CNN Money Talks to Peter Schiff: Puerto Rico the Next Singapore?

Jon Market Commentary

‘Let’s say you want to start a business. Just start it in Puerto Rico. Why would you start it anywhere else?’ This is what Peter Schiff told CNN Money in anarticle published yesterday. Peter and John Paulson are two of many successful investors CNN mentions as moving their businesses – and eventually themselves – to Puerto Rico.
CNN floated the idea that Puerto Rico could become the next Singapore by continuing to attract businesses with the tax advantages. Peter was the focus of their article:
Peter Schiff moved his asset management firm from Newport Beach, Calif., to San Juan in 2013. Schiff has bought a house in the Ritz Carlton compound just outside San Juan and water is not a problem for him. He plans to move there once his son graduates from high school. Individuals must live in Puerto Rico for 183 days a year to qualify for tax breaks.

This post was published at Schiffgold on AUGUST 6, 2015.