All Topics / Overseas Deals / Purchasing in USA using SMSF

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  • Profile photo of Ziv Nakajima-MagenZiv Nakajima-Magen
    Participant
    @zmagen
    Join Date: 2012
    Post Count: 523
    October 28, 2012 - 12:46 pm

    Finally, thank you, terry, you're a gem :))

    Ziv Nakajima-Magen | Nippon Tradings International (NTI)
    http://www.nippontradings.com
    Email Me | Phone Me

    Ziv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property

    Profile photo of learnsmsfslearnsmsfs
    Member
    @learnsmsfs
    Join Date: 2012
    Post Count: 1
    December 14, 2012 - 1:37 pm

    smsf is complicated, but it doesn't stop from investing in progressive assets even if they are overseas…the law is prepared to ensure that people do not mis utilise the super money for present personal gains as super is meant for retirement..and if investing in US helps secure the future retirement..SIS act will not stop it..

    Owning property via LLC is understandably the most secure way as it provides insurance against future liability in the foreign land. 

    Some accountants believe that buying property via llc through smsf can trigger in house asset rules, but  our accountants believe that the SIS Act and Reguations provide some exceptions and we have developed a structure which can be SIS compliant and allow smsf to buy property in US through LLC structure..

    Profile photo of Alex SCAlex SC
    Participant
    @alex-sc
    Join Date: 2011
    Post Count: 585
    December 18, 2012 - 12:33 pm

    Just dealing with a client now who is using a super fund to purchase .Correct me if I am wrong the Super fund can send money to LLC  which is set up in states then the LLC can purchase the properties.

    We are currently dealing with a Client who is using a super fund so new to us. This clients has over 20 homes in the USA purchased in different markets.

    So I would like to see what every one else is saying on this ( especially you finance guys )

    Thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    December 18, 2012 - 12:49 pm
    Alex SC wrote:
    Just dealing with a client now who is using a super fund to purchase .Correct me if I am wrong the Super fund can send money to LLC  which is set up in states then the LLC can purchase the properties.

    We are currently dealing with a Client who is using a super fund so new to us. This clients has over 20 homes in the USA purchased in different markets.

    So I would like to see what every one else is saying on this ( especially you finance guys )

    Thanks

    Alex, You have to look at SIS reg 13.22C from memory. A superfund cannot invest in certain assets but can buy shares and units from a related member if there is no mortgage or lien on the property owned by the company or trust.

    If there will be borrowings then a separate bare trust needs to be set up so that none of the SMSF funds assets will be used as security.

    you also have to look at the ADI requirements.

    Its a tricky area.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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