Approved for Puerto Rico Act 22 Application!

UPDATE: SIGNED ACT 22 DECREE RECEIVED

I just got an email this morning stating my Act 22 Application has been approved and now awaiting my $5,000 payment! My Act 20 Application is now “Eligible Case” which was defined in a previous email I received at the beginning of the process:

o   Act 20: it means that the draft of the decree has been sent out to the agencies for their determination or recommendation. It has a time frame of 20 working days, however the public policy of this administration is that no case will be approved without the recommendation of the Department of Treasury.  Once we receive the recommendations of the agencies, we send a final draft of the decree, where a team of the DDEC will evaluate your petition, this will not change the status but we call it the Final Stage. Once they understand that the case is ready for approval they send it to the Secretary of DDEC.  Once we receive it the status will change to Approved and we will contact you so that you can pick your decree or we can send it by mail.

More info on the history of my process can be found at this link.

Puerto Rico Act 20 / 22 Tax Incentives – How to Apply Yourself for $450.00 | Self-Help Resources