1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

A Way to purchase real estate

Discussion in 'Business & Tax Advice' started by Makemyown, Dec 3, 2014.

  1. Makemyown

    Makemyown Newbie

    Joined:
    Dec 3, 2014
    Messages:
    5
    Likes Received:
    0
    .i have been studying hard last few weeks to figure this out ,and this site seems to be very informative but I'm still missing a few things to work this out...
    so here's the deal I have a friend who has money to buy a house...the money was gifted to him but the gifter is not claiming...he does not have a lot of money are make a lot of money and just wants to buy a house...after researching and contacting a sovereign lawyer in panama it seems to me the best way was to set up a llc and than have a it ran by a corp.are watever in Belize or panama...but the lawyer stated there was no way for my friend to really transfer the cash he has into the bank for the llc to make the purchase..so pretty much I need some witty minds here to tell me what would be the best case scenario to make this work for my friend...trust all help is greatly appreciated
    and just for reminders he has the funds in U.S. currency form

    i just want to edit my question to maybe make the question simpler...how can I purchase a house anonymously ...like the steps I need to take to take my cash and safest way to do this...like I stated it would be easy to just purchase regularly but my friend hasn't worked much and ran into some cash thru a relative who was saving for awhile..thanks
     
    Last edited: Dec 3, 2014
  2. CyberAlien

    CyberAlien Regular Member

    Joined:
    Apr 14, 2010
    Messages:
    483
    Likes Received:
    231
    If you want to purchase a house in the United States, it's not going to be anonymous. Plus, most cities won't let businesses purchase houses in residential areas without an extensive investigation because a lot of people don't want a business next door to them. They'll survey the neighbors, find out if you'll be accepting shipments at the house, if employees will be working there, and so on.

    If the house is outside of the United States, tell us the country.
     
  3. concourse

    concourse BANNED BANNED

    Joined:
    Oct 28, 2014
    Messages:
    50
    Likes Received:
    10
    You can structure it like this:

    Offshore Entity -> US LLC -> Real Property

    A number of people use LLCs to own real estate, especially rental property as a means to a reduce liability. Another possible option is to utilize a trust. However, besides anonymity (and just how anonymous do you need this to be?), there are other considerations at play like potential tax withholding if and when your property is sold.
     
    • Thanks Thanks x 1
  4. Makemyown

    Makemyown Newbie

    Joined:
    Dec 3, 2014
    Messages:
    5
    Likes Received:
    0
    Problem lies with how do I move the currency to offshore entity anonymously?
     
  5. omagad

    omagad Jr. VIP Jr. VIP Premium Member

    Joined:
    Dec 10, 2010
    Messages:
    256
    Likes Received:
    290
    But you can, the problem is the offshore bank. What you need to do is setup a bank account for yojr offshore company in a more friendly country. Research who accept this kind off accounts. You will need to fly once to hk, lv, sg or cypruss to sign the papers, and after the account is live you will go again, with a suitcase full of cash (i think prvate jet is better) and deposit the cash in your offshore llc as an loan from yourself (which the llc will never pay back, obviously). Now you have money tied to hour offshore llc, but if you are an US citizrn is for nothing since even offshore banks are required to send your fiscal situation to the IRS.

    My advice is to get some serious legal advice when forming the offshore llc because you can make it so that you don't get listed anywhere in the docs.
     
  6. Makemyown

    Makemyown Newbie

    Joined:
    Dec 3, 2014
    Messages:
    5
    Likes Received:
    0

    Well I am U.S. citizen so I guess that will be out of ?...and traveling with a suitcase full is also probaly out of ? Especially overseas