//Any US Citizens here moving to Puerto Rico to take advantage of the 0% Capital Gains incentive program?

Any US Citizens here moving to Puerto Rico to take advantage of the 0% Capital Gains incentive program?

I am currently in Puerto Rico and am thankful that I don’t have to worry about taxes on my crypto trades or gains if I cash out. If you aren’t aware of it already, there is an incentive program for US Citizens to become residents of Puerto Rico and enjoy 0% tax on investment gains.Further, (and I know some here will dispute this, but you really should talk to a Puerto Rico tax attorney instead) until the IRS reclassifies crypto as something other than “personal property”, your crypto purchased BEFORE moving here also qualifies as exempt from taxes. As soon as the IRS changes the classification of crypto to something like a taxable commodity or currency, this opportunity goes out the window.So I know a ton of guys and gals who are racing here as we speak. I got here prior to January 1, so I am set.The requirements are that you must become a resident (which means simply getting a Drivers License, a Lease, a Bank Account, and Register to vote), and spend at least 183 days of the year here. Then you can for the most part go anywhere you want the rest of the year. In fact, you can come here for only 1 year, cash out, and be done. Yes. Really.There is a huge community of crypto people down here already and they’re even buying land and thinking of setting up an actual town where everything is run on crypto and block chain techs for everything from solar to real real estate transactions, etc.Anyone else heading down?

I am currently in Puerto Rico and am thankful that I don't have to worry about taxes on my crypto trades or gains if I cash out. If you aren't aware of it already, there is an incentive program for US Citizens to become residents of Puerto Rico and enjoy 0% tax on investment gains.

Further, (and I know some here will dispute this, but you really should talk to a Puerto Rico tax attorney instead) until the IRS reclassifies crypto as something other than "personal property", your crypto purchased BEFORE moving here also qualifies as exempt from taxes. As soon as the IRS changes the classification of crypto to something like a taxable commodity or currency, this opportunity goes out the window.

So I know a ton of guys and gals who are racing here as we speak. I got here prior to January 1, so I am set.

The requirements are that you must become a resident (which means simply getting a Drivers License, a Lease, a Bank Account, and Register to vote), and spend at least 183 days of the year here. Then you can for the most part go anywhere you want the rest of the year. In fact, you can come here for only 1 year, cash out, and be done. Yes. Really.

There is a huge community of crypto people down here already and they're even buying land and thinking of setting up an actual town where everything is run on crypto and block chain techs for everything from solar to real real estate transactions, etc.

Anyone else heading down?