The following is not advice of any kind. This is not tax advice. This is not legal advice. This is not life advice. This is not even a fortune cookie advice. This is solely my experience on moving to Puerto Rico to take advantage of the Act 20/Act 22 tax exemption. If you have PR tax or accounting questions, I can refer you to a Puerto Rican attorney and CPA who will competently answer them for you.
As part of my Tax Free Expat in Puerto Rico play by play, I’m writing all the details you need to know if you are moving to PR to take advantage of the tax benefits. Finding storage may not be on the top of your list, but as you figure out where you want to live in order to establish residency, you may need a storage unit to house your things.
Before my #NoCollusion, No Albania for TPOL, I began the process of applying for a loan and searching for a home. My goal was to be out of my Airbnb and into a home by the time I got back from my trip. That didn’t come close to happening. My loan application is still being ‘processed’ and I’m no closer to finding a home than I was in April when I decided to move to PR.
Over the process, I was glad that Iberia had honored the deal and that I was finally going to Albania. I Googled ‘Puerto Rico storage’ and found a place that said that the first month was free and that storage rates started at $11.
Of course when I arrived, I found out that I have to pay an administrative fee and that I needed a bigger locker to store all my things. Somehow, the price ended up being $120 including the lock for two months. With no other options, I signed the papers and was on my way to the airport. The Bachuwa Law in me feels that this was a bait and switch operation. It’s something I will investigate upon my return, but for now I am fairly confident that my stuff is safe and sound.