Can I take advantage of the Opportunity Zone tax incentive even if I am not a citizen? Are there any additional forms or criteria I need to fulfill because I am not a citizen?
Yes, you're eligible even if you're not a citizen, as long as you have U.S.-based capital gains. The IRS just issued regulations detailing how you can do this. You'll need to navigate some compliance hurdles, but it is possible, and the government wants you to make the investment in the U.S.
You only get the benefit of inviting in a Qualified Opportunity Zone if you have a capital gain taxable in the U.S. that you roll into a Fund. Residency is not the question. The question is do you woe taxes in the U.S. for a capital gain?
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