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is it possible for a foreign jurisdiction to buy houses in america?? you can use a w-8 non intereting bearing account to purchase your properties? or do mortgage brokers require only us corporations the privalage of mortgages?
I presume, you wouldnt want to buy the houses in the w-8 as this leaves too much legal risk?
use the corporation to buy the houses, and then transfer assests into the w-8,?? or can you just use the w-8 directly to purchase properties . ie real estaste investing... ???
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What is a foreign jurisdiction? Form W-8 is an IRS form used to notify a bank of a foreign owner, it conveys no legal status or standing whatsover. It is impossible to buy a house in a w-8 as a w-8 is just a form. Consider a pension plan, SEP, or Roth IRA as these are legal entities that pay no tax at all. Many firms, such as TD Waterhouse, Charles Scwhab,Lincoln Trust set it up for free over the Internet and file all related tax returns for you. No need to go to Gibralter, Jersey, or the Cayman islands.