Anyone considering retirement in Puerto Rico?

[CuriousJoe]

There has been many threads about retirement in Europe, Mexico, South America.. but haven't seen Puerto Rico being mentioned.


https://www.offshore-protection.com...ates, which comes with many unique advantages.



The US is one of the only nations in the world which taxes its citizens on all their worldwide income, irrespective of where they live; however, this is where Puerto Rico offers a unique advantage. Because Puerto Rico is technically part of the US, income sourced in Puerto Rico is excluded from additional US federal tax.


Being a tropical Caribbean island, it is no surprise that a major benefit of retiring in Puerto Rico is its great climate and beautiful landscapes.



As Puerto Rico is already a part of the United States, retirees will technically not even have to relocate to a new country. This means no hassles with visas, residency, currency exchanges, cultural adjustments, and so on. US citizens can move freely to Puerto Rico. It doesn’t take much more than getting on the next available flight out!


It is on average more than 50% cheaper to rent a house or apartment in Puerto Rico than the mainland US.



US retirees who already have Medicare will be happy to know that it is valid in Puerto Rico just like anywhere else in the US. Private medical insurance is also a good option because it is much more affordable in Puerto Rico. There are some top-quality hospitals and health services in Puerto Rico, with wide reaching infrastructure and access no matter where you choose to live

 

[Alan]

There was a thread on retiring there a few years ago.

https://www.early-retirement.org/forums/f27/living-and-retiring-in-puerto-rico-77415.html

https://www.early-retirement.org/forums/f28/puerto-rico-passive-income-shelter-act-22-a-75818.html

And a thread last year

https://www.early-retirement.org/forums/f28/geoarbitrage-105428.html

 

[Bamaman]

I've been to Puerto Rico a few times over the years, and did some business over there. We even once rented a casita for a few days prior to taking a cruise to the deep Caribbean.

Puerto Rico has as good of weather as there is anywhere--exclusive of a hurricane from time to time. And the island is absolutely beautiful. It's a shame that it's not a real tourism haven given the great weather and beauty.

But there is now little in the way of jobs--other than in tourism. So many factories closed, and millions of Puerto Ricans have had to move to the mainland--mostly around Orlando and New York City areas. As you ride around the island, it's obvious they have a thievery problem as virtually every house has security door, bars on windows and even security bars around their open carports.

You see families there speaking only Spanish, some raising their kids English, and most speaking Spanglish--half and half. I never understood their not speaking any English since they're looking at Miami television and U.S. satellite channels.

But living there would be easy--for someone from the Mainland. Currency and banking is just like in the U.S. Your Walgreens' medical records are found at Walgreens in P/R. Many familiar fast food restaurants are also there. You might not like their taxing new cars to keep vehicle numbers down on their terrible roads--like a 100% sales tax. Many used cars get shipped there with miles on them--out of the Port of Miami.

I think their biggest problem (other than overpopulation) has been a long line of corrupt politicians. They cannot get roads built within budget and time. $ billions in U.S. government funds has disappeared. And things just don't get done there. But the place has great potential if their Deep State was cleaned out--but don't expect it.