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Puerto Rico, recently rebranded under Act 60 (formerly Act 22), offers an enticing opportunity for crypto traders by exempting them from capital gains taxes, which can be as high as 20% to 40% in the U.S. This incentive is particularly appealing for those heavily invested in cryptocurrency. Colin emphasizes, however, that this is not financial advice; rather, it’s a personal narrative reflecting his journey.
For Colin, the fiscal benefits of relocating to Puerto Rico must outweigh the lifestyle changes and upheavals involved in such a move. He suggests that a minimum savings of $150,000 per year from tax relief would justify the transition, which he estimates requires a portfolio of around $500,000 in crypto assets to achieve.