Money from Costa Rica to USA $$$$

[zhenia and brent 0]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

[Dan J 277]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

No maximum limits, but amounts over 10k must be reported to the government. This is usually taken care of in a wire transfer process.

It will likely be taxed, but probably not by the US. That's a question for an accountant to handle.

[zhenia and brent 0]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

No maximum limits, but amounts over 10k must be reported to the government. This is usually taken care of in a wire transfer process.

It will likely be taxed, but probably not by the US. That's a question for an accountant to handle.

Thanks for your quick reply. Is'nt Visa Journey a wonderful resource??!!

[amiquechu 0]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

Maybe you can talk her into throwing a big party for everyone from VJ once the deal closes??? Maybe fly everyone down to Costa Rica? Rent out a seaside bar maybe???

[zhenia and brent 0]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

Maybe you can talk her into throwing a big party for everyone from VJ once the deal closes??? Maybe fly everyone down to Costa Rica? Rent out a seaside bar maybe???

I'll try to talk her into it!!!

[Ban Hammer 12,829]

i take it she has to have this money all in one lump sum, rather than have a bank transfer once a month for say 8k?

[zhenia and brent 0]

i take it she has to have this money all in one lump sum, rather than have a bank transfer once a month for say 8k?

yes, one lump sum.

[Brad and Vika 129]

A Costa Rican friend just called me. She has a Visa and is married to a US citizen. She has no Green Card. Her family owns ocean front in Costa Rica. A hotel chain wants to buy the property. The family is going to divide the money between family members. She will want to have her share of the money in the US.

Her share will be over ten million dollars.

Are there maximum amounts that she can bring to the US? Deposit in a US bank, even if the bank is in Costa Rica? Is this type of money taxed?

I am sure that she will hire the correct accountants and lawyers.... but for today, she wanted to ask this on VJ to see if anyone has an idea of what she can expect.

Thanks.

No maximum limits, but amounts over 10k must be reported to the government. This is usually taken care of in a wire transfer process.

It will likely be taxed, but probably not by the US. That's a question for an accountant to handle.

I believe that it might technically be taxed here, depending on her status. There would be an offset for CR tax liability. She should definitely get tax advice before having the money sent here. There might be some good ways to bring the money here sheltered, like a trust of some kind. Just a thought.

[amiquechu 0]

The thought of the US government getting their hands on potentially even just one penny of that money is bull$hit (in my humble opinion)

[Brad and Vika 129]

The thought of the US government getting their hands on potentially even just one penny of that money is bull$hit (in my humble opinion)

Agreed