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Puerto Rico - Worth visiting?

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abcdavid01
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Puerto Rico - Worth visiting?

Post by abcdavid01 » October 21st, 2014, 9:43 pm

So I'm starting an internship in Orlando next January and I was looking at flights from around New York (Newark to be precise). Anyway, one of the flights had a layover in San Juan and I thought, well why not make a go of it? Is Puerto Rico worth visiting? Could I expect to find a cheap hostel? What would budget be like? The most important thing is simply if it's worth visiting for a few days or a week. I'd be doing real touristy stuff if I went.
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zacb
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Re: Puerto Rico - Worth visiting?

Post by zacb » October 27th, 2014, 2:52 pm

abcdavid01 wrote:So I'm starting an internship in Orlando next January and I was looking at flights from around New York (Newark to be precise). Anyway, one of the flights had a layover in San Juan and I thought, well why not make a go of it? Is Puerto Rico worth visiting? Could I expect to find a cheap hostel? What would budget be like? The most important thing is simply if it's worth visiting for a few days or a week. I'd be doing real touristy stuff if I went.
Well, I know San Juan has a decent night life, so you could have a little fun there. Puerto Rico may be good as a business flag for flag theory, as you only pay territorial taxes on income derived from Puerto Rico. There are no capital gains taxes, thus why a few financial firms are heading there. They are not subject to US minimum wage laws, Obamacare, as well as other burdensome laws thrust upon them by the feds. From what I understand crime is a bit high. Might be a good place to smuggle grey market goods through, but I am not sure about all the regulations. I believe they have free trade agreements separate from the US, which could become handy in arbitrage.
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Jester
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Re: Puerto Rico - Worth visiting?

Post by Jester » October 29th, 2014, 10:30 am

zacb wrote:
Puerto Rico may be good as a business flag for flag theory, as you only pay territorial taxes on income derived from Puerto Rico. There are no capital gains taxes, thus why a few financial firms are heading there.
I think some pharmaceutical firms headed there, and some traders too.

As I see it with the new flat 5% income tax (or whatever they have there), it would be a great location for
--an American trading securities or commodities or real estate on a long-term basis
--an American selling personal services into the US, who is earning a LOT MORE than the 97,600 net earned income that you can exclude as an American just by moving anywhere abroad

It MAY also be good for
-- a foreign company that sells services into the US
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