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What you’ll learn in just 17 minutes from today’s episode:
- Find out the important steps when investing cross border in the US and Canada to put you in a better tax situation
- Find out which kind of visa you need to apply for to allow you freedom of movement between two countries as you invest, live, work, and play in the US
- Learn about why you should shop for value instead of price when hiring a cross-border lawyer
Serial entrepreneur Lauren Cohen is an International Lawyer, Realtor, and Cross-Border Expert. Lauren is also a best-selling author and sought-after speaker. Lauren is the only globally-acclaimed legal and real estate business advisor.
After experiencing her husband’s deportation on the return trip from their honeymoon, Lauren was devastated. She felt compelled to find solutions for herself and others, and strongly believed that she could make a difference, so she turned to the crazy world of immigration and international law, serving as a concierge/quarterback in order to help others avoid a similar fate, and is recognized as an expert authority in the field.
In this episode, Lauren shares about finding ways for non-US citizens to invest in the US without the usual costly challenges.
03:18 – What you need to keep in mind when having cross border investments
06:06 – What brought Lauren to Florida
09:12 – Her recommendation for a Canadian who wants to have a cross-border investment in the US
11:19 – What is the difference between wanting a visa and needing a visa
13:08 – How to create multiple corporations in the US if you are a Canadian
15:00 – Shop for value instead of price when getting a lawyer
“All of those tax issues, it’s truly got to be a holistic cross border approach that covers everything, not just taxes, or investments or financing, or, where to choose the property’s location. It’s everything all in one. And that’s definitely an important feature.” – Lauren Cohen
“Part of the beauty of having that real estate license as well as a law license is that it gives you that comprehensive credibility as well as the comprehensive knowledge base and the ability to look under the hood of things and help people with that holistic approach.” – Lauren Cohen
“What generally I would recommend is you definitely would be using a Canadian entity, not a person, not you personally but a Canadian entity to make the investments and then set up some type of a corporation in Canada so that you have a shield of protection between you and the company. And also, that’s going to put you in a much better tax situation.” – Lauren Cohen
“There are visas available for people that want a visa. And then there are reasons available for people that need a visa. What’s the difference? Wanting a visa is because you may want to live or work in the US. Needing a visa is because you do so much business in the US that you need that visa to have ease of transport back and forth and so you can have a social security number, potentially set up a US bank account without challenges.” – Lauren Cohen
“Our goal is for you, as the investor, to just collect your rent at the end of each month. And eventually, that rent will turn into more and then you can buy another property.” – Lauren Cohen
“This is what I do because I’m dealing with not just the immigration side of the business and the real estate. It’s very unfortunate because a lot of people are shopping for price versus value. And when you’re a real estate investor, you don’t want to shop for price and value in your properties but always look for value in your team.” – Lauren Cohen
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