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Offshore in the USA.

Posted by Helena Grossberg on May 17, 2014
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Is there an advantage to open an offshore to buy a property in Miami? Or should I just open an LLC? Do I put it in my own name? What about the taxes?

These questions are common during the process of buying a property in Florida. We always recommend talking with an accountant and an attorney to analyze your entire family and financial situation to get the best advice.

Check here some of the legal entities you can choose to open in the US.
The purchase of a property in Miami can be in your name, but it is always recommended to be in a legal entity to limit your liability if a problem occurs. The US taxation will only focus on the property if there is income or at the time of sale.
If the investment purchase is not for rental, the ideal format is to open a limited liability company, or LLC, for legal protection of the property.

The LLC is not the best format for a foreigner to buy property if there will be any rental income. This is because an LLC, even though it is an excellent legal tool, does not offer the financial advantages, as an LLC pays taxes as any other person does.

The LLC is a company, and for fiscal benefits, the ideal is to open a corporation, with a different structure. Even better, is to open a firm that owns the LLC. It can be a holding, which is an enterprise that owns various companies, or a company outside the US, known as Offshore.
The State of Delaware, in the US, offers the same fiscal benefits that some Caribbean Islands, such as Cayman Islands, or the British Islands (BVI). A holding or an offshore can own various LLC, and each LLC can own a different property.

This way, each property will belong to a different LLC, some will be rented, some will be used as vacation properties, and the legal liability will be restricted individually to each property. Selling one of them does not affect the other acquisitions.

Let’s talk about it. I have wonderful options for you. Now, also offering concièrge services. Buy and sell with confidence. 

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