Best Strategy moving money from Puerto Rico To U.S.

Member since 2024 · 6 posts · 2 votes

Ok, so definitely not looking for legal advice here....But...

I know someone who has sold a business in Puerto Rico (7-figure sale) and is looking to move that money to the United States permanently. What would be the best strategy to do so avoiding unnecessary taxation.

Thanks!

1 Reply

41 views

Most Popular Reply

Aaron T.Pro Member

Developer · Aguada, PR · Member since 2014 · 928 posts · 279 votes

Quote from @Joseph Loprete:

Quote from @Aaron T.:

you looking for a vehicle to reinvest it or just wire from bank to bank?

Aaron -

Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.

We wire money on occasion from the US to PR and vice verse. no tax implications for moving money. or we also use US banks for PR income. It really all transparent to the banks. In PR when I take out large amounts they ask me what its for, I usually tell them to **** off its none of their business. my wife is more diplomatic. she tells them for "just in case for hurricanes".

1 Reply

See this reply in the discussion

6 Replies

Jump to latestLatest

Sort by

AJ WongBusiness Member
Real Estate Broker · Oregon & California Coast · Member since 2022 · 834 posts · 696 votes
2y
Premium RE, high COC return like a luxury STR or small balance multi family could be a good partial anchor.
541-800-0455
Sesemi | STR Brokers powered by Fathom Realty 516 Reviews
Website View Page
0 Reply
Aaron T.Pro Member
Developer · Aguada, PR · Member since 2014 · 928 posts · 279 votes
2y
you looking for a vehicle to reinvest it or just wire from bank to bank?
0 Reply
Joseph Loprete
OP
Member since 2024 · 6 posts · 2 votes
2y
Quote from @AJ Wong:

Premium RE, high COC return like a luxury STR or small balance multi family could be a good partial anchor.
AJ,
Would any U.S. real estate purchase be acceptable for this type of transaction? Would there be a capital gain tax to pay from the sale of the PR business once the U.S. real estate was purchased?
0 Reply
Joseph Loprete
OP
Member since 2024 · 6 posts · 2 votes
2y
Quote from @Aaron T.:

you looking for a vehicle to reinvest it or just wire from bank to bank?

Aaron -
Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.
0 Reply
Aaron T.Pro Member
Developer · Aguada, PR · Member since 2014 · 928 posts · 279 votes
2y
Quote from @Joseph Loprete:

Quote from @Aaron T.:

you looking for a vehicle to reinvest it or just wire from bank to bank?

Aaron -
Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.

We wire money on occasion from the US to PR and vice verse. no tax implications for moving money. or we also use US banks for PR income. It really all transparent to the banks. In PR when I take out large amounts they ask me what its for, I usually tell them to **** off its none of their business. my wife is more diplomatic. she tells them for "just in case for hurricanes".
1 Reply
Joseph Loprete
OP
Member since 2024 · 6 posts · 2 votes
2y
Quote from @Aaron T.:

Quote from @Joseph Loprete:

Quote from @Aaron T.:

you looking for a vehicle to reinvest it or just wire from bank to bank?

Aaron -
Looking for the best strategy to move the money from PR to U.S. whether that be a trust/RE/ or any other creative way to avoid a huge tax hit.

We wire money on occasion from the US to PR and vice verse. no tax implications for moving money. or we also use US banks for PR income. It really all transparent to the banks. In PR when I take out large amounts they ask me what its for, I usually tell them to **** off its none of their business. my wife is more diplomatic. she tells them for "just in case for hurricanes".

Very Nice, Thanks Aaron!
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.