Question Buying real estate via a company without being physically in the country

[PinkCat]

​

So I have an LTD setup in the US (I'm non US citizen neither a resident) which whole purpose is to buy, fix and sell real estate in the US. I have a guy there that does all the work but very often my signature is required for all kinds of trivial stuff. Sometimes general power of attorney doesn't work and specific ones have to be made which is inconvenient and slows us down.

So, my question is how to legally set it up so my signature is no longer needed for anything but still the title for all properties is in the name of the company and all funds from the sale can go only to the company's bank account?

Should be an easy thing to do right?

 

[myhand]

You must consult a lawyer in the USA who will get full power on your behalf, that's how it can be solved.

Toggle signature
I do services that no one does at OffshoreCorpTalk - Get in touch with me e-mail - Do you have a problem, get in touch. Be clear to what you want, sneaky questions are ignored!
UK LTD with Nominee Shareholder & Nominee Director, passport and utility bill available, 2 days delivery - learn more!

 

[PinkCat]

But I have to 100% trust the lawyer that way?
I was hoping for more of a trustless way

 

[CyprusLawyer101]

PinkCat said:
But I have to 100% trust the lawyer that way?
I was hoping for more of a trustless way
Click to expand...

Appoint your guy as the Director of the LLC.

 

[MiddleEuroAsia]

PinkCat said:
Should be an easy thing to do right?
Click to expand...

Either make him the Director of the LLC or Set up a US trust and transfer your assets to that trust. it can cost you anywhere between 2k to several thousand dollars depending on the location of the trust (the state) and how complex your structure is, but overall, trusts are usually the best legal vehicles to manage these kinds of investments.

 

[JohnnyDoe]

Or you can use this: Signature Machines - The Autopen Company

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[JohnLocke]

JohnnyDoe said:
Or you can use this: Signature Machines - The Autopen Company
Click to expand...

WoW I didn't knew such machines exists! Is the signature this machine do 100% legal and valid ? The must be a high risk of misuse if one own such a thing!

Toggle signature

>> Unlock the Power of OffshoreCorpTalk: Become a Member of the Mentor Group Gold <<​

Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community

Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[JohnnyDoe]

James Spader said:
WoW I didn't knew such machines exists! Is the signature this machine do 100% legal and valid ? The must be a high risk of misuse if one own such a thing!
Click to expand...

The US President, several Fortune 500 CEOs and others regularly use the autopen (their secretaries do), for example for signing cheques, letters, autographs etc. The signature has legal value if it is authorized.
It is however quite easy to spot an autopen signature because it is identical to the original sample, and as we know it is impossible to sign two times in the exact same way. Several scams have been attempted in the memorabilia market using autopen.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[PinkCat]

If he is director can he somehow misuse or redirect funds?

 

[peter taradash]

Usually, a general power of attorney works though it may be necessary to prove that the signer is still alive as a p/a dies with the signer (except in special cases). If you trust someone enough to do lots of stuff in your name without you, then the solution is to make that person an officer of the company involved. Pass a resolution empowering & authorizing him/her to sign as principal for the company/trust/LLC or whatever on all stuff you want him to handle.

 

[countryfree]

Is it worth it?
Cost of a good lawyer may be higher than a flight ticket.

 

[PinkCat]

countryfree said:
Is it worth it?
Cost of a good lawyer may be higher than a flight ticket.
Click to expand...

You don't account your own time.