How Business Leaders Can Thrive in Puerto Rico

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Having helped several entrepreneurs move to and establish themselves in Puerto Rico, I’ve noticed that the island’s tropical lifestyle, enticing tax incentives and booming financial sectors have attracted many successful business owners. The business leaders I work with daily view Puerto Rico as a land of opportunity.

Even though Puerto Rico’s economy experienced a downturn starting in the 1990s, recent years have been more favorable. In an effort to jumpstart the economy, the Act 20 and Act 22 tax incentives were passed in 2012. These two pieces of legislation became Act 60 in 2019.

 Act 60’s positive impact

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Under Act 60, individuals from the mainland United States pay zero taxes on any income garnered from investment interest, dividends and capital gains. Cryptocurrency earnings are also included. Businesses receive a corporate tax rate of 4% on export services, and no taxes are owed on earnings and profits distributions.

With these unprecedented incentives, Puerto Rico has set the stage for attracting world-class entrepreneurial talent. 

Global Tech News Daily

The underinvestment caused by Puerto Rico’s prolonged economic downturn has created numerous opportunities for investment and growth. The service and real-estate industries are particularly promising for U.S. entrepreneurs.

Service industries: filling the gaps 

The influx of entrepreneurs moving to Puerto Rico has opened up a valuable opportunity for service-business owners. I advise entrepreneurs in the service industry to take a look at the trends surrounding the migration of business owners and other wealthy individuals to Puerto Rico. They should design their service offerings to fill the needs of this growing population. 

Global Tech News Daily

For example, service businesses might offer personal or administrative assistance or consulting. Really, any service that will make entrepreneurs’ lives easier has a good chance of succeeding in Puerto Rico. A wide variety of businesses and services can provide the convenience and time savings that entrepreneurs seek.

Real-estate development projects

A number of communities in Puerto Rico are now seeing high real-estate prices — even by U.S. standards. This trend is largely due to the migration of entrepreneurs and other individuals to the island. However, this isn’t the only driver. The delay between supply and demand for new real-estate development projects is affecting the industry as well. Moreover, obtaining construction permits can be a lengthy process, partly because of stringent hurricane-safety building codes. In light of these factors, we can expect real-estate prices in Puerto Rico to continue increasing. 

While it’s a great time to invest in residential real estate, there may be even more opportunities in the booming hospitality sector. As there is a limited supply of hotels, hospitality-development projects will likely thrive. Business owners could also consider operating hotels. 

Four keys to succeeding in Puerto Rico

Businesses leaders interested in relocating to Puerto Rico should keep four crucial factors in mind as they make their plans.

1. Lifestyle

Take a trip to the island before you relocate and plan to visit multiple areas. Spend time exploring to get a true feel for the lifestyle. Figure out where you might fit best. Despite our best efforts, moving to a place with a different culture will undoubtedly have some aftershocks. 

2. Tax compliance

Making sure you qualify for the Act 60 tax incentives will likely require careful research, and owning a business in Puerto Rico does add a layer of complexity. This territory has its own set of tax laws. Moreover, keep in mind that employment regulations and the overall bureaucracy are different from those of the mainland United States. 

3. Mindset

A key to success is to stay focused on the many benefits of living and working in Puerto Rico. Island life is amazing, but some conveniences may be more difficult to access than in the mainland. A realistic view of the negatives is fine, but dwelling on them is unproductive.

4. Flexibility

Patience, persistence and flexibility are three characteristics you will undoubtedly need when moving to Puerto Rico. Day-to-day operations are likely to be different from what you are used to. However, if you embrace the changes and work hard to adapt, you may experience unprecedented business success.

Adjusting to business life in Puerto Rico certainly has its fair share of challenges, but with the enticing tax incentives and a promising economy, dedicated entrepreneurs who can accept the challenges will reap several unique benefits.   

News Related

OTHER NEWS

First Trust Energy AlphaDEX Fund (FXN) Hits a 52-Week High

The First Trust Energy AlphaDEX Fund FXN is probably a suitable pick for investors looking for momentum. FXN hit a 52-week high and is up 59.6% from its 52-week low ... Read more »

Meta Threatens To Close Facebook And Instagram In Europe Over Data Scramble

In a document filed with the U.S. Securities and Exchange Commission (SEC), Meta Platforms Inc (NASDAQ:FB) has warned it could be forced to close Facebook and Instagram in Europe if ... Read more »

How a To-Don't List Can Help You Achieve Your Goals

To-do lists are helpful tools for many people, but they can quickly take over our lives, making daily living feel like just another item to cross off of a never-ending ... Read more »

Immunovant (IMVT) Reports Wider-Than-Expected Loss in Q3

Immunovant, Inc. IMVT reported a net loss of 36 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate of ... Read more »

Buckle's (BKE) Sales Run Continues in January, Comps Gain 4.2%

The Buckle, Inc. BKE looks well poised on the back of its robust strategic efforts, including strength in e-commerce business and an impressive sales trend. BKE has been putting up ... Read more »

6 Best-Leveraged ETF Areas of Last Week

Wall Street put up a moderate show last week with the S&P 500 (up 1.6%), the Dow Jones (up 1.1%), the Nasdaq Composite (up 2.4%) and the Russell 2000 (up ... Read more »

Interpublic (IPG) to Report Q4 Earnings: What's in the Cards?

The Interpublic Group of Companies, Inc. IPG is scheduled to report fourth-quarter 2021 results on Feb 10, before the opening bell. – Zacks Let’s check out how things have shaped ... Read more »

Mednax (MD) Buys Night Lite Pediatrics to Boost Portfolio

Mednax, Inc. MD and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The ... Read more »

Best Growth Stocks to Buy for February 7th

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 7th: – Zacks Apple AAPL: This company whose business primarily runs around its ... Read more »

Gol Linhas (GOL) Stock up 16.2% in a Month: More Upside Left?

Shares of Gol Linhas GOL have displayed an uptrend on the bourses over the past month, gaining 16.2% against its industry’s 3.1% decline. – Zacks Image Source: Zacks Investment Research ... Read more »

Top Research Reports for Bank of America, Coca-Cola & salesforce

Monday, February 7, 2022 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Bank ... Read more »

Sanofi's (SNY) Enjaymo Gets FDA Nod For Rare Blood Disorder

Sanofi SNY announced that the FDA has approved its monoclonal antibody, Enjaymo (sutimlimab-jome), to decrease the need for red blood cell transfusion due to hemolysis in adult patients with cold ... Read more »

The Zacks Analyst Blog Highlights: Alphabet, T-Mobile US, Advanced Micro Devices, Mondelez International and Chubb

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

Why Mid-America Apartment Communities (MAA) is a Great Dividend Stock Right Now

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

On Core Values, Self-Honesty and Having Fun with Jairek Robbins, the New President of SUCCESS

“You gotta answer your DMs, man,” says Jairek Robbins, half laughing, in his latest Brilliant Thoughts interview with Tristan Ahumada. Robbins, who is an acclaimed business coach, best-selling author and ... Read more »

Surging Earnings Estimates Signal Upside for Xilinx (XLNX) Stock

Investors might want to bet on Xilinx (XLNX), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and ... Read more »

BCB Bancorp (BCBP) is a Top Dividend Stock Right Now: Should You Buy?

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

The Zacks Analyst Blog Highlights: AbbVie, Merck, Eli Lilly, Novartis and Pfizer

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

BankUnited (BKU) Stock up 3.4% on New Share Repurchase Plan

BankUnited, Inc. BKU has announced a new share repurchase plan. The company’s board of directors has approved the repurchase of up to $150 million in shares of BKU’s outstanding stock. ... Read more »

TEGNA Inc. (TGNA) Soars 7.4%: Is Further Upside Left in the Stock?

TEGNA Inc. TGNA shares rallied 7.4% in the last trading session to close at $21.34. This move can be attributable to notable volume with a higher number of shares being ... Read more »

Can BCB Bancorp (BCBP) Run Higher on Rising Earnings Estimates?

BCB Bancorp (BCBP) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Earnings Estimates Moving Higher for Marathon Oil (MRO): Time to Buy?

Marathon Oil (MRO) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Transport ETFs to Buy on Solid Q4 Earnings

The fourth-quarter earnings picture for the transportation sector has been robust. This is especially true as earnings of 95.2% of the market capitalization of the sector that has reported so ... Read more »

The Zacks Analyst Blog Highlights: STMicroelectronics, BP and Asbury Automotive Group

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

Earnings Estimates Moving Higher for Robert Half (RHI): Time to Buy?

Robert Half (RHI) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Are You Looking for a High-Growth Dividend Stock? Bar Harbor Bankshares (BHB) Could Be a Great Choice

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor’s dream. But for income investors, generating consistent cash flow ... Read more »

Comcast vs. ViacomCBS: Which Stock is a Better Buy for 2022?

The entertainment industry is growing rapidly, with surging demand for over-the-top (OTT) content and other services. Therefore, prominent industry participants Comcast (CMCSA) and ViacomCBS (VIAC) should benefit. But which of ... Read more »

Here's Why You Should Add Quidel (QDEL) Stock To Your Portfolio

Quidel Corporation QDEL has been gaining on the back of its strong diagnostics portfolio. A solid third-quarter 2021 performance, along with solid potential in In-Vitro Diagnostics (“IVD”) products, is expected ... Read more »

Why State Street Corporation (STT) is a Great Dividend Stock Right Now

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

FAA Approves Request by 19-Year-Old to Continue Tracking Elon Musk's Jets

The ongoing drama between Elon Musk and 19-year-old Jack Sweeney on Twitter seems to have reached new heights as Sweeney has now doubled down on receiving legal documentation to continue ... Read more »

Here's How Small Businesses Can Survive the Post-Pandemic Economy

The last two years have been especially difficult for small business. The good news is that it’s made many entrepreneurs smarter, stronger and more adaptable. The bad news, though, is that ... Read more »

5 Reasons Why You Should Give Gifts to Employees Any Time of Year

Ask around, and you’ll find that many professionals don’t feel they work in the most optimistic or fun-loving environment these days. The ongoing health crisis continues to make working from ... Read more »

'I Do Not Believe Silencing Joe is The Answer': A Complete Timeline Of the Spotify and Joe Rogan Controversy

The past few weeks have been a whirlwind of controversy surrounding Spotify and Joe Rogan’s podcast The Joe Rogan Experience. The streaming platform, which signed a reported $100 million deal ... Read more »

Spectrum Brands (SPB) Q1 Earnings Lag on Cost Inflation

Spectrum Brands Holdings Inc. SPB reported mixed first-quarter fiscal 2022, wherein the bottom line missed the Zacks Consensus Estimate, while sales beat the same. Strength in the pet segment and ... Read more »

Tyson Foods (TSN) Q1 Earnings Top Estimates, Sales Up Y/Y

Tyson Foods, Inc. TSN posted impressive first-quarter fiscal 2022 results, with the top and the bottom line increasing year over year. Sales and earnings surpassed the Zacks Consensus Estimate. – ... Read more »

Diodes (DIOD) to Report Q4 Earnings: What's in the Cards?

Diodes DIOD is slated to release fourth-quarter 2021 results on Feb 9.For the fourth quarter, the company expects revenues of $476 million (+/-3%). The Zacks Consensus Estimate for revenues is ... Read more »

What to Expect Ahead of Sonos (SONO) Q1 Earnings Release?

Sonos, Inc. SONO is scheduled to report first-quarter fiscal 2022 results on Feb 9.For fiscal first quarter, the Zacks Consensus Estimate is pegged at $647.17 million, indicating a year-over-year increase ... Read more »

Hasbro (HAS) Q4 Earnings & Revenues Beat Estimates, Stock Up

Hasbro, Inc. HAS reported impressive fourth-quarter fiscal 2021 results, with earnings and revenues surpassing the Zacks Consensus Estimate. The bottom line outpaced the consensus mark for the sixth straight quarter, ... Read more »

Zacks Industry Outlook Highlights: GoDaddy, QuinStreet and Asure Software

For Immediate Release Chicago, IL – February 7, 2022 – Today, Zacks Equity Research discusses GoDaddy GDDY, QuinStreet QNST and Asure Software ASUR. – Zacks Industry: Internet Delivery Link: https://www.zacks.com/commentary/1862576/3-internet-delivery-stocks-to-watch-in-a-challenging-industry ... Read more »

Nucor (NUE) Wraps Up California Steel Buyout, Boosts Portfolio

Nucor Corporation NUE recently completed the acquisition of a majority ownership position in California Steel Industries, Inc. The company has bought a 50% equity interest from a subsidiary of Vale ... Read more »