How can I buy U.S. property? To buy U.S. property, all you need is a tax file number from your country To sell U.S. property, or to refinance your property, yes, a U.S. tax I.D. number is required. And yes, we can easily help you to get one. Do I need a U.S. tax I.D. number? I’m not an American citizen. I don’t have a social security number. If you’d like assistance in obtaining a U.S. tax I.D. number and you’re already a client contact us. We’ll get you in touch with the appropriate members of our professional team. Do we need to have a U.S. address? You need to have registered agent in each state where
an LLC is formed. We provide this service for you. To build corporate credit you need to have an address separate from the registered agent.
What are the tax implications of owning U.S. property? Since you’ll be making money in the U.S. the IRS will tax you on your income. We strongly encourage all of our overseas clients to find a Certified Public Accountant to help avoid unnecessary taxes. If you’d like assistance in finding a qualified tax accountant, and you’re already a client, we can introduce you to members of our professional team who are qualified in these areas. | Is it better to form separate LLCs in other states? One strategy is to form LLCs in the states where the real estate is located (as long as their laws are strong enough) and then have each of those LLCs held by a Michigan LLC for the superior asset protection. Some states, such as California, have very weak asset protection laws. You would not want to form a California LLC. Instead, you would set up a Michigan LLC qualified to do business in California. Do I need to form a separate corporation to act as the manager for the LLC to keep the money in the U.S.? While not required, it is a good strategy to have a separate management corporation which can manage and hold assets in the U.S. We can set up a C corporation to manage your LLCs. Do you obtain our ITIN? We are not able to obtain ITINs for foreign individuals. How to I obtain an ITIN? There is a form which needs to be filed with the IRS. The IRS also has a service through Accepted Agents who can assist with the process. In many cases, when you file your first LLC tax return the IRS will then assign you an ITIN. |
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