Post: #51

(04-05-2017 07:03 PM)Coveyleader Wrote:  Rincon blows for chicks, it's full of washed up gringas.

A little ways from there is a place called Aguadilla, cool beaches, good surfing, and chicks there don't see gringos so much. I hiked up into a few playas, met chicks on the way, was a great time.

San Juan, chicks are brutal. Doable, but it's not my flavor.

Weren't you there with your wife and kid? Daygame with family in tow? now that's a dog!

Post: #52

thinking about going to PR, how is the electricity there? Many hotels are still closed but it seems like a good deal for some places that are open

Post: #53

(12-18-2017 12:24 AM)jcrew247 Wrote:  thinking about going to PR, how is the electricity there? Many hotels are still closed but it seems like a good deal for some places that are open

From what I've heard, electricity is basically up around the Island except for some mountain areas. Definitely the tourist parts of San Juan are up and running. I'd be surprised if huge tour ships are not already stopping by Old San Juan already. If they are not - then definitely go visit, since the huge cruise ship crowds kind of tax the charm of old San Juan.

Lots of the hotels still have some FEMA or feds staying there, but they are leaving or probably already gone, so hotels will want to get some new revenue quickly. Feel free to share with the forum what deals you find.

Post: #54

From reading through this thread, if it's a choice between PR and Colombia, Colombia wins hands down?

Post: #55

I'm about to move to San Juan. I've read several times that "money talks" in PR. I'm trying to decide between getting a baller pad or a standard 1br apartment. Typically I don't like blowing money on rent and have done fine just relying on my skills but if there's a significant game ROI with a baller pad in San Juan then I'll go for the upgrade. Which would you guys recommend?

Also what's the best way to find apartments? The options on the typical online sites are pretty sparse.

Post: #56

Dude the ROI in Puerto Rico is quite low. Better be baller in Colombia or Brazil

Post: #57

I know it’s not as good as Colombia or Brazil but PR is now the only place a wealthy American can live without getting tax raped so that’s where I’m going. So a baller pad in PR wouldn’t make a worthwhile difference?

Post: #58

delineator, Puerto Rico is not some pussy paradise for rich Americans the same way Colombia or another similar country is. Unless you are Latino or Puerto Rican, it will be tough to get with the high quality, wifey-material Puerto Rican girls. Most of these girls do not go for Americans gringos, they prefer Puerto Rican men. There are a lot of local girls who like American guys, but these will not be the top tier girls and will most likely be gold diggers. Also, a lot of the top tier girls have already left to the US for work or school.

By the way, clasificado is the Craigslist for Puerto Rico and has tons of apartment listings on there. You can get a nice apartment on the beach in San Juan for dirt cheap! Best of luck, Puerto Rico is a great place regardless if you end up there to game girls.

Post: #59

Oilrig - thanks a ton! I’m moving there for the tax Acts so I only need to physically be present 183 days per year. I’ve been doing really well pipelining 7’s on tinder and the girls I’m talking to all said they’ve dated Act ** guys like it’s some kind of exclusive club but they did mention poorer Puerto Rican’s are p’d about it so I’ll be very careful mentioning that.

That classifieds site you mentioned is 100x better than every other source I’ve found - thanks again

Post: #60

You think I'd be able to pull from El San Juan Beach Club? Looks like there's some real talent there. https://www.facebook.com/profile.php?id=100015670718368

I'm a 5'11" fit gringo with above average looks. My friend hangs out there and says he does well but he tends to exaggerate.

Post: #61

Delineator if you’re going for the tax incentives then I think you have the right idea! I know a few Americans like yourself who relocated there for the same reasons and are having a blast in PR. The girls are an added bonus.

I’ve never been to that el San Juan beach club but it looks awesome! I’ve hung out at the pool there a few times and there’s always nice talent, tourists and locals. Club brava in that hotel is also the best nightclub in PR. Although I heard the hotel was damaged during the hurricane and still closed, so who knows.

Post: #62

I wouldn't be surprised if the tax situation in PR changes after the recent storm debacle.

PR being a low-tax haven is partly the cause for their enormous debt and infrastructure problems. Choose wisely.

Post: #63

(12-29-2017 07:44 AM)Dulceácido Wrote:  I wouldn't be surprised if the tax situation in PR changes after the recent storm debacle.

PR being a low-tax haven is partly the cause for their enormous debt and infrastructure problems. Choose wisely.

I have heard the same sentiment around the web. I'm just going to take the risk... there aren't many other options for mitigating taxes as a U.S. citizen anymore plus the downside is I get to live in the Caribbean and pay normal taxes which isn't too bad.

Post: #64

(12-29-2017 09:11 AM)delineator Wrote:  

(12-29-2017 07:44 AM)Dulceácido Wrote:  I wouldn't be surprised if the tax situation in PR changes after the recent storm debacle.

PR being a low-tax haven is partly the cause for their enormous debt and infrastructure problems. Choose wisely.

I have heard the same sentiment around the web. My goal is to do this for a year and sell the business in 2019 q1. If the programs do stay in place then it would significantly reduce taxes on the sale proceeds as well. I'm just going to take the risk... there aren't many other options for mitigating taxes as a U.S. citizen anymore.

Well... Not really. I guess it depends on your level of risk/award. Have you checked out more sovereign nations that are tax havens opposed to PR or would your business plan not support Asia?

There are other tax havens in the Caribbean that are not US territories. But, I suppose it doesn't matter if you're going to sell in 2019. Unlikely the government can instill tax-effecting legislation until then.

Then again, Trump just pushed our tax plan through in 3 months... I'm just saying there are more options. I dunno, Man. The US is in political turmoil. I think if my business could go anywhere--I'd either keep it here with the new tax benefits or move to a place that wasn't a commonwealth and taxes are more predictable.

What if you do all this work, your business is banging, and you decide not to sell in 2019? Then, after your business is well established, the tax situation changes. Wouldn't you rather do that in another place where your hard work stays in place?

Post: #65

(12-29-2017 09:20 AM)Dulceácido Wrote:  Well... Not really. I guess it depends on your level of risk/award. Have you checked out more sovereign nations that are tax havens opposed to PR or would your business plan not support Asia?

Tax reform has made all foreign entities basically pass through entities except without the new domestic pass through deduction. I know because I currently own a foreign corporation in a tax haven. My tax attorney is the guy from ustax.bz who is probably one of the top experts in the world on this and he said the party is over for foreign entities. That's why the U.S. territories are the best options now but some are far more under the IRS radar than PR which is why I chose it.

Post: #66

(12-27-2017 11:57 PM)delineator Wrote:  Oilrig - thanks a ton! I’m moving there for the tax Acts so I only need to physically be present 183 days per year. I’ve been doing really well pipelining 7’s on tinder and the girls I’m talking to all said they’ve dated Act ** guys like it’s some kind of exclusive club but they did mention poorer Puerto Rican’s are p’d about it so I’ll be very careful mentioning that.

That classifieds site you mentioned is 100x better than every other source I’ve found - thanks again

I'm moving there soon for the same reasons.

Could the tax act change? Sure but 183 days is nothing compared to the risk/reward and long term thinking.

The good thing about politics is that change takes a long time. Moving there ASAP will be the best bet to capitalize on the tax incentive and get grandfathered in.

Post: #67

My question: how are the PR girls / nightlife going to be in 2018-20 compared to 2017? It currently sounds rough because the hurricane accelerated the exodus of cute girls to the mainland. However, perhaps it will bounce back quickly?

As with some of the other guys on this thread, I'm considering moving my tax domicile to PR due to the tax savings. That's what makes it interesting compared to Ukraine, Brazil, etc.

If my fund stays domiciled in California, my tax rate might be high as ~60%. If I move my domicile to PR, it will be 0% (Act 22) without requiring me to renounce my US citizenship. Further, I could spend as little 1-4 months in PR provided I spend more time in PR than any other country (Tax Home Test). If I just moved to Colombia or the Czech Republic, I would still have to pay US taxes (~43% for my fund).

As previously mentioned in this forum, I visited PR for a week in April 2017. Nightlife seemed great (La Placita, Calle San Sebastian, Blue Martini). El San Juan Beach Club was decent during the day. Mall day game (my specialty) was a step down from Santa Monica, but the girls' enthusiasm somewhat offset the lower volume. Although many girls in their 20s had emigrated, there were still many tourists, MILFs and university students. Further, the scene is supposedly better from December through February due to peak tourism and emigres returning home for the holidays.

However, friends that were there in January 2018, say it's not the same now. Further, the options currently look awful on Tinder and Bumble. I think I swiped through the whole island in 45 minutes without seeing much. But I'm not an online dating expert, so maybe that's not a good barometer of what the nightlife will be like. I have feeling I'm going need to visit again to know for sure.

Thanks for your help!

Post: #68

@delineator, @joshbar

Do you guys have boots on the ground? Any reports? I am considering PR for Act 22.

Please let us know how it's going, or if you decided to go elsewhere.

Post: #69

I land on March 20th for my second scouting trip. Wish me luck.

Also, what wrote in my previous post is slightly incorrect. In a particular year, to preserve the tax benefits, I would not need to spend more time in PR than any foreign country. However, I would probably need to spend more time in PR than the US. For example, in 2019, I could spend 3, 3 and 6 months in PR, California and Moscow respectively. In 2020, I could spend 3, 3 and 6 months in PR, California and Colombia respectively.

Post: #70

(02-26-2018 07:09 PM)redbeard Wrote:  @delineator, @joshbar

Do you guys have boots on the ground? Any reports? I am considering PR for Act 22.

Please let us know how it's going, or if you decided to go elsewhere.

I've been in San Juan since December. It's definitely a lot more difficult here than any major city in the states. Online dating prospects are very weak so you'll need solid night or day game. Pulling from La Placita on the weekends is the easiest method but Puerto Ricans party hard so you're going to be staying out until 4-5am just to separate her from her friends to take home.

My primary hobby is working on my business so women are a just a side interest. I'm just going to date easy gold diggers to keep my time investment down. I'll save over 7 figures in taxes here over the next 2 years so I have no problem putting up with the tougher gaming environment. The brain drain here is real - all intelligent and motivated young people move to the states so what's leftover is the dumb ones. You are more than likely not going to find an intellectual equivalent here unless it's a gringa expat also doing the tax acts. Lots of unbelievably curvy Latin booties prancing around in thong bikinis though which is the number one upside besides taxes.

Post: #71

The new Republican tax act pushes PR into a "foreign country" status, with a high tariff like tax treatment of 12.5% on new "intellectual property income" affecting the important pharmaceutical companies that have made it a home for manufacturing.

Consequently, in addition to onerous debt and hurricane recovery challenges, PR faces a coming employment depression that will hit the island perhaps just as hard.

That's the headline news from this piece in January drawing on a Bloomberg News story and CNBC interviews. I'll excerpt it:

Quote:Not only is the Puerto Rico government carrying over $70 billion in Puerto Rico debt and $40 billion in unfunded pension liabilities, but the recent tax bill just signed by President Trump has called for a 12.5% tax on intellectual property income made by companies operating in Puerto Rico.

After being battered a few months ago by Hurricane Maria which devastated the Island Commonwealth’s power infrastructure, Puerto Rico is continuing to take hits financially. The tax bill would make it less attractive for companies in Puerto Rico to stay there, thus adding another blow to the economy.

“We’re pretty much just getting ready for Maria Part 2,” according to one economist in Puerto Rico, quoted recently by CNBC.

Puerto Rico is desperate for any source of revenues to sustain itself, but the tax provision is likely to hurt its economy and stifle any investment in the island by manufacturing companies.

Indeed, the new tax plan will cause a tremendous amount of pain for the island.

“The final version of the Republican tax plan would end some of the tax advantages companies with operations in Puerto Rico have long enjoyed, potentially delivering an economic blow to the territory still reeling from Hurricane Maria and a record setting bankruptcy,” according to a report this month on Bloomberg News. “One tax expert said that under the new rules subsidiaries of U.S. companies based on the island would be treated as foreign, subject to a tax from income derived from intangible assets held offshore.”

https://seekingalpha.com/article/4135157...eep-coming

This ought to further depress property values, and until there's an adjustment, keep economic growth away for much longer.

Post: #72

There is a fresh new and very enlightening podcast-interview (posted on March 15th), with a lawyer based in the US Virgin Islands about PR and how to take advantage of Acts 20 and 22 to shelter investment income.

For noobs, pay attention to minutes 8 thru 13, where Marjorie Roberts (JD) discusses the FIVE ways one can meet the bona fide residence test in Puerto Rico, and thereby escape the IRS and the 50 US State's more onerous tax burdens. Certain one's are better for the digital nomad than others. (Below the podcast controls, also find the helpful time-stamp outline for the entire show to locate answers to particular subjects.)

"ILAB 88 - Structuring Tax Free Income, Puerto Rico Act 22 – Jorie Roberts"

http://investlikeaboss.com/ilab-88-struc...e-roberts/

Of all the sources on Puerto Rico and Acts 20 and 22 I've seen, this (above) and a long one - "Puerto Rico Unique Tax Solutions-Oct16-Nick Giambruno et al, Doug Casey's International Man" - are the most detailed: http://www.taxlawsolutions.net/wp-conten...ico-SR.pdf

Post: #73

(03-27-2018 09:55 PM)Orson Wrote:  There is a fresh new and very enlightening podcast-interview (posted on March 15th), with a lawyer based in the US Virgin Islands about PR and how to take advantage of Acts 20 and 22 to shelter investment income.

For noobs, pay attention to minutes 8 thru 13, where Marjorie Roberts (JD) discusses the FIVE ways one can meet the bona fide residence test in Puerto Rico, and thereby escape the IRS and the 50 US State's more onerous tax burdens. Certain one's are better for the digital nomad than others. (Below the podcast controls, also find the helpful time-stamp outline for the entire show to locate answers to particular subjects.)

"ILAB 88 - Structuring Tax Free Income, Puerto Rico Act 22 – Jorie Roberts"

http://investlikeaboss.com/ilab-88-struc...e-roberts/

Of all the sources on Puerto Rico and Acts 20 and 22 I've seen, this (above) and a long one - "Puerto Rico Unique Tax Solutions-Oct16-Nick Giambruno et al, Doug Casey's International Man" - are the most detailed: http://www.taxlawsolutions.net/wp-conten...ico-SR.pdf

Thanks for posting that Orson.

I've been looking at Puerto Rico for some time. The one thing that really held me back was having to be on the island for 6 months. I did read about the other rules but thought I had it wrong since most of the information out there always mentioned you needed to be there for 6 months.

Post: #74

For all the reasons I listed above, I'm moving my tax domicile to Condado at the end of the month. Gaming abroad while paying no taxes (Act 22) is just too good of an opportunity to pass up.

Feel free to him me up if you're in town.

Post: #75

(03-13-2018 05:21 PM)delineator Wrote:  

(02-26-2018 07:09 PM)redbeard Wrote:  @delineator, @joshbar

Do you guys have boots on the ground? Any reports? I am considering PR for Act 22.

Please let us know how it's going, or if you decided to go elsewhere.

I've been in San Juan since December. It's definitely a lot more difficult here than any major city in the states. Online dating prospects are very weak so you'll need solid night or day game. Pulling from La Placita on the weekends is the easiest method but Puerto Ricans party hard so you're going to be staying out until 4-5am just to separate her from her friends to take home.

My primary hobby is working on my business so women are a just a side interest. I'm just going to date easy gold diggers to keep my time investment down. I'll save over 7 figures in taxes here over the next 2 years so I have no problem putting up with the tougher gaming environment. The brain drain here is real - all intelligent and motivated young people move to the states so what's leftover is the dumb ones. You are more than likely not going to find an intellectual equivalent here unless it's a gringa expat also doing the tax acts. Lots of unbelievably curvy Latin booties prancing around in thong bikinis though which is the number one upside besides taxes.

Awesome, I'm planning on going to PR. Is everything fixed after the hurricane? Looked at it last fall and alot of hotels were still shut down. What type of tourists visit PR, is it just american girls or european girls?