logan paula influencer and personality of Youtube who moved to Puerto Rico in 2021 to avail himself of the benefits granted by Law 22 for so-called “resident investors”, highlighted his frustration at being singled out as “a vulture” in the video report “The Blackout – Here Lives People ”, published on September 16 as part of the popular theme song by urban artist Bad Bunny.
Incidentally, the also boxer and fighter who participates with World Wrestling Entertainment (WWE) maintained that Benito Antonio Martinez Ocasio, b.eitherBad Bunny’s real name, “is a Puerto Rican who lives in Puerto Rico and who, in private, takes advantage of the same tax (benefit) program that he criticizes in public” Y which is the subject, in part, of the 20-minute report published on YouTube, while participating in an episode from another YouTube personality’s show, Philip DeFranco.
DeFranco immediately asked Paul if what he just said was true, to which Jake Paul’s brother, a boxer who also moved to the island under the tax benefits of Law 22, replied “I know that and I see stuff like that, and it hurts. There are Puerto Ricans who also know about this, and when I see this video (the report ‘El Apagón’ from Bianca Graula) that has me stuck in the middle and surrounded by context that makes me look like a vulture in Puerto Rico, although I love Bad Bunny, I personally cannot support the hypocritical nature of his exploitation.
However, Paul did not show any evidence, or mention names of people who know, firsthand, that Martínez Ocasio benefits from the provisions of Law 22, known as the Law to Encourage the Transfer of Individual Investors to Puerto Rico. (now housed within Law 60, known as the Puerto Rico Incentives Code).
DeFranco invited Paul to his program to express himself about the criticism he has received after moving to Puerto Rico under the auspices of Law 22. In the almost half-hour segment, Paul maintains that he has given himself the task of helping Puerto Ricans, he just doesn’t promote it on his social media.
In addition, she highlighted that she recently donated $25,000 to Taller Salud, a nonprofit organization dedicated to improving women’s access to health, reducing violence in community settings, and fostering economic development through education and activism. . She mentioned that she, along with her brother Jake Paul, have renovated two boxing gyms, one in the La Perla neighborhood and the other in Dorado.
“This is our home, this is our island, and while I understand that many people who benefit from the 20/22 Laws have a bad reputation because in any business where money can be made there will always be vultures, it’s easy to take aim at me and towards my brother as the ringleaders. We have lived in Puerto Rico for a year and a half, we have renovated two gyms, we have donated to help after the impact of hurricane fionamy brother signed (the boxing multi-champion) Amanda Serranowho used to make $10,000 a fight and is now making millions with Jake’s promotion company,” Logan Paul said.
“I agreed to be on your show because I’ve seen this narrative develop (negative towards foreigners,) this sentiment against Jake and against Logan, and I want to make it clear that I’m an ally, or would like to be considered an ally. . I understand if that doesn’t happen right away, but when I do these things, I don’t post or promote them. The last time I was lucky that I was with people who contacted you and sent you photos and information about what I was doing (delivering aid after Hurricane Fiona)”, stressed Logan Paul.
The new day tried to verify, in the portal of the Department of Economic Development and Trade (DDEC) if Bad Bunny, in effect, is a beneficiary of Law 22, but the system, at the time of publishing this story, was not working.
Law 22 grants an exemption in the payment of taxes to people who have not lived in Puerto Rico for 10 years or more and who wish to return. Under the exemption, a person does not pay taxes on earnings from investments such as real estate and stocks, along with other benefits.
However, the urban artist would not qualify to benefit from Law 22, under the current statutes, since he resides on the island and has not lived exclusively outside of Puerto Rico for 10 years or more.
Yes, you could qualify to benefit from Law 20 (Ley de Exportación de Servicios), which would allow you to pay 4% taxes for all the businesses you carry out outside of Puerto Rico. The vast majority of individuals and businesses that benefit under Law 20 are Puerto Ricans or Puerto Rican-owned.
In a past interview with El Nuevo Día, the former Secretary of Economic Development, Alberto Bacó, explained that among the main requirements to benefit from Law 20 is “have a corporation or a type of instrument such as an LLC that operates in Puerto Rico and renders services outside of Puerto Rico.”
From the Registry of Corporations of Puerto Rico, it appears that Benito A. Martínez Ocasio appears as a person authorized by the entity 200 Carros LLC, active since 2018.
“I love Bad Bunny, I think he is an exceptional artist, a generational talent, but I find the situation hypocritical. Like I said, there are a lot of people who know about this and I’ve heard rumors that there’s a reporter on the island who’s working on a profile… but again, I’m on the show because I feel like this anti-Logan narrative that’s being developing on the island is becoming a fire that is no longer easy, for me, to ignore”, pointed out, for his part, Logan Paul.
“I’m here to help. She has only been on the island for a year and a half with a program (Law 22) that has been going on for nine years. I just arrived, so how can I help them (the Puerto Rican people)? Help me help you,” she stressed.