BACKGROUND: I’m a US Citizen with a small LLC (taxed as an S-Corp) and am very interested in establishing a Solo 401K primarily for the purposes of investing in a retirement property in South Africa.
ANSWER: While a solo 401k may invest in foreign real estate, one or more U.S. persons is required to control the asset of the solo 401k. Click here to read our blog on this topic.
QUESTION: I am currently in South Africa and would like to know if it would be possible to setup the entire Solo 401K without me having to return to the USA? If so can your company assist?
ANSWER: Yes the solo 401k for investing in real estate, whether domestic or foreign, may be setup electronically. Please visit the solo 401k sign-up page to get started.
FYI, My business address is in Nevada and I do have an established company account with Bank of America.
Thanks in advance.
