FAQs

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 yeswe 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.

How long does it take to form the LLC?       

Allow at least a month for the whole process to be completed.  Michigan 

has electronic filing that allows minimal processing time. (Approximately

 3-5 business days.)


Is it better to be manager managed or member managed?

We prefer that you have your LLC manager managed to keep ownership

 information out of the public record.  A member (owner) managed LLC 

has to identify the LLC owner.  As well, if privacy is important we can 

provide a nominee officer or manager for $650.00 per year so that your 

name is kept private.


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.


Can we use one Michigan LLC to own property in other states?

You can form a Michigan LLC and qualify the Michigan LLC to do 

business in the state where the real estate is located.