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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10629
Experience:  30 years of corporate, litigation and international law
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I have a relative in Philippines who wants to open an Inc in

Customer Question

I have a relative in Philippines who wants to open an Inc in USA to buy homes and rent them and I have following questions;

1) Any permission needed for non resident to invest in the company in USA?
2) Permissions (if any) needed (from US authorities) for legal transfer of funds to US and to invest in properties.
3) Is the income of non resident from rent is taxable? If yes how much?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 5 years ago.

bizlaw :

The answers to your questions are as follows. (1) You do not need permission to invest in the US whether the investment is directly or through investment in a company. (2) You do not need permission from US authorities to transfer money to US to invest in the properties. (3) You income from rental properties will be taxed at the state level and at the federal level. The state taxes vary considerably from state to state but are generally less than 9%, which is about the highest. The federal tax depends on the amount of the income but the maximum rate is about 40% for individuals and 35% for corporations. These are graduated rates so the rate I gave you is for the highest level of income.


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