JS 85: Bitcoin & Doing Business in Puerto Rico with Nick Giambruno Senior Editor at Casey Research

Nick Giambruno has lived in Europe, worked in the Middle East, and knows the ins and outs of Puerto Rico's tax benefits. This is the second time he's talked to Jason about Puerto Rico and shares some great insight on how Jason's US citizens can take advantage of Puerto Rico's laws. Jason and Nick also talk about Bitcoin and US global income tax on today's show. 

 

Key Takeaways:

2:40 – You can move your business to Puerto Rico to get great tax benefits. Nick explains how you can do this in this segment. 

9:30 – You don't have to move to Puerto Rico to take advantage of Puerto Rican tax benefits, but if you do, you can receive extra benefits as well.

11:00 – Puerto Rico doesn't want you to just setup an entity on their soil, they want you to employ Puerto Ricans as well.  

13:10 – Virgin Islands verse Puerto Rico? Nick explains the difference and why Puerto Rico is better. 

17:15 – Jason and Nick both love the concept of Bitcoin, but they don't see how it'll work without the support of the central banking system. 

24:00 – Jason talks about the possibilities of making Bitcoin illegal and what that would mean. 

26:30 – Nick does a quick overview of what it means to move to Puerto Rico for those who are interested. 

32:45 – Jason and Nick talk about global income tax. Jason says people think if they have a US passport, they'd get US government protection, but that's simply not true. 

36:22 – Final thoughts? Nick says if you can structure your business to take advantage of Puerto Rican tax benefits, then do it! 

 

Mentioned In This Episode:

http://www.internationalman.com/articles/puerto-ricos-tax-incentives