New financial incentives for medical tourism companies in Puerto Rico

Puerto Rico has several new measures to attract more investors and added medical tourism to the list of accepted services.

Puerto Rico’s governor has signed several measures to attract more investors and attract new companies to a U.S. territory mired in a deep economic crisis.

One of the amended laws signed by Ricardo Rossello requires at least $5,000 a year in donations to non-profits to qualify for a break on capital gains taxes.

Amendments give tax incentives to companies that move to the island and export goods or services. It drops a requirement that companies under the programme employ a minimum of five people and adds medical tourism and telemedicine to the list of accepted services.

Puerto Rico is trying to escape from a decade-long recession and seeking to restructure a portion of its $73 billion public debt load.

To promote, attract and develop key industries, sectors and activities, Puerto Rico offers a spectrum of economic incentives, among them low fixed income tax rates, partial and/or total tax exemptions, income tax credits and special deductions.

Medical tourism is now among the tourism sectors that may enjoy the benefits provided under Puerto Rico’s incentives laws.