Tue, Jul 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Rumor update: John Paulson is not moving to Puerto Rico after all

Monday, March 18, 2013

Benedicte Gravrand, Opalesque Geneva: - Earlier this week, there were rumors that billionaire hedge fund manager John Paulson was going to leave the U.S. for tax reasons and possibly go to Puerto Rico. Indeed, the small Caribbean island of Puerto Rico recently passed a law designed to attract the well-off, and Paulson was said to have looked at a penthouse in San Juan, Puerto Rico’s capital city.

But, according to Fox Business today, Paulson said in a statement that while he had "considered real estate investments and ha[d] vacationed on" the island, he had "no plans to establish a permanent residence there."

A Financial Times report explains that "under the Puerto Rico law, new immigrants who have not lived in the unincorporated US territory in the previous 15 years may be exempt from US taxes on capital gains accrued after they move there, in addition to income derived from Puerto Rican domiciled businesses. To take advantage of the new law a person must spend at least 183 days in Puerto Rico each year, and prove they have substantial family and social connections on the island." Ten wealthy Americans have already taken advantage of the year-old Pu......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  4. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by

  5. Winton’s low-cost equities fund tops $1bn for first time[more]

    From FT.com: Winton, the London-based hedge fund, has increased the assets in its low-cost equities fund to more than $1bn for the first time in a sign that traditional stock managers may come under increasing pressure from computer-driven rivals. Winton, which manages about $25bn in total ass