Foreign National Financing

Guidelines for Financing Foreign Nationals
{Standard Rates Used}

  • Insurance policy to be financed must be from a life insurance company domiciled in the U.S. or Canada.
  • Minimum Net Worth of $5Million U.S. dollars or equivalent.
  • If a Trans Union is not available for the insured, a foreign credit report may be required.
  • Insured must provide at least one of the following;
    • Valid U.S. Drivers license
    • Valid Passport from issuing country
  • Insured must have at least one of the following;
    • U.S. Tax I.D,
    • SSN
    • WB-8BEN completed or present a current WB-8BEN that is not more than 36 months old
    • EB-5 approval or certification
  • Insured must meet one of the following:
    • Owning real estate in the U.S. (verifiable)
    • Owning a business in the U.S. or working for a U.S. Company (proof of employment required)
    • Having financial assets held in the U.S. for at least six months prior to credit application (verifiable).
      • US based assets to substantiate the size of the loan (proof of assets will be needed, brokerage statements, etc.).
  • Insured must provide personal financial statements.
  • Insured must provide two years of tax returns from the Foreign National’s domiciled country and the U.S. if any.
  • Policy Owner & Beneficiary must have at least one of the following:
    • U.S. Tax I.D,
    • SSN
    • WB-8BEN completed or present a current WB-8BEN that is not more than 36 months old.
  • Borrower must be either a:
    • U.S. Based Trust (approved by FIFC) with a U.S. FEIN. FIFC requires:
      • Complete trust documents provided for review and approval.
    • U.S. Based Company with a U.S. FEIN. FIFC requires:
      • 2 years U.S. Federal Tax returns
      • 2 years FYE accountant prepared financial statements
      • Most recent interim financial statement (internally prepared is
        acceptable)
      • Articles of incorporation and by-laws of company.
    • Additional Collateral Pledge must be based with a U.S. financial firm acceptable to FIFC. Acceptable forms of collateral:
      • Certificate of Deposit or MMA
      • Letter of Credit with evergreen provision
      • Diversified Brokerage Account containing U.S. investments.
    • CONSENT TO JURISDICTION will be required.
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