Showing posts from August, 2017

FinCEN Targets Shell Companies Purchasing Luxury Properties in Seven Major Metropolitan Areas

The situation in the info-graphic above was the situation in January 2017.  Now in August 2017, the net has been cast wider.  See release below...

Contact Steve Hudak 
703-905-3770  Immediate Release August 22, 2017
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced the issuance of revisedGeographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used to pay for high-end residential real estate in seven metropolitan areas.  Following the recent enactment of the Countering America’s Adversaries through Sanctions Act, FinCEN is revising the GTOs to capture a broader range of transactions and include transactions involving wire transfers.  FinCEN also expanded the GTOs to include transactions conducted in the City and County of Honolulu, Hawaii. In addition, FinCEN today publish…

ITIN Update

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