ACT 20 – Export Services Act – for establishing a business with 3 or more employees
ACT 22 – Individual Investors Act
You can fill out the forms on your own or pay a lawyer $1000-2000 to do it for you. I recommend doing it yourself, especially if applying for Act 22, because the forms are fairly straightforward.
You can apply for Act 20, Act 22, or both.
You truly have to move to Puerto Rico and have a closer connection to Puerto Rico than the states for Act 22. The consequences for failing to comply mean that you would lose your tax benefits retroactively. You have to live 183 days or more in Puerto Rico, or at least live more days in Puerto Rico than the states.