Puerto Rico Pro Tips 2.0
How to Move to, Build & Grow in PR
First Things First, Visit & Join The Community.
Once you land in PR the first thing to do is connect with the local community. Come out to one of the many weekly crypto meet ups, you will find people very welcoming and this will be the key to the next steps in your journey.
Crypto Curious’ Monday Meet Up:
https://www.meetup.com/meetup-group-hfkyfakh/
Second, Hire The Sherpas.
Ask your new friends how to get things done. Everything in PR is relationship driven. Need a house, everyone has a realtor or three to connect you with. Need to set up power, water, electricity, internet and don’t speak Spanish yet, no problem you can hire some one for few hundred bucks to get you set up. Need a notary, lawyer, office, or anything else the answer is always to ask your friends and they will “know a person” for that.
Same with government licenses / permits / grants, don’t want to navigate the DMV (called “CESCO” in PR), hire License & Co. to set your appointment: https://www.facebook.com/licensepr/
Want to file an ACT 60 application? Hire a firm to file your application.
GEO Tax: https://geo.tax/
WP Group:http://wpginternational.com/about-us
Third, Be Present in PR When You Look For a Place to Live.
Real Estate agents don’t bother with “tourist types”. People who aren’t here or just seem to be passing through don’t get their calls returned or much attention. The first question every agent asks is if you are in Puerto Rico already and if not to call them back when you are. Because of the gated community nature of Puerto Rican neighborhoods you need to be available to take tours with the agent.
Forth, Pick A Neighborhood Best For You / Your Family
If you are single or in your 20’s and enjoy night life then down town San Juan is the place to be. Great neighbors like Miramar are close to everything, but just outside the tourist strip in Condado beach.
If you have a family and want more space, then suburbs such as Guaynabo are a great choice and only 20 minute commute from down town San Juan. This is where most of the amenities such as IKEA, Best Buy, Sam’s, Costco, churches, and tons of restaurants are located.
If you want more of the golf course / retirement / high end luxury scene then Durado Beach and Palma Del Mar to the west and east of San Juan are places to look.
Durado Beach:
Palmas Del Mar:
There are a ton of great videos by “Jen There Done That” about moving to Puerto Rico and its many neighborhoods.
Fifth, Lease and Then Buy.
Once you have selected the neighborhood best for you, the best way to get moved in fast is just to find a basic place you can rent for 12 months. This will set your residency on the fast track and gives you a place to put your stuff, park your car, work out of while you look for a place to buy. PRO TIP: Don’t look online, the real estate online is mostly to show off recent places realtors have sold and doesn’t reflect what’s currently on the market.
Six, Buying or Shipping a Car To Puerto Rico
If you are living in the suburbs having a car in Puerto Rico is key. You can buy a car locally at one of the many dealerships, but the cost is $10,000 to $15,000 more per vehicle based on shipping and the supply / demand imbalance. https://www.hondadesanjuan.com/
If you would rather keep your current car, there are a number of services that will help you transport your car to San Juan from the US mainland.
https://www.puertoricocartransport.com/ Though note there is a sales tax when your car arrives, so the more valuable your car is the cheap it is to ship vs. buy a new car. The break even is likely a car with more or less than $25,000.
Seven, Use The Puma App
Once you have your car and go to the gas station for the first time you will notice that unlike the mainland, they don’t use credit cards at the gas pump. So the trick is to download and use the PUMA app and you can pay via scanning a QR code at the pump instead.
Eight, Opening a Bank Account
Some of the banks aren’t welcoming to new accounts which are opened by ACT 60 investors (First Bank). The friendliest bank I’ve talked with is currently Banco Popular who recently switched their polices to being crypto / Act 60 friendly.
Nine, Faith Community Options
Each time my wife and I have moved to a new city its not until we connect in with a faith community that we really feel like we have found our new “home”. So I highly recommend checking out the different faith based communities in Puerto Rico.
There are a variety of Christian, Catholic and Jewish places of worship within close proximity.
Jewish Community Center: https://www.facebook.com/ChabadPR/
Ten, Becoming An Official Puerto Rican Citizen
After you live in Puerto Rico for 1 year you can file to become a Puerto Rican citizen. You keep your US passport of course and this process does not give you a new passport, but for $30 USD its a good way to show off your pride in your new identity and has the added benefit that Spain and Portugal will treat you as an “Iberian Person”. This qualifies you for a shortened 2 year process for becoming a Citizen of Spain or Portugal if you ever decide to apply for a European passport.
https://www.estado.pr.gov/wp-content/uploads/2014/12/SC01.pdf
Have more tips?
Let me know and I’ll add them to the list : )
