So, as per the title, I am a South African CA (equivalent of your CPA) moving to Grand Cayman at the end of this year for 18 months.
I've been building my portfolio in South Africa, and would like to take the opportunity to diversify and invest in the US during my time in the Caribbean.
Given the above, I'm looking for anyone who could possibly help with some links to "crash course" sites on:
- setting up an LLC in the US as an expat
- financing (should I attempt to finance through my Cayman bank account, or set up a US bank account now and start building credit today to improve my chances once I'm there etc...)
- other laws and regulations to be aware of
- any other requirements I need to be aware of / can start putting into place now so that I can hit the ground running once I'm there?
Thanks so much for taking the time to read!
I have been researching LLCs recently too and have found www.llcuniversity.com to be a tremendous resource.
Happy researching and getting into the US market.
Thanks so such for the advice Josh, will look into it this evening!
That is a coincidence, it sounds like our paths our similar. I am a lawyer originally from Canada and have relocated to Cayman about a year ago. I too am looking to expand my RE portfolio into the US. So far I have examined Texas, Florida and I may be open to OCK. I will likely be going back to Florida in a month or so.
There are Canadian banks with US branches that I will be doing more due diligence on during my next visit. So far the options for US based financing have been a little more expensive than financing options that were available to me when I was a Canadian resident.
I presume you are considering a rental strategy?
Feel free to message me directly. Happy to share any information that comes my way - also happy to generally provide information about Cayman as you get ready for the move.
Updated almost 2 years ago
I work with several foreign investors and banks that provide no-documentation loans if you're interested in Texas properties. Good luck!
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