Opportunity Zone / Construction Tax / Etc

Hi
I purchased a house in PR last year and planning on major renovations to start end of the summer. I've been reading on the Opportunity Zone Laws recently implemented and the additional local laws PR has been trying to pass or already passed which are supposed to trim your construction taxes, etc
However I can not find legible information which properly explains the process of how to approach this, where to apply, etc
Just vague articles talking about writing a statement of intent to the Committee (what committee???) and if approved applying for the tax break.
Has anyone tried this already or can point me at the right direction?
Thank you

I don’t have information on this, but it is a good question.  I’ll be following this thread.

It's called Senate Bill No. 1147 and apparently they have been trying to pass it since November 2018. Found an article discussing it from April this year but apparently still not official. It's funny it's almost next to impossible to get any proper news reporting about what goes on in the PR Senate

I'm meeting with an attorney tomorrow afternoon to discuss pretty much the same thing. I can message you afterwards or you can set up an appointment directly with him. His name is Guardin Rojas Sosa, guardin[at]em-tax.com and 787-342-9012. He's in San Juan though.

Hey
Thank you!
Yeah if you don't mind just shooting me a message? As far as I can tell this is not a law yet officially?

You can also get in contact with a representative at Invest Puerto Rico ( www.businessinpuertorico.com). This organization has been assigned by the current administration to essentially promote all of the various incentives available to potential investors here on the island.  Last week there was a large conference at the convention center with the primary topic being  about the opportunity zone program and we got to see the governor sign a bill that added further benefits to the  program which should reduce greatly the amount of time it takes to get a project set up and running with the incentive.

Once on the website you can submit your info and a representative should reach out to you to provide further info.

Hello, I have detailed info on  PR opportunity zone that I can email you. Thanks, Raul ***

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Thank you Raul
Sorry I missed that
I'll PM you!

Great, please do

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