gail123 replied to gail123's topic in FinanceYes. Not useful answers. We own rental properties in the US already, thanks for the advice. We would like to have a property in Germany as earning euros will be useful when our children go to university there. It’s a profitable family owned property and the older generations want out. So my question is how to best facilitate what we want to do (which worked for the older generations for 60 years) for our strange circumstance of bringing US citizens into the mix. Not suggestions on not to do what we want. BTW- if this were in the US I would know exactly how to do what I want. It is quite possible no one in this forum can give me guidance from experience and I thank those who use their experience to help others.
gail123 posted a topic in FinanceI have wandered and searched and can't find an answer- we are a dual national couple formerly in Berlin, now residing for the foreseeable future in USA--- My husband is a German-US dual national and his father would like him to buy a rental in conjunction with his German siblings. We are trying to find out what financial structure/s makes sense for all of us. Should we create a GMBH to buy the property and ourselves have an LLC in DE or foreign to hold our share? Should we have a Gmbh send us distributions- what makes sense both for Germans and for us? Liability is an issue as well as the ability to buy siblings out if they so desire, so should it be a partnership structure or shares with a buy out agreement? Once we figure it out we want to hire someone to set the structures up and then probably file whatever tax forms for the entity/ies that are needed annually. We need to figure out initial structure to determine how to buy the property and to finance it through the bank. I would be grateful both for an understanding of what to do and referrals to someone who could actually do it.