New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.


Canadian investing in real estate in the US

Asked by: Aline  — 17 January, 2012

Hi! I’m a Canadian and I want to start a business in real estate in Florida. I was told that a LLP is better than a LLC and that I do not need a EIN. Is this right? We are two in this business. Thank you for your time.

Answered by: admin  — 17 January, 2012

Dear Aline,

I haven’t heard about any special benefits of using LLP for real estate (as opposed to using an LLC), however this article has great review on why LLC is better than LP when used to hold rental investment properties.

As far as EIN goes, since its two partners (and I presume both are non-US persons) you would probably need to obtain an EIN for your new company after all.

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