Is Puerto Rico the Singapore of the Caribbean?
The island has passed legislation to position itself in a unique situation where it is the only place in the world where US citizens can escape US Federal as well as state income tax without renouncing. John Paulson’s endorsement of the program has caused many people to take notice and many people have been coming in with their own opinions of the program.
Some articles written about Act 20 and 22:
Puerto Rico as an Alternative to Renunciation
Puerto Rico: Don’t Believe the Hype
Bankrupt Puerto Rico isn’t the tax haven you think it is
In this Episode we had on Ramphis Castro who has been instrumental in putting these acts as well as other reforms to try to make many places in the Caribbean more friendly to entrepreneurs. He addresses the concerns about the ability of these policies to continue as well as other details of the acts.
Ramphis is also helping organize a StartUp weekend this year in Cuba. He talks about the changing environment there for business and how people can get involved. Ramphis wrote this article on what they are attempting to do in Cuba.
The PR Acts that allow American Citizens avoid income and capital gain taxes (5:40)
Who would benefit by becoming a resident of Puerto Rico? (9:00)
How how someone get started taking advantage of these acts (10:34)
Will the US and PR governments continue to allow this to to continue? (18:00)
The PR public debt (21:30)
The Pros and Cons of living in Puerto Rico (23:33)
The cost of living in PR (28:28)
The Founders Institute (34:40)
The StartUp Weekend in Cuba (37:30)
Other opportunities in the emerging markets (42:51)
Ramphis’s advice to new entrepreneurs (47:20)
Thanks for listening!
We hope you enjoyed this podcast. If so, please leave a review here. It REALLY helps us out!
Don’t forget to subscribe to The Borderless Podcast on iTunes