Puerto Rico – known as “Isla del Encanto” in Spanish or “Island of Enchantment” – is more open today than ever – for both business and pleasure.

As an island in the Caribbean that is part of the United States, Puerto Rico attracts thousands of new residents every year with near-perfect climate and an average temperature of 28C or 82F, miles of world-class sandy beaches, the natural wonder of a rainforest, relatively low cost of living, excellent schools and healthcare, and low taxes.

Located in the northeast Caribbean with a population of 3.7 million, residents of the Commonwealth of Puerto Rico have long enjoyed the most coveted perks of U.S. citizenship. These include full mobility within the whole of the United States without passports or visas, as well as full residential and employment rights in any of the U.S.’s 50 states. Puerto Rico’s currency is the U.S. dollar, its only passport is the U.S. passport, and it benefits from U.S. rule of law.

Puerto Rico is also the Caribbean’s center of influence as well as its transportation hub, with over 10 million passengers per year landing in San Juan’s international airport. It is bi-lingual in English and Spanish.

While the investment opportunities offered by Iconic Caribbean are located in Puerto Rico, the EB-5 investor is not bound to eventual residency in Puerto Rico but can choose to live or work anywhere in the United States or its territories.

However, residents of Puerto Rico are not subject to U.S. federal income tax like those in the fifty U.S. states are.

Additionally and following new laws passed in 2012, there are exceptional tax advantages for choosing to reside or mount your business operations in Puerto Rico that are unparalleled anywhere else in the United States. These include 0% tax on investment income until 2036, and only 4% in corporate tax for 20 years at a minimum.

For a detailed explanation of Puerto Rico’s new tax laws, see the following presentation by the government’s Department of Economic Development and Commerce