Go Back  British Expats > Living & Moving Abroad > USA
Reload this Page >

Bringing Assets into the US of A

Bringing Assets into the US of A

Old Apr 30th 2005, 10:54 pm
  #1  
Just Joined
Thread Starter
 
possom's Avatar
 
Joined: Apr 2005
Location: London UK
Posts: 2
possom is an unknown quantity at this point
Default Bringing Assets into the US of A

Hi all,

Do the US authorities impose any forms of tax on personal financial assets brought into the country for the purposes of establishing residence? I am American and my husband British and the money we will be bringing in will be from his savings and the sale of his property in the UK. We are both living in the UK at the moment but anticipate relocating in about 6-9 months time once he obtains a spouse visa.

Are there any good resources/websites with information on this type of thing?

Many thanks,

Tara.
possom is offline  
Old Apr 30th 2005, 11:23 pm
  #2  
Bob
BE Site Lead
 
Bob's Avatar
 
Joined: Aug 2004
Location: MA, USA
Posts: 91,772
Bob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond reputeBob has a reputation beyond repute
Default Re: Bringing Assets into the US of A

Depends on if he's liquidised his assets before he becomes a LPR, if he's an LPR when he sells his gaff, then it could be taxed, though the IRS are quite generous with there limits, so check the IRS website out.

And a search of this forum might help, similar things have been asked before...
Bob is offline  
Old May 1st 2005, 12:01 pm
  #3  
Just Joined
Thread Starter
 
possom's Avatar
 
Joined: Apr 2005
Location: London UK
Posts: 2
possom is an unknown quantity at this point
Default Re: Bringing Assets into the US of A

Originally Posted by Bob
Depends on if he's liquidised his assets before he becomes a LPR, if he's an LPR when he sells his gaff, then it could be taxed, though the IRS are quite generous with there limits, so check the IRS website out.

And a search of this forum might help, similar things have been asked before...

Bob, thanks. This is probably a silly question, but does he become an LPR when he is obtains his visa - or the day he actually enters the USA at a POE? I gather he has six months to enter the USA once a visa is obtained and he should be able to sell up etc within this time. Tara.
possom is offline  
Old May 1st 2005, 12:37 pm
  #4  
Lt Cl (Rtd)
 
Pulaski's Avatar
 
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 49,045
Pulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond reputePulaski has a reputation beyond repute
Default Re: Bringing Assets into the US of A

Originally Posted by possom
Bob, thanks. This is probably a silly question, but does he become an LPR when he is obtains his visa - or the day he actually enters the USA at a POE? .....
Given that the visa only gives an option to move to the US, it is not a commitment, he only becomes a LPR when he arrives, otherwise you'd have the odd situation where someone has a vas, never goes, and becomes liable to US taxes for six months despite not living there.
Pulaski is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.