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Cryptocurrency sol puerto rico

This means that American citizens must pay U. This has been a controversial issue among expatriated Americans since the Civil War. In the 21st century, the U. In fact, it may just lead to additional paperwork. For cryptocurrency investors who want to avoid navigating a labyrinth of tax code acronyms but are ready to relocate to optimize their tax liability, one more option exists.

Many new millionaires are solving their tax problems by moving to Puerto Rico. Why Move to Puerto Rico? Puerto Rico is the only place in the world that follows neither U. As of January 1st, , island residents enjoy full tax exemptions on Puerto Rican-sourced dividends and capital gains earned from the appreciation of securities — like cryptocurrencies. In order to benefit from this exemption, U. A Puerto Rican resident who purchases an official tax exemption decree has two years to purchase residential property in Puerto Rico.

This is the lowest rate that a U. So this crypto community flocked here to create its paradise. Now the investors are spending their days hunting for property where they could have their own airports and docks. They say they are close to getting the local government to allow them to have the first cryptocurrency bank.

For now, the local government seems receptive toward the crypto utopians; the governor will speak at their blockchain summit conference, called Puerto Crypto, in March. He expected the tax expatriates to disappear after Hurricane Maria, but the population has instead boomed.

Mendez, who has about two dozen crypto clients.

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Sol - La Crypto Utopia a Puerto Rico!

10/19/ · O Sol. When it comes to examples of futuristic crypto societies, none is more bold or vivid than Sol. The relocation of a number of notable cryptocurrency enthusiasts from . 1/13/ · Many Puerto Ricans are captivated. On a recent Wednesday in Condado, a touristy neighborhood on the city’s northern coast, the year-old who makes $8 an hour managing a . Puerto Rico has recently updated the law that governs the tax incentives for incoming entrepreneurs, including crypto. Law made a key change to the rules that govern tax .