The Foreign Investment in Real Property Tax Act of 1980, also known as FIRPTA, is a tax law that imposes U.S. income tax on foreign persons selling U.S. real estate. The United States continues to be the top choice for real estate investors from around the world. Estimates of foreign capital as a percentage of total domestic real estate investment activity reached 10% in 2017. In Florida, the amount is over 20%.
Our team has extensive experience working with foreign investors and on hundreds of foreign national transactions involving The Foreign Investment in Real Property Tax Act (FIRPTA).
We are experts in logistics and excel at choreographing real estate closings that include parties in multiple time zones, on different continents and often requiring currency conversions.
We have liaised with embassies throughout Europe, Asia and South America to successfully complete hundreds of overseas real estate closings.
To learn more about FIRPTA, including whether the law applies to your purchase, visit www.irs.gov
and type FIRPTA into the search field.