Most people are aware that the Phoenix metro area has had a good number of foreign investors in real estate, particularly in recent years. Our friends from Canada have been here for many years.
Recently I was asked to participate in a seminar in Scottsdale sponsored by a company from Australia. This company brought a group of sixty people from Australia and New Zealand to scout out real estate in the Phoenix-Scottsdale area. I was asked to speak on the choice of proper entity in acquiring U. S. real estate.
Unlike the normal entity used for U. S. citizens and residents, a person from abroad may need to utilize an entity other than a limited liability company in light of the income tax treaty between the U.S. and that country and other business considerations.
I’m not sure what this particular group wound up purchasing, but reducing the glut of unsold real estate in the Phoenix metro area is probably a good thing in the long run.
Michael W. Margrave