Auckland, New Zealand · Member since 2016 · 11 posts · 3 votes
I am an foreign investor looking to buy my first rental investment in Memphis. To get started I want to set up an LLC and ensure its setup properly to avoid getting double taxed in New Zealand. Any recommendations from fellow BP members for companies that specilise in setting up foreign LLCs is appreciated.
Please only recommend if you have had a good experience with that company.
Tel Aviv, Israel · Member since 2014 · 53 posts · 10 votes
10y
you can have an LLC 100% controlled by foreign nationals, although a registered local agent should be on the inception of the LLC as well.
a CPA in New Zeland can tell you about the NZ laws about dealing with a foreign US entity that you hold (with a specification bout RE)
for example in Israel they have their own way to address a US LLC entity becasue there is not a similar vehicle locally so they created 2 tax plans that complement
the original tax report you do for your LLC in the US (with a US certified CPA of course)
if you still need referrals for an LLC setup I can check it up for you
(in some states like FL you can simply do it yourself online I believe, don't know about Tennessee)
If you haven't already done so, you should check with a local tax/legal specialist in your country who is well versed in how to do business in the US. An LLC may not be the best route, especially if it is not recognized in New Zealand as a flow through entity with respect to taxation. It may be deemed a corporation, and depending on when you repatriate the earnings, may have a mismatch of tax credits and therefore is when you'd get double taxed..
Tel Aviv, Israel · Member since 2014 · 53 posts · 10 votes
10y
you can have an LLC 100% controlled by foreign nationals, although a registered local agent should be on the inception of the LLC as well.
a CPA in New Zeland can tell you about the NZ laws about dealing with a foreign US entity that you hold (with a specification bout RE)
for example in Israel they have their own way to address a US LLC entity becasue there is not a similar vehicle locally so they created 2 tax plans that complement
the original tax report you do for your LLC in the US (with a US certified CPA of course)
if you still need referrals for an LLC setup I can check it up for you
(in some states like FL you can simply do it yourself online I believe, don't know about Tennessee)
Nottingham, MD · Member since 2016 · 16 posts · 3 votes
9y
This is exactly what i am looking for. I am a non US resident, however, i would like to set up a LLC in Baltimore, MD. Please any one who has an idea about setting up a LLC in Maryland state let me know.
Attorney · Clinton, MD · Member since 2016 · 70 posts · 55 votes
9y
@Hadi Alajmi I am a Maryland real estate attorney and I form and register business entity's such as LLC's all the time and I also offer registered agent services. An LLC may not be the best entity depending on your situation. I recommend consulting with a Real Estate CPA such as @Brandon Hall about tax issues, and consulting with a real estate attorney such as myself regarding liability before deciding on an entity.
Feel free to connect with me if you have any questions!