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Discuss culture, living, traveling, relocating, dating or anything related to Latin America, Mexico, or Central America.
3 posts • Page 1 of 1
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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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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