Dealing with the Foreign Customer
Why are the services of a US international tax law firm essential to the real estate professional?
My friend of over 35 years, Steve Cantor runs one of the best International Law firms in the US and was kind enough to share this article with me. Anyone who is a foreign person interested in investing in the US real estate market needs guidance from a tax law firm like Cantor Webb.
Unlike a domestic owner/investor in United States real property, the foreign investor/owner brings with him a completely different set of considerations which the real estate professional must take into account. The rules of the game are quite different in every aspect of involvement with real property from determining whether an individual or an entity should be listed as the purchaser on the contract, to how a rental property must be managed, to the procedures to be followed when the real property is ultimately to be sold.
Too often consideration of the United States income, gift and estate tax consequences of real property ownership by foreigners is either ignored or left to the end of the process resulting in significant and sometimes costly issues that could have been easily avoided through advance planning. No one size fits all – and each client’s individual circumstances and objectives should always be taken into account prior to determining a particular course of action.
Please click here for a complimentary copy of our in-depth memorandum in English, Spanish, Portuguese or other language at your request.
Cantor & Webb P.A. focuses exclusively on the representation of high net worth international private clients in the areas of tax and estate planning and real estate matters. Our real estate paralegal, Maritza Perez has been with us for over 23 years and has vast experience in handling real estate matters for our wealthy international clients. Our firm has a dedicated multi-lingual team of attorneys, paraprofessionals, accountants and administrative assistants that are readily available to provide assistance to our international clientele in Spanish, Portuguese, French, Italian, Dutch and Russian. Please let us know if we can be of assistance to you and your international clients who may be in need of our tax and legal services.