What Happens to Ur Properties if You Give Up US Citizenship?
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What Happens to Ur Properties if You Give Up US Citizenship?
Do you have to sell, do you keep your name on the title, and all goes the same, or what? Thanks.
Last edited by zacb on October 11th, 2013, 11:29 am, edited 1 time in total.
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Re: What Happens to Properties if You Give Up US Citizenship
I believe foreigners are allowed to own property in USA. So I don't think anything really changes. But if you wanna keep said property, be sure to pay all relevant property taxes and related income taxes.zacb wrote:Do you have to sell, do you keep your name on the title, and all goes the same, or what? Thanks.
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Ok. So you would keep the property, and wouldn't have to do anything but pay taxes on it. Gotcha. I don't plan on doing that soon, but just a thought in my head. Thanks.
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Would Anonymous Nevada corps. or Central American countries be better?SilverEnergy wrote:You can protect all of your assets in an Asset Protection Plan by getting it out of your name.
This will help protect you against someone trying to sue you or a renegade woman trying to get money from you.
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Re: What Happens to Ur Properties if You Give Up US Citizens
You do not lose your property by renouncing your US citizenship. However you're still obligated to pay taxes on it, and income tax on rental income.zacb wrote:Do you have to sell, do you keep your name on the title, and all goes the same, or what? Thanks.
http://www.irs.gov/Individuals/Internat ... l-Property
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