Time To Revisit Foreigner Investing In US Real Estate

Law360, New York (November 22, 2013, 11:34 AM EST) -- The Tax Court decided the case of G.D. Parker Inc. v. Commissioner of Internal Revenue late in 2012, and in doing so raised a number of significant issues for the way foreigner investors structure their investments in U.S. real estate. As a result of that case, corporate structures involving the holdings of personal use real estate should be revisited.

In brief, a Peruvian citizen (“Parker”) owned several U.S. real estate properties together with a yacht through a fairly typical structure involving a Panamanian parent company with multiple U.S. subsidiaries. This form of structure is often used as a way to avoid...

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