Techno Inventors, Inc. (Techno Inventors of Puerto Rico) is a non-profit organization incorporated in March 2012 under the laws of the Commonwealth of Puerto Rico. Its founder and Executive Director, Mr. César Cabrera, an electrical engineer, works as a professor of automation and robotics at the Polytechnic University of Puerto Rico. Our exemption number is Internal Revenue Code 2012-1101.01-189 (state) and Internal Revenue Code section 501 C (3) (federal).
Tax Exemption Validity 2023
Certificate of Good Standing
List of non-profit entities
Benefits of Puerto Rico
If you are an American citizen or resident who loves the sun, Caribbean culture and generous tax benefits, and also understands the need to impact youth and adults from low-income communities by improving their skills in STEAM, Engineering, eSports, Robotics, Automation and Technology you're in luck: Puerto Rico offers a multitude of lucrative tax benefits to US citizens and residents.
The most popular are Law 60 of Export Services (previously Law 20) and Law 60 of Resident Individual Investor (previously Law 22), with thousands of decree holders who have collectively saved millions during the years in which the incentives have been in force.
The tax benefit of Law 60 of the Resident Individual Investor is aimed at people with a high net worth who are willing to move to Puerto Rico in exchange for a tax rate of 0% on income from interest, dividends and capital gains. To benefit from the incentive, the holder of a decree must meet certain criteria, including establishing residence in good faith in Puerto Rico and submitting an annual report to maintain compliance.
Another important condition that individual resident investor decree holders of Law 60 must meet to enjoy the 0% tax rate on capital gains is an annual donation of $ 10.000 to non-profit organizations that meet the requirements in Puerto Rich.
Holders of Law 22 are only required to give a donation of $ 5,000, but holders of the decree of Law 60, which was signed in July 2019, replacing Law 22, must donate double the amount. The holders of the decree can freely choose the organization to which they donate as long as it meets the requirements of the government of Puerto Rico.
How It Works
Act 60 Decree Holders
All those who submitted their request for this tax decree after July 2019 are subject to the new rules of Law 60 of a donation of $ 10.000. Eligible non-profit organizations are subject to the same rules as Law 22 decree holders: they must operate within Puerto Rico and not be owned or operated by the donor, their family, or their partner. Law 60 decree holders must also make their donation before December 31 and demonstrate their donation in their annual report in May of the following year.
Like in Act 22, Act 60 decree holders also generally have free choice of where their donations go, contingent on a few conditions. The first $5.000 is earmarked for a nonprofit listed by Comisión Especial Conjunta de Fondos Legislativos para Impacto Comunitario (CECFL), which updates its list of nonprofit organizations yearly.
The remaining $ 5.000 can be donated to any non-profit organization that operates in Puerto Rico and that is included in section 1101.01 of the Puerto Rico Internal Revenue Code. While Law 22 decree holders are restricted to Section 1101.01 (a) (2) organizations, Law 60 decree holders can donate to any Section 1101.01 non-profit organization, therefore They have a wider selection.
Despite the annual $10.000 donation requirement, the Act 60 Individual Resident Investor tax benefit can result in significant tax savings for decree holders. Many decree holders also fall in love with Puerto Rico upon their move to the island and enjoy their days on the beach under the Puerto Rican sun while reaping the benefits of Puerto Rico’s lucrative tax incentives.
Act 22 Decree Holders
If you already have an Act 22 decree, your donation obligation hasn’t increased. As long as you donate at least $5,000 to (Techno Inventors, Inc.) a Puerto Rican nonprofit certified under Section 1101.01 (a) (2) of the Internal Revenue Code of Puerto Rico, you have satisfied the annual donation requirement for Act 22 maintenance. The nonprofit must not be owned or controlled by the decree holder, any of their relatives, their spouse, or their partner, but otherwise, decree holders have free choice of which organization to donate to.
To be compliant with the regulations, you must make the donation before December 31 of each year. In your next annual report, filed each year in May, you must attach evidence of your donation, thereby demonstrating compliance.
55 Calle Alhambra, San Juan PR 00917