Ask HN: Has anyone moved to Puerto Rico, was it worth it?
I'm interested if anyone has moved to PR from the United States for financial reasons and if so, what their experience was/is.
Puerto Rico is a truly beautiful place. But it’s definitely not just another US state but in the Caribbean.
Everyone I know from PR moved to the states when possible, but then again, I wouldn't know people who moved the other way.
More seriously, is this something that's true of territories in general. I was reading the other day and was kinda disappointed I can't even visit most territories.
I know we can go to Guam, PR, what territories can't we visit?
Some of them have very good reasons, for example at least one was a nuclear test site. One of them is visitable, but you basically have to sail a private boat (I wonder if a rental is fine) from Hawaii to reach it and iirc need to get permission ahead.
I’ve followed some of the press about attempts to bring in tech sector resources through tax breaks. One of the big issues is localized pressure on housing costs in prime areas, such as Rincon.
Bottom line seems to be that the scene is focused on the elite rather than creating an organic environment. I’d be pleased to read articles contradicting this view, if any.
Contrast also with some increasingly successful efforts to diversify and localize the restaurant and food supply sectors.
‘Crypto colonizers’ in Puerto Rico try to sell locals on the dream - https://www.washingtonpost.com/technology/2022/01/13/crypto-...
The Rush for a Slice of Paradise in Puerto Rico - https://www.nytimes.com/2022/01/31/us/puerto-rico-gentrifica...
How Crypto Wealth Is Gentrifying Puerto Rico - https://www.nytimes.com/interactive/2022/02/10/business/puer...
Reclaiming Puerto Rico’s Food Paradise - https://www.nytimes.com/2015/02/18/dining/reclaiming-puerto-...
Is America's best restaurant in Puerto Rico? - https://www.bbc.com/travel/article/20220215-is-americas-best...
There are many considerations you need to make if Act 60 is what you're referencing. To name a few considerations:
1. Cost of living in Puerto Rico is quite high. Expect to pay roughly double for the same foods you would anywhere else in the US, in terms of eating out OR the grocery store.
2. Applying for Tax Act 60 is a fairly lengthy process - depending on what service you go with, it can cost upwards of $20,000. This is just for the application, not for the other requirements it has such as becoming a "bona fide" resident.
3. This one is fairly minor, but worth noting. Puerto Rico moves at a difference pace than the rest of the US. Many online services we take for granted just don't really exist here. Schedule a doctor apt online? Buy car/medical insurance? Bank services? All of those either happen on the phone or in person. If you don't know spanish, this can be difficult to navigate.
I don't say this to dissuade you, just to recognize there are unexpected considerations to make that might not be immediately obvious/expected.
Some family who live part of the year on the island will schedule all medical visits in the USA to avoid the waiting.
This includes online shopping. UPS and FedEx's rates for delivery to PR are much higher than on the mainland, so almost all sellers that use those carriers won't ship to the island even if the item is small enough for USPS (which does not charge more). Same with Amazon, although there is a chance a third-party Amazon seller will.
The exceptions are very large items or sometimes items with batteries.
It's a bit of a pain but you can deal with the freight forwarder for large items, or reshipper for smaller if you really want something that's not available elsewhere. I've had success asking sellers to ship something via USPS even if they don't do it normally.