Miami, FL – March 23, 2015 – For foreign investors and entrepreneurs seeking to move to the United States, the EB-5 Immigrant Investor Visa has been marketed as the perfect fit. Looks, however, can sometimes be deceiving. On the first day that an EB-5 visa holder enters the United States, he becomes subject to U.S. federal income tax on his worldwide income and informational reporting requirements for his foreign bank accounts, offshore companies and other assets.
This may surprise even those who have obtained the advice of U.S. immigration counsel before entering the United States. Foreign investors who obtain the advice of competent and qualified U.S. international tax counsel can avoid mistakenly or unwittingly causing their foreign affairs to cross the border when they do.
Miami based international tax attorney Steven L. Cantor of Cantor & Webb P.A. provided his expert insights on the often overlooked tax consequences of the EB-5 visa program during his presentation at the EB-5 Investor Based Immigration Seminar entitled “Pre-Residency Tax and Estate Planning in Advance of Obtaining an EB-5 Visa”, which was held on Thursday, March 5th, 2015, in Lake Buena Vista, Fl.
Mr. Cantor also recently explored a related topic during the panel he moderated at the Legal Week Private Client Forum Americas on February 4th, 2015 in Guanacaste, Costa Rica. The panel, titled “Moving Out: My Civil Law Client is Moving to a Common Law Country – How Can I Assist Him?”, addressed the pre-residency issues and planning techniques for clients migrating to the U.S. from Latin American countries which have community property regimes.
Should you be interested, Mr. Cantor would be glad to share his comments with you. Please contact me at firstname.lastname@example.org or 305.374.3886 to arrange a time to do so and/or obtain more information.
About Cantor & Webb P.A.
Cantor & Webb P.A. focuses exclusively on representing high net worth private international clients and their businesses in the areas of tax planning and estate planning. For more information visit, www.cantorwebb.com or contact Cantor & Webb P.A. at (305) 374-3886.