Real Estates in the United States
The United States ordinarily places no restrictions on foreigners concerning the ownership, purchase or transfer of real estate, except where national security is at stake. A foreigner's right to own, purchase, or transfer real estate may be limited, however, by various federal and state statutes that restrict the ability of a foreigner to acquire or dispose of certain real estate or to make testamentary dispositions to foreigners from countries that prohibit similar dispositions to U.S. citizens. Also, there are numerous reporting requirements for foreign investors as well as for sellers of real estate to foreigners. The reporting requirements incorporate look-through mechanisms which make it relatively difficult to set up tiers of domestic and foreign entities in order to make the ultimate ownership of real estate by foreign persons more private. Furthermore, failures to report may be punished with severe penalties, ranging from up to 25% of the fair market value of the real estate even to imprisonment.
Advice on acquisition of U.S. real estate
The acquisition of real estate abroad requires careful and professional planning. Every day, individual clients as well as other law and consulting firms worldwide rely on us for specialised advice in this area. No matter how complex your needs are, Henley & Partners will be able to advise and assist you. Contact us today for individual advice and comprehensive, yet cost-effective solutions regarding the acquisition and holding of real estate in the United States.