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Investing in US real estate as a PR

AkkiV

Star Member
Dec 3, 2017
65
7
Hello everyone,

As a Permanent Resident of Canada, I am looking to partner with a US based friend to make a real-estate investment in the US (basically buying a property and putting it on rent).
Could someone please let me know if there is something in particular I should be concerned about going forward with the investment? e.g. not being a Canadian citizen while making the investment, forming an LLP vs LLC, double taxation in Canada and US, any other complications on getting the monthly rents and the eventual sale amount of the property back to Canada?

Any guidance would be highly appreciated.

Regards,
Akki
 

jmbell

Newbie
Apr 11, 2024
9
0
Do not use an LLC. The tax effects in Canada for an LLC mean you will likely be double taxed as Canada treats it as a corporation, not a flow through. An LLP should be ok.