(via GQ) – A year after the tragedy of Hurricane Maria, the “51st state” has become the favorite playground for extremely wealthy Americans looking to keep their money from the taxman. The only catch? They have to cut all ties to the mainland (wink, wink).
The party known as Cocktails and Compliance—so called for mixing alcohol with tax advice—was thrown on a Friday evening in May, in a warehouse turned art gallery in Old San Juan. The host had kept his guest list confidential: It contained the names of hundreds of ultra-wealthy mainland Americans who’d moved to Puerto Rico to avoid paying taxes, most of whom were reluctant to advertise that fact. More than 1,500 mainlanders have established residency here since 2012, when the island rebranded itself as a tax haven, and the annual Cocktails is at the center of their social calendar. Continue Reading>>
