You can contact us at Coll & Co. We can help you get started in moving to the island and answering any questions you might have about buying a property, insuring it, and living on the island.

You must also submit an application to the Office of Industrial Tax Exemption. They will analyze your application and determine if your business is eligible for act 60 tax status. This process is best done with guidance from a lawyer or tax professional.

Yes! In order to be accepted for act 60 benefits you are required to be a bona fide resident of Puerto Rico. This means you must live on the island for the majority of the year. You are still allowed to travel and stay in other places provided that you live on the island for the majority of the year.

Yes! There are several methods to do this.

• Move all profit generating operations to Puerto Rico and shut down said activities in the United States. This will typically maximize your tax savings by having as much of your profit taxed at act 60 rates.

• Establish a subsidiary or second company in Puerto Rico. The Puerto Rican companies would enter into an agreement with your existing companies where some profit would be transferred to the Puerto Rican company. This typically takes form through a management or consulting fee. This method will only allow some profits to be taxed at act 60 rates.

The list of approved industries is vast. Chances are that whatever business you operate or plan to operate fall into one of these provided categories. It’s important to note that any company can receive act 60 exemptions if they prove to be of sufficient economic importance to Puerto Rico and receive approval from the appropriate government entities. So, even if your industry or business isn’t in the list it is still possible to receive act 60 tax exemptions. Below is the full list of approved industries for your convenience.

(1) investigation and development;

(2) Marketing and Public Relations;

(3) consulting: economic, environmental, technological, scientific, general, marketing, Human resources, information and auditing;

(4) Consulting related to any Industry or commercial activity;

(5) Creative Industries Including:

Sale of tickets to tourists or people outside of Puerto Rico. This includes Income related to the transmission or sale of rights of recordings for sale outside of Puerto Rico, and the recordings of spectacles and musical production. E-sports events and Fantasy Leagues that take place in Puerto Rico;

(6) production of construction blueprints and plans, engineering and architecture services, and project management;

(7) Professional services including: legal, tax, and accounting services;

(8) Centralized management services including but not limited to:

Strategic planning and direction, distribution, logistics and cost analysis that take place in the headquarters or regional offices of companies that provide said services;

(9) Electronic Information processors;

(10) Software development;

(11) Physical distribution, online distribution, cloud based computing and distribution, blockchain technologies, and income derived from licensing, subscriptions or payment for service;

(12) Voice telecommunication, video, audio and data directed at people outside of Puerto Rico;

(13) Call centers;

(14) Shared Services including, but not limited to:

Accounting, finances, tax consulting, auditing, marketing, engineering, quality control, human resources, communications, electronic processing of data, and general management;

(15) Training and educational services;

(16) Hospital and laboratory services, including medical tourism and telemedicine facilities;

(17) Investment banking and other financial services including but not limited to:

(a) asset management

(b) alternative investment management

(c) activities related to the investment of private capital

(d) Hedge funds or high risk investment management

(e) pools of capital

(f) administration of trusts

(g) Escrow services

(18) Marketing centers that are primarily focused on charging for the following: rent, services rendered, secretarial services, translation and information processing, communications, marketing and telemarketing services, and other consulting services target at firms outside of Puerto Rico. This includes export companies and government agencies in charge of foreign exports, and exhibitions of products and services;

Other approved export services:

(1)Re-sale of products destined to people outside of Puerto Rico;

(2) Commission derived from the sale of products destined for people outside of Puerto Rico. (income from the made or derived from the sale of products destined to people inside Puerto Rico are specifically excluded.

(3) The sale of products fabricated or cultivated to order and destined for use, consumption, or disposal by people outside of Puerto Rico.

(4) The sale or distribution to people outside of Puerto Rico of: patents, author’s rights, digital content, commercial brands, and others;

(5) The storage, distribution, and transportation of products and articles that belong to third parties (hubs);

(6) Commercial and mercantile distribution of products that are manufactured or cultivated in Puerto Rico for jurisdictions outside of Puerto Rico;

(7) Bottling and assembly plants and packaging of products intended for exports;

(8) Any other international commercial traffic activity that is included in the incentives law and has been duly approved by the appropriate government entities.