Benefits of Owning Investment Properties in New York
You have decided to invest in real estate in the United States and New York City, an area where real estate value appreciation has been historically strong is the focus. The U.S. is a stable and secure place to invest in real estate. The possibility of considerable economic gain through rental income and capital growth is the strongest incentive. Real estate in the United States largely represented by steady appreciation and less volatility than financial markets.
While the dynamics of a foreigner’s purchase of real property in New York are simple, there are reporting requirements and tax consequences that must be considered. It is important to work with a competent team of real estate brokerage, legal and accounting professionals who as a team understand the interplay of the relevant tax laws of the foreigner’s home country as those of the United States. The goal of the professional team is to assist the purchaser in facilitating the most efficient investment, accounting and tax structure in the purchase transaction.
One of the most important decisions is deciding which options to select under which to purchase the asset. For example, a foreign investor will need to decide to conduct the real estate purchase in the U.S. as an individual owner, or as a member of an LLC (Limited Liability Company); or as a shareholder of a domestic or foreign corporation.
The key for any foreign investor interested in owning real estate in New York City is to do careful planning before investing in the property. The plan a foreign investor should follow will depend on in-depth dialogue with a team attorneys, accountants and real estate brokers about the investor’s intent for the property, the investor’s particular situation abroad, the investor’s desire for anonymity and the relative weight the foreign investor places on each of such individual’s goals.
To most efficiently enhance all the benefits mentioned above, you need the right property that will match your objectives. As the exclusive affiliates of Kensington Finest Properties International, Open Deuren | NYC Real Estate, will assist you in finding the right property. We recommend our clients and customers to consult with a legal and accounting professional.