Specialist · long beach, CA · Member since 2017 · 2 posts · 0 votes
HELLO! Bigger Pockets community. Please help.
My wife just sold her house in Beijing China for the equivalent of 600k USD. We are looking to purchase a home in CA. However her 600k is sitting in a Chinese bank in Beijing. A new policy just passed saying she cannot transfer over 50k per person per year over to the US.
Don't quote me on this, but I wonder if you can create an LLC, then do a RegS offering to "chinese investors" to pass the money through - but there will probably still be tax implications...hmm...
Does she have relatives in the US who can give you the money and you pay them in the foreign country?
An LLC/Corporation is an option, but I would definitely recommend a conversation with one of our Global Property Specialists that deal with overseas buyers on a daily basis. They have access to alternative transfer sources and can assist with the advice and guidance you'd need. Can I make a referral? Feel free to PM me and I can provide their direct information!