LLC & Foreign National Property Ownership?

[Jaya]

Hi there,

I am a foreign national who wants to buy properties in the States. I am not a green card holder but have a company work visa.

1. Can I have title ownership of property/land in USA? Are there any restrictions in State/Federal laws?
2. Can a Limited Liability Company LLC, own property/land. Can a title of a property have an LLC as owner? If so can that LLC own land if one of its members is a foreign unit trust?

Are there any government sites that confirm the above? I would appreciate any legal advice online or off line on this matter.

Thank you very much for your help!!

Jaya.

[Jim Johnson]

For the most part there are no restrictions on ownership of property in the states. You can hold title/deed to the property in a LLC or almost any type of entity including personally as a foreigner. The taxation issues do change when you sell the property. The escrow/title company will collect taxes on the sales price. Each state will follow federal laws on ownership and also have state guidelines so your research will have to be two fold. Here is a clip form a web site out of Florida-
The Buying process for individuals looking to purchase a permanent or vacation home in Florida is relatively simple. You do not need to be an American citizen to own property. Basically, a foreign national can purchase a home with all cash or with bank financing. The purchaser must show where the down payment is coming from and show their ability to make the payments. Most financial institutions require a 25-30% down payment,
approximately 4-6% in closing costs, and six months reserves (monthly payments) in your local bank to qualify. Since their financial records are overseas, it takes a little more time to process. Property taxes for schools, community projects, local government and homes owners insurance for liability and damage replacement are required yearly on all properties. The only drawback in home ownership for the foreign national is that the US
Government withholds 10% of the sales price of a home for taxes when the home is sold, which curtails speculative investments. However, the prices of homes have increased at such a rapid rate, even this has not deterred investors from purchasing.
I hope this helps.


Hi there,

I am a foreign national who wants to buy properties in the States. I am not a green card holder but have a company work visa.

1. Can I have title ownership of property/land in USA? Are there any restrictions in State/Federal laws?
2. Can a Limited Liability Company LLC, own property/land. Can a title of a property have an LLC as owner? If so can that LLC own land if one of its members is a foreign unit trust?

Are there any government sites that confirm the above? I would appreciate any legal advice online or off line on this matter.

Thank you very much for your help!!

Jaya.