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by schultzie 1464 days ago
What financial reasons do you mean, exactly? Tax Act 60? https://www.the2022actsociety.org/act-60/

There are many considerations you need to make if Act 60 is what you're referencing. To name a few considerations:

1. Cost of living in Puerto Rico is quite high. Expect to pay roughly double for the same foods you would anywhere else in the US, in terms of eating out OR the grocery store.

2. Applying for Tax Act 60 is a fairly lengthy process - depending on what service you go with, it can cost upwards of $20,000. This is just for the application, not for the other requirements it has such as becoming a "bona fide" resident.

3. This one is fairly minor, but worth noting. Puerto Rico moves at a difference pace than the rest of the US. Many online services we take for granted just don't really exist here. Schedule a doctor apt online? Buy car/medical insurance? Bank services? All of those either happen on the phone or in person. If you don't know spanish, this can be difficult to navigate.

I don't say this to dissuade you, just to recognize there are unexpected considerations to make that might not be immediately obvious/expected.

4 comments

Would add to this that some of those appointments involve waking up early and waiting for multiple hours.

Some family who live part of the year on the island will schedule all medical visits in the USA to avoid the waiting.

>1. Cost of living in Puerto Rico is quite high. Expect to pay roughly double for the same foods you would anywhere else in the US, in terms of eating out OR the grocery store.

This includes online shopping. UPS and FedEx's rates for delivery to PR are much higher than on the mainland, so almost all sellers that use those carriers won't ship to the island even if the item is small enough for USPS (which does not charge more). Same with Amazon, although there is a chance a third-party Amazon seller will.

Amazon will ship 95% of the items that you'd get on the mainland.

The exceptions are very large items or sometimes items with batteries.

It's a bit of a pain but you can deal with the freight forwarder for large items, or reshipper for smaller if you really want something that's not available elsewhere. I've had success asking sellers to ship something via USPS even if they don't do it normally.

That third one is pretty major. On the other hand medical care while more of a pain to navigate, can be significantly cheaper than on the mainland.
A friend of mine described trying o get info from his community college in PR and it sounded... frustrating.