How to get money from a bank beeing a foreign?

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How to get money from a bank beeing a foreign?

Adriana Gatti
Interior Decorator · Sarasota, FL · Member since 2015 · 10 posts · 3 votes

I'm trying to check a financing conditions for foreign but I heard that I have to have at least two years of tax returns. I dont have that since I live in Brazil right now.

Any idea how can I get money from the bank beeing a foreign?

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  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    10y
    Shop around. Large banks may not be the best option but smaller private lenders may offer more flexibility. It is my understanding you need to show two years of previous income. As long as you have been receive an income in your current country and you are able to show you will continue to make the income required for the loan amount you are approved for I would assume a lender would lend to you. Having a tax return makes the process much easier for the lender since it shows you are making money legally and it is hard copy proof. Do you have legal proof of income from Brazil and are you working in a similar field today making wages equivalent to the loan amount you are looking to be approved for? I am not a lender but i would think if you can provide that information it would move the process forward for you.
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  • Mya Austin
    Galion, OH · Member since 2015 · 24 posts · 6 votes
    10y

    I know the issues you are dealing with. I am Partner in a small export service company as well. & The major part is assisting global buyers from any non-restricted area/country to obtain U.S. goods. (4EXPORT, LLC)

    & On the real estate side, I helped an associate who happens to be Libyan born, to buy a house here.  

    They do ask for two years tax returns.  Like you, this was an issue for him.  He had worked the whole time, in fact, was quite prosperous in his home country.

    One reason they ask this is because there is really no good "program" or way to verify references, employment or any other requirement from another country. *If anyone has an idea for this, it probably would do well.  

    Cash, again, is king. 

    Just as here we have to have a continuity shown, even if we have changed jobs, etc., they do not want to see gaps that they cannot verify.  

    Do you have something considered the equivalent in your country?  You may be able to establish what they are looking for even though it is not tax returns. & If they can actually talk to people or businesses or banks in your country and verify the information you are giving, you might be able to find a lender willing to lend.  

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