Clarifying some doubts about purchases from abroad:

Who qualifies as a foreign customer in the United States?
This is one of the first doubts that customers have and the answer is simple: any person or corporation that can prove that has the economic means to acquire a property whether in cash or through financing qualifies as a potential buyer.
Is it possible to acquire funding as a foreigner?
In the case of funding search, not all banks offer loans for aliens, because of this is most convenient to contact an expert n this kind of funding That could give you advice about the best options or choices That banks offer in this moment and not only that, the expert could also help you with the necessary paperwork for a completed application and increase your possibilities of being approved.
What kind of visa or status do I need to acquire a property?
This is a very common doubt and the answer is very simple too, since, evenif it’s possible to acquire properties by different structures and migration status, it’s also possible to purchase a property with a non-immigrant visa as the tourist visa, the most important is to show strength as a buyer and get advice with an international attorney with experience in taxes for aliens.
How do I start the process?
The first step is to contact an expert on real estate from the city where you are interested to purchase, and preferably Spanish speaking so that would make easier the communication during the process and is a good signal That he/she may refer you to the group of experts you will need in the process, as international and migration attorneys, financial advisors, experts on aliens funding, etc.

What should we do before investing?

Although, acquiring a property abroad can be a very smart decision, you must consider some key issues before buying:

Once you find the property in which you want to invest, before closing the trade it’s important to know that tax paying rules change according to the migration status of the buyer. Buying a property as a foreign customer and other categories, can generate taxes up to 40% at the time of transferring, giving away, selling or inheriting, so it’s necessary to consult with an attorney before closing the trade, so he/she can give advice and show the best way of acquiring the property avoiding those taxes or deducting most of them.

There are different modalities in which an alien can acquire a Property. Some of them are:

  • A Corporation
  • A Society
  • A Trust
  • A Limited Liability Company
  • A Co-ownership

You have to analyze circumstances and objectives to find the best option for the specific customer necessities. While some structures can work for a customer, they can be the worst option for another.

That’s why it is so important to have a group of experts to advice you at the moment of investing abroad. In other case, mistakes that can affect your future finances may be committed.