The Puerto Rico Investor Certification Form, also known as the Puerto Rico Act 60 Investor Decree Form, is a crucial document required for individuals seeking to take advantage of the tax incentives provided by the Puerto Rico government. This certification form is specifically designed for investors interested in relocating to Puerto Rico and taking advantage of Act 60 tax incentives. The Act 60 Investor Certification Form serves as an official indication of an individual's intention to become a resident of Puerto Rico and obtain the accompanying tax benefits. It requires to be detailed personal information, including name, address, contact details, and social security or tax identification numbers. The form also requires individuals to declare their investment activities on the island. This includes specifying the type of business or investment activities planned, such as real estate development, manufacturing, export services, or investment management. Each type of investment may require different supporting documentation and certification. There are various types of Investor Certification Forms under Act 60, depending on the specific tax incentives an individual is seeking. Some of these forms include: 1. Export Services Company (ESC) Certification: This form is for individuals interested in establishing an export services company in Puerto Rico, which can benefit from a 4% fixed income tax rate and exemptions on dividend distributions, among other incentives. 2. Individual Investor Certification: This form is for individuals who plan to invest capital in eligible businesses on the island. The qualified businesses can receive a 4% fixed income tax rate on dividends and certain passive income. 3. Executive Relocation Certificate: This form caters to high-ranking executives who intend to become residents of Puerto Rico while working for eligible businesses on the island. These executives can enjoy reduced personal income tax rates and exemptions on certain types of income. 4. Film Investor Certification: This form is specifically designed for investors interested in the film production industry in Puerto Rico. It provides tax incentives, such as a 40% transferable tax credit on eligible expenses. Completing the Puerto Rico Investor Certification Form accurately and submitting it to the relevant government authorities is an essential step towards obtaining tax incentives as outlined in Act 60. It is crucial to consult with legal and tax professionals familiar with Puerto Rico's specific tax laws and regulations to ensure compliance and optimize the benefits available.
Puerto Rico Investor Certification Form
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How to fill out Puerto Rico Investor Certification Form?
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The business and/or individual must submit an application through the Single Business Portal. Upon approval, they are granted a tax exemption decree which provides full details of tax rates and conditions mandated by the Law. This decree stands as a contract between the grantee and the Government of Puerto Rico.
Applying for the Individual Resident Investor Act There is a $750 fee due with your application, which you are to submit to the Office of Industrial Tax Exemption. Upon approval, you will be required to pay a one-time $5,000 acceptance fee.
How long do you have to live in Puerto Rico to qualify for Act 60? You must spend at least 183 days per year in Puerto Rico. That means you can still spend the entire hurricane season somewhere else.
An Introduction to Act 60?and Its Benefits for Businesses & Individuals. Businesses that relocate to Puerto Rico and export services to individuals or companies located outside the territory can enjoy a unique set of benefits under Act 60.
Any person who wishes to engage in business in Puerto Rico must submit and register with the Treasury Department using the form ?Application for Merchant's Registration Certificate? for each business location. All exhibitors, mobile businesses and or temporary businesses must also fill out this form.
Individual Investors A Puerto Rico resident is an individual who is domiciled in Puerto Rico. Physical presence in Puerto Rico for a minimum period of 183 days during the taxable year will create a presumption of residence in Puerto Rico for Puerto Rico income tax purposes.
An Overview of the Tax Benefits Under Act 60 of Puerto Rico: A tax exemption of fifty percent for the municipality. An exemption from the local and state property taxes equal to 75%. An exemption from taxes equal to one hundred percent on all distributions made from earnings and profits *
Entities in Puerto Rico are identified through a taxpayer ID known as the Employer Identification Number (EIN), which is issued by the US Internal Revenue Service (IRS). Unlike other jurisdictions, the local Treasury does not issue a separate identification number.