Posted by JHyre in Ohio on January 31, 2002 at 18:18:08:
One problem…US tax is IN ADDITION to local taxes! Most foreigners try to to avoid US taxation at all costs…the attorneys in the jurisdiction should be able to help you make a good decision…often, Cayman, Cypriot and Netherlands companies are good if the home jurisdiction are not suitable. Make sure that whatever you use has a good treaty with Canada as well, should you ever wish to repatriate funds.
John Hyre
Question on US Corps/LLC’s/Trusts - Posted by John (Rome)
Posted by John (Rome) on January 31, 2002 at 05:44:05:
Hello,
a) is it possible for US entities such as Corps and LLC’s to invest in properties abroad?
b) can those properties bought/controlled abroad be put in a US Trust?
c) is US citizenship/residency necessary to form the above? (I’m Canadian - in Italy)
Thank you
John
Re: Question on US Corps/LLC’s/Trusts - Posted by JHyre in Ohio
Posted by JHyre in Ohio on January 31, 2002 at 06:56:50:
Yes to a) & b), no to c)…use of the above entities subjects you/your entities to US tax…I would really reconsider using US entities for overseas transactions.
John Hyre
Re: Question on US Corps/LLC’s/Trusts - Posted by John (Rome)
Posted by John (Rome) on January 31, 2002 at 15:37:42:
well…I’m considering it for various reasons…taxes here aren’t exactly cheap…cost of doing business (let alone setup an LLC) is high… and trusts…well those I’m meeting with my lawyer tomorrow to discuss…along with a few other odds and ends…you see in the US it’s largely 1+1=2…here it’s a+(b/c)*d=g g then has to be divided by 98% of 50% of d/.0556…etc…so the US doesn’t seem too bad for me…then again I have to find out IF I can operate this way according to Italian law…well see…thanks for the reply anyways.
John