Are you tired of the high tax rates in the United States? You’re not alone!
According to Time Magazine, over 4,500 foreigners moved their livelihoods to the island from 2012 to 2019. The migration is because of Act 60, which gives individuals a tax break.
If you want to know how you can get paid to move to Puerto Rico, then this article is for you.
Today, you’ll discover the Puerto Rico tax benefits and learn how much money you can save. We even discuss which companies offer relocation assistance!
Can You Get Paid to Move to Puerto Rico?
The short answer is yes, you can get paid to move to Puerto Rico. Two factors contribute to how much you gain by moving to the island.
First, companies offer relocation help for people who want to start working there. Second, the Puerto Rican government has laws to help you save more of your income.
If you combine these two benefits, you can migrate and stay in Puerto Rico with little cost!
Of course, there are challenges to getting paid to move overseas. You have to apply for it, and there are a few slots available. You also have to pay for pricey application fees.
Yet, once you get around these problems, you may find the move is worth the trouble.
How Much Can You Make by Moving to Puerto Rico?
Business News Daily says some employers spend $19,309 to $24,216 to relocate renters. The amount can rise from $72,627 to $97,116 for homeowners.
This isn’t the only perk to moving to Puerto Rico! Because it’s a US territory and not a state, you don’t have to pay federal tax when you move there.
According to CNBC, there’s no fixed amount on how much you can make from the government. Yet, there are benefits like the Puerto Rico incentives code. The most popular one is Act 60 for individuals and businesses.
Are There Tax Benefits to Moving to Puerto Rico?
Yes! There are tax benefits to moving to Puerto Rico from the United States. Through the individual investors act, a bona fide resident can enjoy 0% capital gains tax and 0% dividend rate.
Moving your business to the island has its advantages too.
The usual corporate tax in Puerto Rico is 37.5%. However, under Act 60, you only have to pay 4% income tax.
Puerto Rico’s internal revenue code grants an exception from paying tax to the federal government.
In exchange, you have to become a Puerto Rican resident for 183 days each year. You also have to hire locals for your business. Don’t worry, you can do this even if you stay as an American citizen!
Places in Puerto Rico That Pay You to Move
Where should you move to? These are the most popular cities among those who get tax exemptions from the local government.
1. San Juan, PR
San Juan is the capital of Puerto Rico. It’s the largest city on the island, and it has plenty of beaches, bars, and other tourist spots!
You can find plenty of English speakers in this contemporary city, so it’ll be easy to adjust to local life.
How Much You Can Make
According to PayScale, the average salary in San Juan is $51,000 per year. Those who get a position as a director of operations can expect to make the most at $83,295 per year!
The most common jobs are for project managers, operational managers, and financial analysts. Banco Popular and WPP Group are the favored employers.
If you take up residency in this city, you can apply for the Puerto Rico income tax exemption. This means you can keep a huge chunk of your salary and spend it elsewhere!
What Makes This Option Great
San Juan is a great place for any business owner due to the large number of tourists.
The tourist industry in San Juan received $8.9 billion in revenue in 2019. In 2022, over 5.1 million visitors landed at the Luis Muñoz MarÃn International Airport!
2. Ponce, PR
Ponce is a city to the south of Puerto Rico that offers museums, restaurants, and a bustling historical district.
It’s famous for art collections, old-time mansions, and unique Creole culture.
How Much You Can Make
The average salary in Ponce is $12.40 per hour. The 2020 median household income in this city is $17,827. You can pay a lower tax rate if you’re a beneficiary of Act 60!
Popular resident jobs are administrative assistants and electronics technicians.
What Makes This Option Great
Although Ponce has a lower average salary than San Juan, it’s more affordable. You can rent a one-bedroom apartment in the city center for only $500, and meals only cost $10.
The focal point of Ponce is affordable housing! The median property value is $95,600.
To give you perspective, the average cost of a property on the mainland is $226,800.
With a population of 220,601, it has a more relaxed environment. You can avoid the huge crowds of San Juan if you move to Ponce.
3. Dorado, PR
Just a 30-minute drive from San Juan is Dorado. It boasts luxury estates, guarded suburban-style homes, and several shopping centers.
Dorado is a high-end city in Puerto Rico. Due to the security measures, it’s one of the safest areas. There’s a low to moderate crime rate.
How Much You Can Make
Dorado is a high-end city in Puerto Rico, so the average salary is higher than the capital. People who work there make $55,000 per year.
The most popular roles are account managers, system administrators, and talent acquisition consultants. It’s worth noting that security managers can make $140,000 per year in Dorado.
Yes, taxpayers in this city can apply for Act 60 benefits.
What Makes This Option Great
Dorado is home to many English-speaking schools and American restaurants. There’s a large expat community you can be a part of.
You won’t run out of activities as well. There are plenty of walkways, bike lanes, beach resorts, and golf courses!
4. Rio Grande, PR
Rio Grande always makes it to any list of top cities to live in Puerto Rico – and for good reason! It has lush rainforests and beaches.
The city is serene, and residents have a quiet lifestyle, but it only takes a few minutes to drive to San Juan for some excitement!
How Much You Can Make
The average salary in Rio Grande is $51,000 per year. Popular positions include assistant project managers, accounting managers, and construction workers.
What’s more, business analysts in the Rio Grande can earn up to $87,000 per year.
The biggest employer in the city is Wyndham International, which is a golf and beach resort. It’s worth mentioning that a controller in this resort has a salary of $190,769 to $224,501 per year!
What Makes This Option Great
The Rio Grande is right next to the El Yunque National Forest. It’s the only tropical rainforest in the United States, and living beside it can feel magical!
There are several waterfalls you can swim in and panoramic views to look at.
We love that you can access a wellness retreat center and massage services here. The Rio Grande is perfect for those who prefer being around nature!
Jobs That Pay You to Relocate to Puerto Rico
Are you considering moving to Puerto Rico? These companies will pay you a relocation fee to become a Puerto Rican resident!
1. Director of Operations, Rent Express by Berrios
As the director, your job is to manage, plan, and coordinate the operations activities. You’ll make sales projections, come up with budgets, and enforce company standards.
You’re expected to supervise the district managers and hire competent staff.
To qualify, you need a bachelor’s degree and five years of experience in similar roles. Being bilingual is a must.
How Much You Can Make
The starting salary of the director of operations is $100,000 per year. You get relocation assistance, health insurance, and life insurance.
This employer will match your 401(k) contributions, and it has an employee assistance program!
What Makes This Option Great
What we like about this position is the work-life balance. You only need to work 8-hour shifts from Monday to Friday. After work, you can enjoy the beautiful scenery of the Caribbean!
There’s also a signing bonus and other bonus pay. The best part is you get to travel to other parts of Puerto Rico.
If you love leading people and want to keep more of your taxable income, becoming a director in Puerto Rico is a great job for you!
2. Substation Electrical Engineer, Sargent & Lundy
Sargent & Lundy is an architect and engineering firm with an office in San Juan, PR.
As a substation electrical engineer, you’ll work in the electrical design of high-voltage substations. You’ll prepare technical reports, travel to client sites, troubleshoot, and conceptualize projects.
To qualify, you need a BSEE degree and one to two years of experience in the same position. A downside is Speaking Spanish is a must.
How Much You Can Make
The average pay for an electrical engineer at Sargent & Lundy is $66,515 per year.
Benefits include insurance plans, wellness screenings, paid vacations, and tuition help. There’s a scholarship program available for your kids, and you can claim an adoption expense reimbursement!
This company provides a generous relocation package on top of the salary, but the amount depends on your location.
What Makes This Option Great
According to employee reviews, this work is challenging yet rewarding. It’s possible to have a flexible work-from-home setup, and the company provides all the tools you need.
The working environment is great. Employees are easy to get along with, and there’s plenty of room to grow!
3. Border Patrol Agent, United States Customs and Border Protection
If you’re interested in a career in law enforcement, this job is for you!
Part of your daily routine is to detect and apprehend smugglers and undocumented visitors. You’ll perform traffic checks, city patrol, and guard coastal waterways.
To qualify for the position, you need one year of experience or a bachelor’s degree. You have to be a US citizen and pass the initial training.
This training program will include Spanish classes, firearms, driving, and physical techniques.
How Much You Can Make
The salary for a border patrol agent in Puerto Rico is $52,921 to $95,129 depending on your grade.
You get a $10,000 bonus after you complete the 6-month training, which will help with the moving costs. On top of this, you’ll receive all the federal employment benefits.
What Makes This Option Great
Being a border patrol agent is an honorable job that lets you protect Americans by stopping illicit activity. You don’t need much experience to start, and all the training is provided.
You can apply for the tax incentive as this role is in Puerto Rico!
4. Front Desk Agent, San Juan Beach Club Hotel
As a front desk agent, part of your tasks is to become the first point of contact for all guests.
You’ll arrange accommodations, make reservations, and provide information on the hotel amenities.
Plus, you’ll coordinate with housekeeping to ensure that all rooms are clean and customer needs are met. Aside from this, you have to keep updated records of the bookings and payments.
To qualify for the job, you need at least one year of experience working at a hotel.
How Much You Can Make
The salary for this position is $17,800 to $22,500 per year. Work is flexible as long as you cover eight hours a day, five days a week. You may choose to work day shifts, night shifts, or weekends.
Other benefits include relocation assistance and health insurance. You also get discounts on properties, free parking, and other incentives!
What Makes This Option Great
Becoming a front desk agent requires little previous experience. You can meet a lot of people while learning time management and multitasking skills.
This job prepares you for various positions in the tourism sector. I’ll help you build your resume, and it’s the perfect training ground for those at the start of their career.
Why You Should Consider Moving to Puerto Rico
Moving to Puerto Rico lets you become the definition of a gig worker. You get to do freelance jobs or own a business in the Caribbean!
Here are more reasons why you should consider becoming a Puerto Rico resident.
1. You Can Create Jobs for the Locals
The reason why Puerto Rico offers tax breaks is to generate work for locals. If you start a business there, you help the island’s economy.
As of 2019, Act 60 companies have invested $1.2 billion and created 36,000 new jobs. These companies also pay more than what a regular household in Puerto Rico makes.
2. There Are Tax Savings
The internal revenue code gives a tax exemption to any company with Puerto Rico source income. This includes companies from the mainland.
Foreigners who gain bona fide residency can apply for exemptions through the Single Business Portal.
Because of these, the island is a lucrative place to start a business for US citizens!
3. Puerto Rico Has a Booming Economy
According to Fortune, Puerto Rico is turning into the new Florida for remote workers.
Tourism plays a huge role in the island’s economic development.
The manufacturing industry is improving the quality of life as well. As of 2020, Puerto Rico has turned into one of the top manufacturers of pharmaceuticals in the United States.
4. You Can Buy Properties
Puerto Rico is a United States commonwealth. Because of this, you can buy properties without restrictions!
Real estate is affordable, and you have a variety of options. For instance, you may want to purchase a condo right in front of the beach.
It comes as no surprise that buying a house comes with tax breaks.
5. The View
Let’s not forget that Puerto Rico is the heart of the Caribbean. There are plenty of beaches and mountainous areas with spectacular views!
It has more than a hundred islets filled with cays and coral reefs. The island’s Mosquito Bay is even in the Guinness World Record for being the brightest bioluminescent bay on Earth.
Is It Cheap to Live in Puerto Rico?
Yes, it’s 7.8% cheaper to live in Puerto Rico than on the mainland!
Real estate is the best part of living in Puerto Rico in terms of cost. You can expect to pay 46.2% lower than the average rent in the United States.
Yet, expenses on electricity and imported goods are higher than normal.
For education, there are in-state tuition fees as low as $4,940. The median loan debt for those with undergraduate degrees is $5,500.
Some students at the University of Puerto Rico receive money for tuition and living expenses with scholarships!
Overall, living in Puerto Rico is affordable. It’s worth the trouble to look for incentive programs offers to movers.
What Is a Livable Salary in Puerto Rico?
For a single person, the cost of living in Puerto Rico is $1,044 per month without rent. It can reach $1,647 if you have a one-bedroom apartment outside the city center.
A family of four has a monthly cost of $3,656.4 per month without rent. The price can go up to $4,808 with rent for a three-bedroom apartment outside the city center.
This means that the gross income in Puerto Rico of $24,560 per year is enough for one person. An average family will need at least $57,698 per year to live comfortably on the Caribbean island.
Unfortunately, the minimum wage in Puerto Rico of $8.50 per hour isn’t a livable salary.
Frequently Asked Questions
Here are common questions people have about getting paid to move to Puerto Rico.
Can Americans Easily Move to Puerto Rico?
Yes! An American citizen can easily move to Puerto Rico because it’s a US commonwealth.
You don’t need a passport to travel there from the United States, and it’s not necessary to change citizenship to buy property.
If you find a job in Puerto Rico that offers relocation packages, you can move there for cheap!
Can Foreigners Work in Puerto Rico?
Yes, foreigners can work in Puerto Rico. However, you may find it difficult if you can’t speak Spanish.
Puerto Rico is open to foreign businesses, provided you create jobs for the locals. Because of the source income laws, companies can operate there without having to pay federal taxes.
Similar Locations to Consider
Are you unsure if you want to become a Puerto Rico resident? Here are other locations you might want to consider moving to!
- Get Paid to Move to Florida: Like Puerto Rico, Florida is famous for its beaches, warm climate, and amusement parks!
- Get Paid to Move to Tulsa: As the Oil Capital of the World, Tulsa has a bustling industry and artistic architecture. The city is one of the best places to live in Oklahoma.
- Get Paid to Move to California: California is for those looking for work in the agriculture, travel, and entertainment industry.
Wrapping Up
Can you get paid to move to Puerto Rico? The short answer is yes, you can!
Some companies will pay you to relocate to the island. On top of this, there are tax exemptions that’ll let you save money.
It’s worth making the move to Puerto Rico because of its beautiful scenery and lower cost of living. If you want to start a gig worker lifestyle, Puerto Rico is a great place to move.
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