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Updated about 7 years ago,
Investing in the US as a foreign person
Hi BP,
The community has always answered all of my questions, or at the very least, pointed me in the right direction. I have a rather complex question that I was hoping someone could help.
I am in the US. Active in my local market doing rental real estate and residential new construction.
My parents live in South Africa and are South African citizens. They want to start investing via me in the US.
They are not US citizens, and do not have social security numbers.
My question is.....HOW?
Do I form a family trust and I be the trustee? I have been leaning towards doing a trust. My biggest thing is in what legal entity should they own the homes. Should it be an LLC?
Taxes? Gosh I can't imagine how complicated this will get. Everytime I read through a tax form and see "if anyone is a foreign person" it makes me hurt thinking how complicated that must be
Not too concerned on them getting loans as they will be paying cash.
To summarize I will be effectively doing the investing on their behalf, but would like for THEM to have legal ownership of the subject property.
Thanks in advance!
- Luka Milicevic