San Juan IncentivesSan Juan, the capital of Puerto Rico, recently launched a municipal incentive program that complements the national-level economic development incentives. Qualified businesses can now receive significant municipal tax exemptions for (5) five and (10) ten year periods. The program aims to attract investment from new businesses and qualified existing businesses that operate in designated development zones within the city. San Juan's goal is to promote sustainable economic growth and new commercial activity that result in more jobs and real-estate development. The designated areas are:
- the Santurce Urban Center;
- the Río Piedras Urban Center;
- the Condado area;
- the San Juan islet; and,
- other zones within the municipality's Territorial Plan, such as: La Perla, El Gandul, Parada 27, Villa Clemente, Cantera, Quebrada Arenas, Puerta de Tierra, Trastalleres, Villa Palmeras, Barrio Obrero, and Cupey Alto.
- Municipal License Taxes for a period of five (5) years;
- Personal Taxes for a period of five (5); and,
- Real Property Taxes for ten (10) years.
- An exemption from Municipal License Taxes for a period of five (5) years (the percentage will be determined on a case-by-case basis); and
- One hundred percent (100%) exemption from Personal and Real Property Taxes for a period of five (5) years.
For businesses looking to grow or expand to Puerto Rico, San Juan is offering significant incentive to do so within the capital region.