Tax / legal question about investing out of country.

[Tomas Barrios]

I am planning to invest out of the country. sending money to Mexico, I would like to get recommendations of what are the legal / tax implications of sending money to other countries, my goal is to invest this money in house building in Mexico, I am looking for a CPA that might be able to help me or anyone that knows more information about this.

is there any CPA / legal that can support me? I am based on DFW.

Has anyone have done this before? What are your experience?

[Lance Lvovsky]

@Tomas Barrios

If you open a foreign bank account, you likely have to report and file FBAR. If you invest using an entity, you will have other informational filings, and potentially will need to file various forms including 8938, 5471, and 1116. The last form is for foreign tax credits that you may be eligible for in the US. It is best to speak to your CPA before beginning any activity.