On Wednesday of this past week I attended a seminar on ways to assist foreigners who are looking at investing in US properties. The seminar was presented by Bonnie Simon of Corporate Credibility, LLC. She has been in the business of helping non-US citizens purchase property here since 2005.
Bonnie went over some of the major obstacles that foreigners can face when they are considering purchasing property in the states and some of the ways that these issues can be overcome. She stressed the importance of forming an LLC for the properties as that would eliminate many of the major tax hits that non-US citizens face when they buy investment property or when they are planning on selling their US assets.
Some of the tax issues that investors can face include having to pay a 30% tax on all gross rent collected throughout the year and being taxed 10% of the sales price when they sell their investments.
Her company can assist with the setting up of an LLC, setting up bank accounts for tenant deposits and transferring money to get the transaction completed. They have worked with clients from all over the globe and are very professional in their dealings with their clients.
This seminar was very educational and informative and if anyone has an interest or needs more information on how to get started or wants to contact Bonnie’s company directly please feel free to let us know and we can put you in touch with them.