SERVICES FOR FOREIGN INVESTORS
Since late 2008 Krzyzaniak PC has started over 50 LLC’S for foreign investors of US real estate. Under US laws it is next to impossible to open a back account, establish utility service and purchase property without obtaining a US Social Security number. Since a LLC is eligible for a “Tax Identification Number” from the US Internal Revenue Service (IRS) this overcomes a huge technical roadblock for non-US real estate investors.
The service package for Foreign Investors includes:
Create a LLC for each property purchased.
Operate a Attorney-Client Trust bank account for each LLC to allow the Foreign Investor to monitor their operational funds for each property/LLC and serve as a secure conduit to allow movement of the funds to and from the account subject to (and with full compliance of) US Banking and Internal Revenue Service rules and Regulations.
Provide year- end tax preparation assistance in conjunction with the Certified Public Accounting firm of Rennie & Assenmacher.
Serve as Resident Agent of the LLC as required by Michigan law.
Coordinate with the Property Management firm retained by the investor to assist with Landlord-Tenant issues that may arise.
Provide liaison with the US IRS to obtain required tax identification numbers for the LLC and the foreign investor.
Tax returns filed by an LLC can be selected by the filer to allow coordination with the foreign investor’s taxable year in their home country.
FEES FOR SERVICES
the charge for the initial LLC is $1000.00/additional LLC (s) for the same investor $600.00.
An annual $300.00 fee per LLC is assessed to serve as Resident Agent. The Resident Agent fee for the first year is included in the initial LLC charge. The LLC must have a Resident Agent who is physically located in the State of Michigan.
An annual fee of $360.00 per LLC is charged to open and operate the attorney-client trust account described above. The Resident Agent Fee and the Bank Operational fee are due by January 31 of each year the LLC is operational. Bank Operation fees for the first year of LLC operation are pro-rated at $30.00 per month. An additional $250.00 is required at the initial formation of the LLC/Bank Account to fund the LLC bank account. All fees are quoted in US dollars and must be wired to the firm’s bank account as directed.
Please contact the office by e-mail GOLFLAW@SBCGLOBAL.NET with any questions or further information