Marthamel wrote:

streamlineinvesting wrote:
We… want to start an LLC in the USA and then open a bank account in the USA in the LLC's name to then buy property. Our question is should we then open a bank account in Australia under our individual names or form a company here and then open a bank account in that company's name in Australia? The…[Read more]

Although direct ownership of U.S. property by foreign investors has some advantages, the non tax advantages – exposure to estate tax / death taxes and personal liability will most likely render direct investment unacceptable. James Simango, CPAUSTaxCentral.comwww.ustaxcentral.com

It makes good business sense to have an account dedicated to the LLC, but it is not compulsory to have a bank account for an LLC. Other investors are having their rental income wired to Australia, which proves to be very expensive at the end of the day. In the event that you do not have an LLC bank account a private account dedicated to the LLC is…[Read more]