Foreign Investment

Foreign Investments

Florida attracts a variety of foreign investment from all around the world. In particular, the beautiful scenery, temperate climate, and tourist attractions encourage foreign investors to purchase Florida real estate. Whether you live in the United States or in another country, it is important to hire an attorney when you invest in real estate. The following are ways an experienced real estate lawyer can assist you: Navigate Tax Laws It can be thrilling to purchase real estate in a foreign country, whether you are buying for business or pleasure. Whatever your reason for the investment, it is important to understand the tax implications of your real estate purchase. The United States generally cannot tax foreign persons on capital gains. However, Congress enacted the Foreign Investment in Real Property Tax Act of 1980 to impose an income tax on money made when foreign investors sell real property. A real estate lawyer can help you work through these and other tax implications. Avoid Unwelcome Surprises Everyone hopes that his or her real property purchases will go smoothly. However, some foreign investors discover unwelcome legal complications and surprises along the way. These surprises may make it difficult to complete your purchase or may prevent the investment from occurring at all. To be properly prepared for your investment, you should be aware of all potential legal complications. An attorney experienced in handling foreign investments can prepare you for any surprises and advise you about the implications of buying and selling resident and commercial property.