Why I Really Left PUERTO RICO

Why I Really Left Puerto Rico and Recommend My Clients to Not Move to Puerto Rico for Taxes.

In this video we talk about Puerto Rico, the tax haven island for US citizens and why I left Puerto Rico as a Puertorican myself. In a previous video I discussed why I left Puerto Rico and people were not happy, maybe I was a bit harsh. In this video I discuss the real reasons why I left the Puerto Rico lifestyle and why maybe you shouldn't consider living there yourself.

Puerto Rico is a beautiful island and the Act 60 allows you to pay very little taxes or zero capital gains taxes by living on the island but it's important to consider all the facts before you jump in.

Who is the Wealthy Expat?

The Wealthy Expat is run by Rafael Cintron, it's a Youtube channel and vision dedicated to helping you lower your taxes, get a second citizenship, and travel the World to increase your freedoms and happiness. Rafael Cintron is a 7-figure entrepreneur who's traveled to more than 60 countries, gotten multiple residence permits all over the World, and a second citizenship by investment. He is committed and passionate about teaching you these topics.

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DISCLAIMER: This video is not tax and/or financial advice. Any information or advice I give is purely based on my own experience and research. I am not a tax professional and/or lawyer and/or accountant so I am not liable for any steps you take to lower your taxes. I'm not a financial advisor nor do I pretend to be. Always do your own research.

[TheTruth-sdct]

This man is very honest and straight forward. I enjoy all his videos. No BS and totally accurate

[Adamlol]

Rafael,
You are the only “guru” I respect, keep doing what you’re doing

[Williamjclopez]

Hey man, I get bored here in Florida. I rather be in Puerto listening to the coquis and looking into the mountains from my abuelas balconcito. Everyplace has it's ups and downs.

[rowa]

I think he is totally right. At least i am not the only one sharing the same mindset. He’s content is great and extremely eye opening. Keep the great job Rafa!

[giuxliet]

Re: island mindset; Some people are more on the introverted side and they shy away from city life... regardless of what they're doing workwise - a beach town will always be preferable to a big city.

[evgaragepr]

Every people situation is different. For example, after living for several years in the USA I move back to my beautiful mountain and now I really enjoy my life. Less stress and more quality time with my wife and kid. For me the #1 priority is the time dedicated to the family and living in the states was taking away that privilege of spending more time with the love ones. Like some people said, everyplace has it’s up and downs. But definitely this island is a great place to live.

[kimpeater]

The biggest problem with living in PR or any other place with a low cost of living for a wealthy individual is the envy of the community. When many people in your area are struggling financially and they see your nice stuff, even if it's in a gated resort, it's not as secure as you think. And you didn't work so hard and make that much money only to feel imprisoned! But in Manhattan or Dubai or Singapore, millionaires are relatively common. You don't stick out as a target.

[astitvanigam]

Loved hearing your thoughts hear man - it's the same here in the Island of Ireland I have to say, no doubt.

[seans]

PR is the #1 place to be as a US citizen of sufficient net worth to reduce taxes. It is a good intermediate step before renouncing US citizenship

[nmnopnonldti]

Hola Rafael. ¡Me ENCANTAN tus videos! ¿Puedes hacer uno sobre como adquirir el Certificado de Ciudadanía de Puerto Rico para agilizar la obtención del Pasaporte Español en 2 años (en vez de 10 años) y no tener que renunciar al pasaporte de origen por ser país Iberoamericano? Creo que miles de Americanos se beneficiarían, independientemente de su origen. Y de una vez, que practiquen su español en Puerto Rico para pasar la prueba lingüística en España.

[alexmorales]

Can someone explain to me why are we comparing a small island to Dubai or any big city? Makes no sense.

[marting.]

People tend to have subjective views of the places that they somehow connect themselves to. Unfortunately it takes a bit of objectivity to make good decisions. Thanks for the video.

[annajanet]

GOOD Video; Everyone Needs More Than Thier Basic Salary To Be Financially Secured, The Best Thing To do With Your Money Is To Invest, Money Left In Savings Always End Up Used With No Returns.

[free]

I get the sense that the culture, community, and family bonds, which are integral part of island life, are simply not important to him. Amenities and economic opportunity are. Dubai checks those boxes.

[solmarieramirez]

As a Puertorican myself... Hard to hear, but sadly... True for the most part. Specially the government and criminality part. Also, you can be in a good area, but might have to drive by the bad ones to get there. Sad...

[felixolmo]

You admit that you exaggerated about Puerto Rico the way you made it sound like it was a dumped Puerto Rico is beautiful and little by little it will get more better but you can't compare it to Dubai is a very rich country and it's like everywhere around the world people always want to move to somewhere new and different that's your experience everybody has different experience some people might not even like Dubai and go to other places around the world you were born there and raised there you have a different perspective about the place all those people who go there love it and they love the lifestyle and they don't find it boring everybody has a different experiences

[redshoes]

Thank you for this video, sometimes it hurts to hear the truth but the truth is necessary. Thank you!

[dyqqwhb]

Each island is its own separate earth, therefore a persons consciousness reflects the limitations of the island mentality. Hawaii also is like this as Its not an expansive type of place, lot of drinking and weed= island vibes polynesian paralysis

[Kowsan]

Thank you for the video, I did not think you needed to apologize at all for your views. Its always great to have different perspectives from one another

[mississippiapple]

Don't apologize, you're doing great!