I've been following BP for some time now and often thought about investing in America. I'm currently in Scotland, UK, however I've previously lived in Georgia and have been to many states.
I'm looking to start investing in America so I can build up an income that may allow me to love there on a more permanent basis.
I've been investing in UK since 2002 and have a small portfolio here. Although the strategies in both countries are similar the execution and management seem to quite different.
Can you help me find out where I should start in my international investment journey?
What professionals should I be speaking with and what are the best places to set up an LLC for the investing?
Any other advice is welcome.
Thanks in advance.
Hi Stephen, I am a prospective investor looking in the Scotland market, would you mind if I pm you to connect? Cheers
Before you begin your overseas investing journey, the first thing to do would probably be to seek professional legal advice from an international or real estate attorney State side. Let me know if you need help connecting with someone there, but if you already have someone that's great!
Having said that a State that offers some benefits for setting up an LLC would be Delaware. Delaware does not tax out of state income for foreign LLCs. Delaware also offers lower fees in setting up an LLC and has a separate court for hearing business cases that can make things faster (Chancery Court).
Numerous people State side set up LLCs in the State of Delaware for these reasons, taxes and low fees.
Another perk to Delaware is that due to so many people setting up their LLCs here, the process is pretty fast and streamlined.
To start this you can simply go to the State of Delaware's site and use the links there or use one of the various LLC set up services online that is US based- you may however have a yearly fee from $100-$500 USD to maintain this LLC as you're setting it up as international.
Hope this helps!
Yes it does.
Thanks for the heads up. Yes, I'd be grateful for an intro to an attorney. I want to set up the business properly before I start my investment journey.
At the moment I don't have any contacts in real estate states side, however I friend has a property in Florida and he's going to introduce me to an accountant.
Hi Stephen! I will send you a message with some helpful real estate contacts and you will be able to see a few people in the legal world of real estate to connect with that might be able to offer professional advice.
We work with a number of foreign investors. I would start off with speaking to a CPA that works with foreign investors. They will help you when structuring your investment strategy. I would also speak to an attorney as well. DM me and I can send you professionals that we know of that work with foreign investors.
Hi Charles, thank you for your suggestions on CPA's and Attorneys to work with Foreign Investors. I think this is smart advice and a good place for me to start. If you happen to know any lenders that would entertain foreign investors that would be great too. I do have some funds , however I'd like to be able to borrow so I can grow my investments faster.
I will PM you so you can do introductions.