Puerto Rico (Spanish for 'Rich Port') is an island territory of the United States of America. There are 3.2 million inhabitants and the capital city is San Juan.
Puerto Ricans have been U.S. citizens since 1917, and can move freely between the island and the USA mainland.
The maximum length of the main island from east to west is 110 mi (180 km), and the maximum width from north to south is 40 mi (64 km).
The U.S. Department of State has a Visa Waiver Program (VWP) allowing citizens of participating countries to enter the United States (and Puerto Rico) without a visa for stays of up to 90 days.
Visitors wanting to stay longer than 3 months can apply for an extension.
Individuals who are retired from work, financially independent and a person of good character can apply for Puerto Rico permanent residence.
U.S. citizens can reside in Puerto Rico indefinitely, so there is no need to apply for a Puerto Rican citizenship certificate.
Individuals who have permanent residency and have resided in Puerto Rico are eligible to apply for a citizenship certificate.
There are no restrictions on foreign buyers acquiring real estate in Puerto Rico. The Government of Puerto Rico welcomes investment from overseas investors.
Search for your perfect property.
Make an offer to purchase the property with the Real Estate Agent.
Engage a lawyer to perform a title search and land survey.
After signing the Agreement for Sale, pay a 5 to 10% deposit.
On settlement pay all taxes and fees.
Pay the balance of the purchase amount.
Please seek the advice of a local lawyer. Legal fees depend on the complexity of the transaction and the amount of work performed.
The buyer pays the property transfer tax
There is no capital gains tax on the sale of a property in PR, for Puerto Rico residents.
No inheritance or gift taxes are levied in Puerto Rico and Tobago.
Sales tax on goods and services is 11.5%.
Puerto Rican residents are taxed in Puerto Rico on their worldwide income.
Puerto Rico non-residents only pay PR taxes on their income sourced on the island.