of the information contained herein. For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 2 Visit RelocatePuertoRico.com or e-mail [email protected] About Prelocate We started Prelocate to provide individuals and small businesses the knowledge and services they need to relocate to Puerto Rico. When moving to Puerto Rico ourselves, we were buried in a process that was difficult to understand and required dozens of hours of research, not to mention the added costs of professional services to clear things up. We believe that living and working in Puerto Rico is a tremendous opportunity that shouldn’t be overlooked due to cost, disjointed information, and an overall lack of clarity. Our goal is to enable and empower you to make a sound decision about whether Puerto Rico is right for you. If it is, we will make it happen for you in a straightforward, accurate, and economical way. We speak for the community in that we hope you join us here in beautiful Puerto Rico. CLIENTS FROM 25 STATES WE WORK WITH CLIENTS ACROSS THE U.S. For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 3 Visit RelocatePuertoRico.com or e-mail [email protected] Our team Travis has operations experience within complex, rapid-growth, technology startup environments. Prior to Prelocate, Travis was an early employee and General Manager at Uber, helping to build out vehicle financing products and developing the driver network across the Southeast U.S. While at Uber, Travis gained significant experience building and scaling sustainable businesses, pioneering new markets, developing strategic partnerships, and creating policies and procedures. Travis was also previously employed with the consulting firm Accenture where he worked with various Fortune 500 Companies. Travis has volunteered with Technoserve in West Africa, and has experience in real estate. Travis holds a B.S. in Business Administration from the University Travis Lynk of North Carolina at Chapel Hill. Managing Partner Mike has extensive private equity investment, business diligence, management consulting, and entrepreneurship experience. Currently Mike is a Managing Partner at EB5 Affiliate Network, where he leads project strategy, investments, and business structuring. Mike previously worked for AEA Investors, a leading middle-market private equity firm with $6B under management. Mike was previously employed by the Boston Consulting Group, one of the top management consulting and business strategy firms in the world where he worked directly with Fortune 500 Companies. Mike is also a Forbes Magazine 30 Under 30 National Winner for Social Entrepreneurship. Mike holds a B.A. in Economics and B.S. in Business Administration from the University of North Carolina at Mike Schoenfeld Chapel Hill. Managing Partner Sam has extensive real estate development, management, financing, and brokerage experience in Florida, Pennsylvania, California, Georgia, and internationally in the People’s Republic of China. Currently Sam is a Managing Partner at EB5 Affiliate Network, where he leads project strategy, investments, and business structuring. Sam was also previously employed by the Boston Consulting Group, one of the top management consulting and business strategy firms in the world where he worked directly with Fortune 500 Companies. Sam is also a Forbes Magazine 30 Under 30 National Winner for Social Entrepreneurship. Sam holds a B.A. in Economics with a concentration in Mandarin Chinese from Yale University, a Certificate in Financial Accounting from the London School of Economics and Political Science, and an M.B.A. from the Stanford Sam Silverman Graduate School of Business. Managing Partner For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 4 Visit RelocatePuertoRico.com or e-mail [email protected] Our team Pilar, a licensed New York attorney specializing in immigration matters, gained valuable experience working with government agencies and completing petitions/applications on behalf of her clients before moving back to her native Puerto Rico in 2018. She has also volunteered with Safe Passage, an organization that links unaccompanied minors to pro bono legal representation. In addition to Prelocate LLC, Pilar works for EB5AN Management and Consulting LLC. She holds a B.A. from the University of Puerto Rico, Rio Piedras, and a J.D. from New York Law School. Pilar Rivera Operations Manager Gisela has over seven years of experience working on the business administration & management field. She has held positions in the legal, manufacturing, and international logistics industries. Gisela relocated to Puerto Rico six years ago and has experience helping companies & individuals successfully relocate to the island. She holds an AA in Business Administration from Las Positas College in Livermore, California. Gisela Delgado Administrative Assistant For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 5 Visit RelocatePuertoRico.com or e-mail [email protected] Table of contents You can click to jump to a specific section or search the entire guide using CTRL+F. How to Qualify for Low Taxes in Puerto Rico • Our services • Why work with us • Why relocate to Puerto Rico • Act 60 (formerly 20/22) overview • Puerto Rico tax incentive list • Who has benefited from the tax incentives • Act 60 Export Services; move a business • Act 60 Investor Resident; move yourself • Act 60 Investor Resident; analysis of the tax treatment of capital gains and dividends • Act 60 compliance requirements • Why most businesses use a virtual mailbox • Prelocate virtual mailbox service • How to qualify as a bona fide PR resident • Act 60 charitable donation requirement • Schedule your free consultation Helpful Information About Life in Puerto Rico from Our Blog on RelocatePuertoRico.com Click here to skip to this expanded table of contents section with 100+ unique articles For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 6 Visit RelocatePuertoRico.com or e-mail [email protected] Our services Act 60 Export Services Act 60 Investor Resident Other Services Tax Application Individual Tax Application Price: Free Price: $1,395 Contact Us We advise you on the We advise you on and handle Your relocation to Puerto Rico Export Services Tax your Investor Resident will require additional application process Individual Tax application services, including a from start to finish. from start to finish. We handle registered agent, qualifying We save you time all aspects of application business address, local and money – law firms preparation: document hiring, relocation logistics, charge $10,000 to $15,000 gathering, government visits, and real estate. We can for the same service. As a notarizations, and payments. provide most of these Qualified Promoter with the We save you time and money services in house or connect PR government, we are – law firms charge $3,000 to you with a local specialist. mandated not to charge a fee. $5,000 for the same service. Process Overview Communi- Provide Assess Explain Prepare Submit cate with relocation candidacy compliance application application government support For Additional Free Resources & to Schedule a Free Consultation © Prelocate, LLC 2020. 7 Visit RelocatePuertoRico.com or e-mail [email protected] Why work with us Why choose Prelocate? Why work with Prelocate? About Prelocate • We have direct experience with • We started Prelocate to provide individuals and the problems we’re solving. We small businesses with the knowledge and services are Act 20 and Act 22 (now Act they need to relocate to Puerto Rico. When moving 60) recipients. to Puerto Rico ourselves, we were buried in a process that was difficult to understand and required • We’re dedicated to relocation. dozens of hours of research, not to mention the We’ve built templates that make added costs of professional services to clear things the process transparent and up. Our team spent 50+ hours searching through accurate. information, making phone calls to lawyers and • We’re well networked within the accountants, and creating the process to apply. Puerto Rico community, and we’re • The information and resources available were on the ground in Puerto Rico. inadequate. Applying is a systematic process that a • We help you however we can, company only has to go through once. We realized a which includes soft landing high-priced lawyer or accountant is NOT needed for support and referrals to accelerate most cases, and when they are needed, it’s for a your relocation. tactical portion of analysis. • We are not a law or accounting firm. We specialize in structuring and working through the process. For highly complex cases, we work with lawyers and accountants, but 90% of the time, a standard framework is sufficient. Recover Avoid Skip Save 40+ 5+ 5+ $1,000s hours questions bank visits in fees For Additional