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Tourist Marinas
Tax incentive for tourist marina development and operations, supporting recreational boating and nautical tourism infrastructure.
8 min
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Section Code:
1020.051 (a)-17
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Purpose:
Visitor Economy — 1020.051 (a)-17
Overview
The Tourist Marinas designation under Section 1020.051(a)-17 of Act 60-2019, as amended, provides preferential tax treatment for marina developments and operations serving recreational boating and nautical tourism. This designation supports marine infrastructure that enhances Puerto Rico's appeal to boating tourists and yacht visitors.
Qualifying marina operators may receive reduced corporate income tax rates, property tax exemptions on marina facilities, and municipal tax relief. The program attracts marina developers, yacht club operators, and recreational boating facilities.
The key distinction is its focus on marina infrastructure serving recreational vessels rather than commercial shipping or fishing. Tourist marinas provide berthing, services, and amenities for pleasure craft and tourism vessels.
Key Benefits
Reduced Corporate Income Tax Rate
Marina operators may receive reduced rates on income from slip rentals, services, and marina operations.
Property Tax Exemptions
Marina facilities, docks, infrastructure, and equipment may receive property tax exemptions.
Municipal Tax Relief
Marina operators may receive exemptions from municipal license taxes.
Nautical Tourism Support
Marinas provide essential infrastructure supporting yacht tourism and recreational boating activity.
Requirements & Obligations
Marina Facility Standards
Marinas must meet standards for recreational boating facilities including appropriate berthing capacity, services, and amenities.
Operational Requirements
Marinas must maintain quality facilities, safety standards, and services for recreational vessels.
Environmental Compliance
Marina operations must comply with marine environmental regulations and coastal management requirements.
Employment
Marina operators must employ Puerto Rico residents in marina operations and services.
Reporting
Annual reports document marina operations, vessel activity, revenues, and employment.
How to Apply
Applications typically require twelve (12) to twenty-four (24) months given marine infrastructure complexity. Applications include marina development plans, environmental assessments, facility specifications, and financial projections. Upon approval, operators complete development and commence marina operations.
This information is educational and should not be considered legal or tax advice. Applicants should consult with qualified legal and tax professionals familiar with Puerto Rico incentive programs before making any business decisions or submitting applications.
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