Quote:
Originally Posted by coolandhot
Why can't you get in financed in the US or by a US bank?
|
That is a personal financial question to Mycrew, and one that I'm sure they don't want to answer.
Please don't be rude.
In response to the thought of 'hiding money,' well, that's just naive. Not checking the 1040 box regarding foreign property holding is more so the I.R.S. can tax your foreign-earned income that anything else. They seem to consider the ownership of foreign property an automatic prerequisite to money laundering and drug-running, vs. rental income, which is just outrageous. So, if you live in the U.S. (or don't--but you are still a citizen, and must pay taxes, perhaps even double taxes on your foreign-earned income) and have a foreign bank account, it shouldn't generally be considered 'hiding,' but rather a form of estate planning. Of course, this is just semantics, which your lawyer will be well versed in when they help you set up your foreign corporation (a good way to reduce taxes and ease administration of held properties.)
Cheers.