Comments by "S. Moore" (@SMoore-vj7bt) on "Four Reasons I Didn’t Move to Puerto Rico (and Why Perhaps You Should)" video.

  1. There will be no social security.
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  2. I lived in the Philippines from 1995 to 2020. The Philippines has turned into a prison. Even the beaches are off limits. I have no interest in going back there until the situation radically changes.
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  3.  @furenaef  no. You must be physically present in PR for more time than any other country. Mexico would claim you as tax resident and if they do not, then the IRS would.
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  4. Of course it’s not for someone who needs a lifestyle choice, unless for the few that just like that life. It is for those who want to save $millions on taxes and willing to endure the lifestyle.
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  5.  @markmccrimmon  the senator that introduced the bill is the head of the leftist PNP party which Wikipedia says lost seats in the 2020 elections and although they won the governorship but with only 33% of the vote (down -8% from the 2016 elections). Looks like the politics of PR is a fractious as in the USA. I bet they can’t pass the law at least not in 2021. Eventually they might pass it as the global economy craters but apparently extant Act 60 decrees would be grandfathered. Yet another reason to accelerate plans for those who want to avail of Act 60. If they pass that it will be economic suicide, but that’s what leftists excel at creating. If the leftists take over PR, it will be doomed.
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  6. Listen to his video on why he left Latin America. I've noticed he tends to judge countries by how much he likes their largest cities. He loves high end, luxury shopping. He mentioned in one video that he liked Malaysia because there are two Gucci stores within walking distance from his place 😆
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  7. The 10 year only applies to gains for the value of your assets on the day you move. If you wait 10 years to sell then only 5% CGT on those instead of paying the IRS for that portion of your capital gains.
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  8. @neworthodox what agency are you using?
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  9. For most people PR could be a major sacrifice although some people seem to rave about the island. For high networth individuals it may be worth the sacrifice and they could buy what they need to be comfortable there.
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  10. The population of PR is 3 million. The Act 60 decree holders are in the few thousands. They are required pay $10k per year to charity in PR. Your frustration should be directed instead towards corruption in your own government. You know the leftist ones that propose to raise taxes to improve your life while they deposit it in their back pockets. And perhaps to the original treatment of PR by the U.S.. Please don’t blame those willing to invest in your territory and hopefully be a driving force for positive change. Ricans have U.S. citizenship so they are free to go to the U.S. to see better economic opportunities. Reciprocally U.S. citizens have every right to move to PR.
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  11. For Act 60 ideally you should submit your application before the end of 2021 to frontrun the avalanche of applications in the New Year. Else before June is essential.
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  12. Specific things that annoyed you? The mosquitos, noisy, brownouts, climate, the culture?
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  13.  @anafranco5733  absolutely. If I move to Mexico or Peru it will only be if I can buy 10 hectares to keep the noise far away. And yes I like my silence so I can concentrate on my intellectual activities.
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  14.  @anafranco5733  Estados Unidos = Fascism
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  15.  @anafranco5733  I am not afraid to die. Bring it on.
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  16.  @biggatap  let’s see what happens with the Philippines in the 2022 elections. For now it’s a no go zone except for those married to a Filipino/Filipina and who are willing to be vaccinated. Personally I refuse to take the jab, so I doubt I will be able to board a commercial flight from 2022 onwards. So I am focused on locations I can reach by yacht or overland. As for Thailand, you’ll probably need to be vaccinated. Requirements are changing. I have no experience with Vietnam.
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  17.  @biggatap  Are BVI nationals less afraid of the virus that only kills people who had the flu, cancer or other comorbidities (i.e. who were going to die anyway) or who were murdered with intubation by overzealous, bribed medical terrorism, than the Puerto Ricans who I have heard even wear masks inside their vehicles? P.S. same love to you brother. Thanks.
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  18.  @biggatap  Did you read my other comments on this page. Such as the following one I will repeat here for you… Don’t forget the SPARS pandemic which is scheduled to begin 2025 after the Covid-stan winds down into 2023. Appears WW3 with China is going to be Trump 2.0’s legacy. Asia could become horrible if the U.S. Navy blockades China but can’t dare send aircraft carriers into the South China Sea (hypersonic missles can sink them there), thus all of SE Asia may become a no go zone. In short, Asia is a really bad idea this decade.
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  19. Much cooler in the mountains.
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  20. The IRS has a detailed document on this. Google for it. It’s complex.
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  21.  @NN-oz6rr  correct unless you wait 10 years to sell, then only 5% CGT. If you put that $8MM in Bitcoin at $50k, and it goes to $250k in 2022, then you would have intense tax savings.
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  22.  @perfectkarma1209  well you need to make a 3 year commitment else it is not bona fide in the eyes of the IRS. And there are considerable expenses involved for the annual Act 60 renewal in addition to your moving expenses.
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  23. I doubt he can do that without being banned and probably also create acrimony in his industry connections.
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  24. Although moving to Puerto Rico may be an inconvenience and lifestyle sacrifice for many, what is it with this notion that paying income taxes is noble duty? Funding a mafia isn’t noble. It’s more noble to make the sacrifices to avoid funding the beast. I wrote the following comment on Nomad Capitalist’s video entitled Doug Casey: Financial Collapse of the USA in 2021 … The characterization of government as a mafia with it’s own interests at ~5min is correct. As for when the mafia took control of America as discussed at the ~9min mark, I suggest reviewing Anna von Reitz’s work on the dissolution of State citizenship and State governance that was never resolved in the aftermath of the Civil War. We all fooled into participating in that entirely unconstitutional coup d’etat which is still ongoing.
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  25. Not likely. Read the other comments about this for details.
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  26. It’s not a State though and this has some significant ramifications.
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  27. PR politics is very fractious. The governor only won with 33% of the vote in the 2020 elections. I doubt they can push it through and if so the U.S. Congress will probably not approve it.
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  28. That’s only on the portion of the accrued gain before moving there.
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  29.  @user-dy2qq5wh4b  nope. You will get caught and fined or jailed at some point. You may get away with it until you do not.
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  30. Indeed. I suppose he’s not able to talk about this without getting his channel banned or creating animosity in his connections in the industry.
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  31. Agree that the situation is fluid, but it is unlikely for that 12% raise to be passed in 2021. And extant Act 60 will apparently be grandfathered.
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  32. You need to reside in PR more days than you reside in any other country, to avoid other country claiming you as a tax resident. But you also had best only be in the USA not more than 90 days, else other requirements kick in for other tests of bona fide PR residency in terms of the IRS’ criteria. Also if less than ~5 months physical presence in PR, the IRS is going to be able to possibly make a case that you’re not a bona fide resident. I wouldn’t risk it. The minimum I would attempt would be ~4.6 months. Much better 5 months or even better the full 183 days.
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  33. Don’t catch bubonic plague and other nasty parasites and diseases from your cats. Pets are overrated. Recently a man had all his fingers amputated. Caught BBP from his cat.
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