Legal Question in Real Estate Law in Florida

Re: US property

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Re: US property

yes, with tax implications.

Re: US property

UK companies can buy Florida real property. Our firm is based in Florida, though also qualified in Europe, and we have a great deal of experience working with foreign investors, at all phases of their investment plans.

Re: US property

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Yes. Foreigners invest in Florida real property regularly and are treated no differently in the purchase process. Upon selling the property, the foreign entity is subect to the Foreign Investment in Real Property Tax Act which requires the closing agent to withhold 10% of the gross selling price in order to ensure that capital gains taxes are paid on any profits. If there is an anticipated loss, the foreign entity can file in advance to get a determination that no taxes are due and then there will be no withholding of any monies at the closing.

If you have further questions, please feel free to contact my office as we handle transactions for many foreign entities investments in real property.

Scott R. Jay, Esq.