I was speaking with a friend in London. He used to live in the USA and now works for a hedge fund. He claimed there is a law that somehow restricts a non USA company from owning real estate in the USA.
Does anyone know of any such law?
Ignore the tax and IRS aspects as paying the tax and filing the right forms is not a problem.
Foreign corp not barred
John this is apparently still an area of states’ rights that has not yet been usurped or trespassed by Feds and so far as I know, no state has attempted to bar foreign corp from owning RE in USA.
Since any incorporator can have a lawyer incorporate for him/her/it and remain relatively anonymous there’s probably no way to enforce such a law if/when it’s so legislated into existence.