Ask HN: Has anyone moved to Puerto Rico, was it worth it?
I'm interested if anyone has moved to PR from the United States for financial reasons and if so, what their experience was/is.
17 comments
Puerto Rico has massive problems, I’d highly recommend vacationing there before considering moving. It’s a nice vacation spot! But go outside of the tourist zone and the political corruption is dauntingly clear. Infrastructure just never gets repaired after hurricanes because politicians leaders/etc steal the funds. Half a mile from the hotel zone are beautiful homes that were destroyed a decade ago, and never were rebuilt. People still live in them.
Puerto Rico is a truly beautiful place. But it’s definitely not just another US state but in the Caribbean.
Puerto Rico is a truly beautiful place. But it’s definitely not just another US state but in the Caribbean.
What are the financial benefits? Lack of state tax? There are states with no state tax (check if they have correspondingly high property tax, they usually do): https://www.aarp.org/money/taxes/info-2020/states-without-an...
Everyone I know from PR moved to the states when possible, but then again, I wouldn't know people who moved the other way.
Everyone I know from PR moved to the states when possible, but then again, I wouldn't know people who moved the other way.
Lack of federal income tax I believe
Holy shit really? Catch me in PR next year then.
More seriously, is this something that's true of territories in general. I was reading the other day and was kinda disappointed I can't even visit most territories.
More seriously, is this something that's true of territories in general. I was reading the other day and was kinda disappointed I can't even visit most territories.
Which ones can't be visited?
I know we can go to Guam, PR, what territories can't we visit?
I know we can go to Guam, PR, what territories can't we visit?
Most of the ones that are "uninhabited" here: https://en.m.wikipedia.org/wiki/Territories_of_the_United_St...
Some of them have very good reasons, for example at least one was a nuclear test site. One of them is visitable, but you basically have to sail a private boat (I wonder if a rental is fine) from Hawaii to reach it and iirc need to get permission ahead.
Some of them have very good reasons, for example at least one was a nuclear test site. One of them is visitable, but you basically have to sail a private boat (I wonder if a rental is fine) from Hawaii to reach it and iirc need to get permission ahead.
Surprised there have been so few comments. I’m not there but have contacts and customers, and go occasionally.
I’ve followed some of the press about attempts to bring in tech sector resources through tax breaks. One of the big issues is localized pressure on housing costs in prime areas, such as Rincon.
Bottom line seems to be that the scene is focused on the elite rather than creating an organic environment. I’d be pleased to read articles contradicting this view, if any.
Contrast also with some increasingly successful efforts to diversify and localize the restaurant and food supply sectors.
‘Crypto colonizers’ in Puerto Rico try to sell locals on the dream - https://www.washingtonpost.com/technology/2022/01/13/crypto-...
The Rush for a Slice of Paradise in Puerto Rico - https://www.nytimes.com/2022/01/31/us/puerto-rico-gentrifica...
How Crypto Wealth Is Gentrifying Puerto Rico - https://www.nytimes.com/interactive/2022/02/10/business/puer...
Reclaiming Puerto Rico’s Food Paradise - https://www.nytimes.com/2015/02/18/dining/reclaiming-puerto-...
Is America's best restaurant in Puerto Rico? - https://www.bbc.com/travel/article/20220215-is-americas-best...
I’ve followed some of the press about attempts to bring in tech sector resources through tax breaks. One of the big issues is localized pressure on housing costs in prime areas, such as Rincon.
Bottom line seems to be that the scene is focused on the elite rather than creating an organic environment. I’d be pleased to read articles contradicting this view, if any.
Contrast also with some increasingly successful efforts to diversify and localize the restaurant and food supply sectors.
‘Crypto colonizers’ in Puerto Rico try to sell locals on the dream - https://www.washingtonpost.com/technology/2022/01/13/crypto-...
The Rush for a Slice of Paradise in Puerto Rico - https://www.nytimes.com/2022/01/31/us/puerto-rico-gentrifica...
How Crypto Wealth Is Gentrifying Puerto Rico - https://www.nytimes.com/interactive/2022/02/10/business/puer...
Reclaiming Puerto Rico’s Food Paradise - https://www.nytimes.com/2015/02/18/dining/reclaiming-puerto-...
Is America's best restaurant in Puerto Rico? - https://www.bbc.com/travel/article/20220215-is-americas-best...
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.
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.
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.
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.
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.
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.
Depending on what financial reasons you mean, consider the US Virgin Islands as an alternative. It's right next door to PR but is English-speaking.
Previous discussion:
https://www.youtube.com/watch?v=fpjPh1mtp-0
https://www.youtube.com/watch?v=fpjPh1mtp-0