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Structuring Foreign Investment in US Real Estate

Structuring Foreign Investment in US Real Estate

Author: W. Donald Knight Jr.; Richard Andersen
Publisher: Kluwer Law International
ISBN: 9789041128102
Published In: Subscription-type (Contents updated periodically)
Format: Loose-leaf , 1128 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Foreign investors and their American counterparts generally share the goal of minimizing income tax liabilities from their US real estate investments. This rather straightforward aim is complicated by the fact that non-US investors must be concerned not only with income taxes in the United States, but in their home country as well. What's more, the United States has a special income tax regime that’s applicable to foreign persons. It’s quickly evident to those involved that this is a complex area subject to new developments as the US Congress continually entertains new tax laws (and other statutes with relevant impact like the PATRIOT Act), the Internal Revenue Service promulgates regulations, rulings, announcements and interpretations, and the US courts issue opinions impacting the area. This timely and highly practical resource is designed to explore the considerations that are of unique concern to foreign individuals and entities making US real estate investments. To that end it details the US income, estate and gift tax aspects of inbound investment in US real property and the various structural techniques that may be employed to reduce or eliminate US tax liability under these domestic laws. This work's single-minded focus on real estate, the encyclopedic coverage of relevant tax considerations, and extensive materials on non-tax issues (asset protection, non-tax reporting, limits on foreign ownership of U.S, real estate, etc.) make it an essential resource for non-US investors and their advisers. Structuring Foreign Investment in US Real Estate covers:

• General rules for taxing inbound investments by non-US persons

• System for taxing operating income from foreign-owned US real estate

• Regime for taxing dispositions of US real estate by non-US owners

• Withholding obligations of purchasers of US real estate from non-US sellers

• Impact of tax treaty network on US taxation of inbound real estate investment

• Limitations on non-US ownership of US real estate

• Reporting obligations for non-US owners of US real estate

• Planning for acquisitions and dispositions of US real estate by non-US persons

• Estate and gift tax planning for foreign-owned US real estate

This one-volume looseleaf answer questions, such as:

• How is direct foreign investment in US real estate taxed?

• How is portfolio investment in US real estate taxed?

• What are the seller’s and buyer’s tax obligations when foreign-owned US real estate changes hands?

• What planning techniques are available to non-US persons for holding and disposing of US real estate?

• What reporting obligations are associated with foreign ownership of US real estate?

• Are there limitations on the ability of non-US persons to own US real estate?

• What impact do tax treaties have on planning for foreign investment in US real estate?

• What state and local tax issues arise on inbound investment in US real estate?

• What estate and gift planning should be done for non-US owners of US real estate?
Chapter 1 The `Ground Rules' of the Internal Revenue Code: Rental Income

Chapter 2 The `Ground Rules' of the Internal Revenue Code: Interest, Dividends and the Branch Profits Tax

Chapter 3 The `Ground Rules' of the Internal Revenue Code: Sales and other Dispositions

Chapter 4 Enforcement of the FIRPTA Tax: Withholding

Chapter 5 The Effect of Tax Treaties on the Code Ground Rules

Chapter 6 Legal Structure Alternatives

Chapter 7 Special US Tax Planning Techniques and Considerations

Chapter 8 US Estate, Gift, and Generation-Skipping Taxes

Chapter 9 State and Local Considerations

Chapter 10 Transfer of Ownership of US Real Property under a “Home Country” or US Will

Chapter 11 Planning Techniques to Avoid US Probate of a Will

Chapter 12 Introduction to Federal Disclosure Laws with Respect to Foreign Investment in US Real Estate

Chapter 13 Responding to Foreign Direct Investment: Current Federal Disclosure Laws from an Historical Perspective

Chapter 14 Disclosure of Real Estate Investments under the International Investment Survey Act of 1976 (Reentitled the International Investment and Trade in Services Survey Act) (the IISA)

Chapter 15 Disclosure, Requirements of the Agricultural Foreign Investment Disclosure Act of 1978

Chapter 16 The FIRPTA Disclosure Requirements

Chapter 17 State Restrictions and Reporting Requirements

Chapter 18 Structures to Protect US Assets against the Effects of Foreign Political Emergencies

Chapter 19 Structures to Protect US Assets against Freezing or Vesting under the US Trading with the Enemies Act and Related Laws

Chapter 20 Structures to Protect US Assets in Insolvency Situations

Appendix A Internal Revenue Code Sections 861-897 Appendix B Internal Revenue Code Sections 1441-1446; 1461-1464; 6039C Appendix C Income Tax Regulations Issues Under Code Section 897 Appendix D Income Tax Regulations Issues Under Code Section 1445 Appendix E Internal Revenue Code Sections 2001; 2003-2041; 2051-2055; 2102-2108; 2501-2551; 2061-2663 Appendix F The Agricultural Foreign Investment Disclosure Act of 1978 Appendix G The International Investment Survey Act of 1976, re-entitled ‘The International Investment and Trade in Services Act’ Appendix H Instructions for FIRPTA Withholding Certificate Applications Appendix I Internal Revenue Service Form 8288-A (Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests) Appendix J Internal Revenue Service Form 8288-B (Application for Withholding Certificate for Dispositions by Foreign Persons of U.S. Real Property Interests) Appendix K Internal Revenue Service Revenue Procedure 2000-35