Puerto Rico – Tax Paradise for Homeowners

Those who decide to purchase a house in one of the countries of the Caribbean, most often have to compromise: to put up with a bad infrastructure, unreliable telephone and postal ties, and even with the lack of electricity in the attracted bungalow. All these realities of life are present, for example, in Costa Rica, which "I" already wrote (see. "I" B 23 (182), with. 21). However, there is a place in this paradise region in which you can merge with nature, without breaking away from the benefits of civilization.

This island Puerto Rico.

Investors call this piece of sushi in the Caribbean Sea "The biggest secret" Western Hemisphere. Open it for itself to the orders interfere with stereotypes: many for some reason are sure that this is a raidman violence and drug business and that the word "Puertorikan" Otherwise, as in a criminal summary and is not used.

Small investors reason: Puerto Rico once is under the jurisdiction of the United States, it means that it is unreasonable to communicate with local real estate – inlapping taxes. It is better to invest in the neighborhood and solve the problem of communication with the outside world yourself.

Meanwhile, the special status of this territory is just creating all the conditions for a calm, comfortable and non-billion in financially life, which are looking for the buyers seeking in Caribbean Territories.

First, after the discovery of Columbus, the island belonged to the Spaniards for a long time, so the flavor of life in Puerto Rico what kind of Spanish, Caribbean, Latin American, – in short, which has to serene rest. But in no way "Status".

Secondly, thanks to the Town Stay under the wing of the United States, the local economy is now considered to be one of the most dynamically developing economies in the entire Caribbean region.

And finally the most important thing. Puerto Rico has its own constitution, and although its inhabitants are citizens of the United States, they have elected rights not in full. This discrimination is compensated by the fact that income taxes in the federal budget in the territory are not charged. Than not only indigenous islanders use, but also their numerous guests.

The opportunity attracted almost duty free to live and work, without leaving the space located under the protection of the American flag, many large and small firms open their branches here. Including those that have no relation to American capital.

It is estimated that it is 4-6 times more profitable here than the continent. Despite the fact that the products produced in Puerto Rico are marked "Made in the USA", And the local currency is the American dollar. And since the workforce here is almost twice as cheaper than in the United States (the average rates are $ 7.5 per hour against $ 13 on the continent), and federal taxes from funds earned in the territory of the island of funds, repeat, are not charged, most of the services and goods in Puerto Rico – cheap.

The government body responsible for attracting investments on the island – the Department of Economic Development (EDA), a better known under the informal name Fomento, – holds its campaigns not only in the US states, but also in the old world, Japan, Mexico, Costa Rica, Panama, Chile and in the Caribbean. This institution responsibly for the provision of comprehensive assistance to those who want to invest in the local economy.

For individual categories of investors, the method is widely used "Gingerbread". Various benefits are provided to those who discover the case in areas with a high level of unemployment, or employs more than 80 percent of the staff from the locals, or provides services that contribute to an even greater influx of foreigners (for example, insurance, consulting, or the introduction of high technologies and T. D.).

Another bait of Puerto Rico – the free trade zone (FTZ) has been successfully operating for 36 years. The center of one of them is the capital of San Juan, the other – more old – covers Mayaguez and two more "Subzones" – Humacao (on the Eastern Coast) and Barceloneta (North Coast).

Located at a distance of a two-hour flight from Miami, Puerto Rico – it’s more than just an island in the Caribbean Sea. European (according to Americans) The atmosphere, a sophisticated business community, clearly existing mail delivery services and telephone communications, which are divisions of the respective American services (AT&T, MCI, Sprint), create all the conditions for normal operation away from the mainland. Important and then in which environment you have to live and work. Locals, especially in the capital of San Juan, speak English freely (along with Spanish, he is the language of official and business communication), wearing the clothes of New York designers, dine in French restaurants and drive in expensive cars on four-row Highwemyes.

Americans who move to the island for "Self" here do not believe "Continental". Many people here and citizens of other states, most of which, when choosing a place of permanent or temporary residence, stop at the capital and popular cured areas near it – such as Guaynabo, Rio Piedras, Caparra and Condado, which are known for their friendly and informal atmosphere, upgrade nightclubs and shopping places. In the last life of Americanized by more than anywhere: hear Spanish speech in Condado almost does not have to. Villas here are a rare exception among multi-storey condominiums, buying housing in which is considered a rather profitable investment of dollar capital.

"Condo", As a rule, no less than 10 floors. There are many such complexes in the capital, and in its surroundings there are many, but the greatest concentration – in Isla Verde, whose beaches stretching for many miles are considered one of the best and most beautiful in the world. Since when calculating the sale price of any housing in Puerto Rico, the factor of proximity to the Ocean (Waterfront) is always taken into account, then housing in Isla Verde is quite expensive: buildings are located or directly on the ocean, or within walking distance. Good two-bedroom apartment with two bathrooms costs about $$ 150.000-200.000 (in less prestigious areas, similar accommodation can be bought for $$ 90.000-150.000). Particularly luxurious apartments can be one and a half – two times more expensive: from $ 200.000 to $ 450.000 and higher for housing with marble tiles under the legs, luxurious chandeliers above the head, 24-hour security, additional places in the underground parking and so on.

In most ordinary "Cooperative" Residential complexes have pools, parking for cars (at the rate of two places on the apartment), guarding in the dark, elevators that can only enjoy residents with a special key, electronic parking gates and other pleasant decorating life.

As for housing, more adapted for recreation, the bungalows and villas in Puerto Rico, of course, can cost more expensive than in some of the god forgotten American states, but for the Caribbean islands, prices can be considered quite acceptable, even in the capital.

For example, a house in a popular Aliens Rio Piedras with an area of ​​90 square meters (2 bedrooms, 1 bathroom) is evaluated quite reasonable – $ 78.000. Having $ 7.000 Over the named amount, you can afford an additional bedroom and a bathroom, while the area of ​​the house increases to 105 square meters. The plot can be quite small – at least six acres, which is quite natural: the earth on a small island, especially in the capital – a large deficit, asking for a lot of. For an additional piece of sushi, you will have to pay extra: a similar villa on twice the larger area is one and a half times more expensive.

As for real estate taxation, there is an extended system of benefits for homeowners in Puerto Rico. For this category, those who use the acquired housing are not to extract profits, but lives in it itself – the longer, the better.

Due to such "discount" Many owners of cheap housing (price below $ 100.000) taxes and do not pay at all, but with an average object price ($$ 150.000-200.000) can be separated by several hundred bills per year.

As for the our who cherished the dream to join the international rows of Puertoric residents, then attractive for everyone else "White people" Factor – namely, finding the island under the canopy of American democracy – can only complicate everything. Although Puerto Rico and the island of freedom, start the implementation of plans for the future will have to often kill the dream in the embryo of the United States Embassy.