I'm partnering up with a group of like-minded investors of various nationalities for investing together in international real estate. Our lawyer has recommended that we set up a Belize LLC with custom Partnership and Operating Agreements which will dictate in detail how the company will operate, describe dispute resolution processes, etc. He further recommended that we create two classes of shares, for managers and passive investors, and that we limit the interest of US citizens in the company to less than 50% to avoid extensive SEC compliance bulls**t.
For drafting the agreements and incorporating the company in Belize, he would charge $12.8k and the timeframe for completion is 2 weeks. For context, he's a US based lawyer with extensive knowledge in real estate.
My question to the wise members of this forum:
- Is this price tag reasonable for a top lawyer or a rip-off?
- Is a Belize LLC the best vehicle for this project?
- How hard will it be to open a bank account for a Belize LLC (outside Belize)?
For drafting the agreements and incorporating the company in Belize, he would charge $12.8k and the timeframe for completion is 2 weeks. For context, he's a US based lawyer with extensive knowledge in real estate.
My question to the wise members of this forum:
- Is this price tag reasonable for a top lawyer or a rip-off?
- Is a Belize LLC the best vehicle for this project?
- How hard will it be to open a bank account for a Belize LLC (outside Belize)?
