Wants to move SEO business to the island

I will follow your posts also since my wife and i are also planning on a purchase. Lots to learn about but definitely well worth the effort needed. Good luck!!

thanks! you too!

That would be in the absence of a will...

You will ABSOLUTELY LOVE IT HERE!!!

Hi Mac,

From everything I have read, a will that leaves everything to a spouse is not valid in PR when both the husband or wife have surviving children, the children can not be written out of a portion of the inheritance through a will.

Something even more amazing, is that the heirs not only inherit the property, but any debts of the husband and wife. You have the option to decline the inheritance if the debts are significant.

From a site I was just on: quiebras-herencias dot

Heirs in Puerto Rico may not only inherit assets and property, but the loved one's debt and possible liabilities, as well. If an heir accepts a decedent's inheritance, they are then responsible for their debts and other legal obligations. A lawyer can advise a possible heir if an inheritance is worth the possible obligations, and how an heir may receive extra time to make this decision. They may counsel an heir to claim that they are deliberating inheriting the assets after they have been inventoried, or "A Beneficio de Inventario". This may give an heir a few weeks to decide if accepting the inheritance is worth the possible cost.

This is an all new way of living...

Hi, I have been through three purchases in Puerto Rico over the last 13 years. The most recent was last year. I do not like to give advice but  I have shared my experience here in an earlier post. I do not think it was very beneficial but take it as you may. Other folks seem to have had other experiences and they suggest just getting an attorney. Careful with the attorney you get as all are not as reliable as you might think. A few things to look out for are that all the heirs have signed the document along with any back taxes. I mentioned the process in the other post.

I will be moving my business here also next year. The tax structure is very new and the internet seems to give a good idea of the procedure. It is probably just as important or more important on the laws of the IRS in the States as to what constitutes a resident in Puerto Rico. There is a three year minimum that you have to live in Puerto Rico or the taxes will be retroactive. No residence of any form on the mainland. Not even a room in a house set aside when you are visiting in the States. These are a few rulings I discovered. If we stay in touch I will share some of my experiences as I work through the procedures here in Puerto Rico. I export a physical product from PR and I am also involved in tourism so I actually have two business here and I am not sure if I can establish them as one business. These Questions and more I twill find out in time. Mark

Welcome to the forum!

If the only reason to move is the tax benefits you may want to do some more research before you make the final decision.
Be smart and don't buy straight away but rent a place for a year or so. That way you can find out if you really like the place.

You must be referring to a case where the spouse is not the mother of the children. But in the case of owing a deceased relatives' debts, again, only in cases where property (car/house, or land) has a lien, and in the absence of suitable insurance

We knew we wanted to move to the Caribbean. After doing further research, PR made it as the top contender because of the tax benefits, reasonable flight costs, and beautiful beaches…among other reasons.  i've lived in different places outside the US and had no problem with lifestyle changes and culture shock…although it takes a lot to shock us lol.  We are taking the trip this summer to make sure we don't hate the place…but i doubt that is possible In october we will moving with our 2 huskies and will not being putting them through a trip like that again.  so PR will be our home for at least 5 years.  I realize that buying immediately may be considered risky to some, but I believe it is the best option for us and our beach pups.  After traveling for nearly a year with my boyfriend, we realized that we really can make anywhere our home as long as we're together so sappy, sorry...but true lol!

The tax benefits can be easily outweighed by the higher cost of living as well as mines in the tax field. Like Gary said, do some hard research first. I posted this before I saw your response. I see you have done a fair deal of research. The only thing left to add is to rent for at least one year first.

I'd add that PR is too hot for Huskies. I've seen one or two and they suffer. I had an English Mastiff there, which has much less fur, and she suffered outside of the mountain areas.

Just curious, but where else have you lived outside the US, aburn2?

I lived in Atlanta at one time. Went to law school there.

Yea georgia can get pretty hot for them as well…but they get there summer cuts to help keep them cool and stylish. We will just keep them shaved year round in PR. One of them loves swimming as well, so we plan on having a pool or live on the beach to accommodate to his activities.  The other one lays out in the sun all day in the summer...she enjoys a nice tan.  I really don't get it at all, but she loves the heat.  It hits the upper 90's in the summers here and it doesn't seem to bother them at all, so we're thinking that all of us were meant for the beach life!

I grew up outside of Atlanta and have been trying to finish college for quite a few years, but just keep getting distracted and leaving the country lol.  In my last semester now (hooray!), which is why we're waiting until May to come to PR. Over the past 5 years I've spent about 3 of them outside the US. I've lived in New Zealand and Australia for a year each…not so much culture shock there lol, but both are amazing places!  I've also spent extensive amounts of time traveling in Thailand, Vietnam, and Indonesia and South Africa…also amazing! So many places left to see, never enough time!

Hi Alisson,

I have created a new thread with your post on the Puerto Rico forum.
Here, you are free to ask all your questions.

Best regards

Priscilla 

Hello, Allison welcome!  I love your adventurous spirit and you are right, if you love each other, you can make your home anywhere you choose.  I wish you both much success!

Hi Allison:

When you make your trip to PR, try and ask around about different internet providers and their stability/performance since your livelihood will depend on it.  Utilities here are not as reliable as they are in the US.  The two main companies here are Liberty and Claro, and people seem to love to hate both of them.

We use Liberty (the only authorized provider in our neighborhood) and service is sporadic.  Although, I must say, it has been significantly better since I replaced the coax cables and splitter with my own.  I'm wondering if I received some faulty hardware when we got our service connected.

Customer service is less than stellar to put it very mildly.  When I call to put in a service request, it often takes one hour to actually talk to someone after numerous hang-ups and disconnects.  Sometimes I'll have one of my Spanish-speaking friends call for me - it seems to be easier.

I'd be very hesitant to rely on our internet performance to run a business.  I'm doing some continuing education courses, and it's been pretty frustrating at times trying to log on and do some work.

Along with internet, electricity can be a concern in some areas.  We are in Bayamón and our power goes out several times per week (definitely consider high-quality surge protectors).  Sometimes it's for 30 minutes, sometimes for several hours.  If power is out for an extended period of time, they'll hook up the generators.  Some weeks are better than others - last week we didn't have any issues.

Anyway, hope this help and best of luck with your planning!