Get Your US ITIN & EIN in 2 Hours | Canadian Investor Guide

If you’re a Canadian investor looking to buy property in the United States, you’ve probably heard about the ITIN – the Individual Taxpayer Identification Number you need to get started. What you might not know is that getting one doesn’t have to take weeks or months anymore.

Here’s something interesting: when we looked at the numbers, we found that 90 to 95 percent of Canadian investors who want to buy US property get stuck at the entity setup stage. They’re excited, they’ve found a property, and then they hit a wall. The traditional process takes four to eight weeks, and by then, the property is gone.

But there’s a better way now.

Why You Need an ITIN in the First Place

Before we get into the fast solution, let’s talk about why this matters. You technically can buy US property in your personal name, but here’s the problem with that approach:

You could face double taxation – paying taxes to both the IRS and the CRA
You have fewer lender options, which means worse terms
You expose yourself to personal liability (and yes, lawsuits are more common in the States)
You miss out on tax advantages that an LLC provides

Setting up an LLC (Limited Liability Company) solves all these problems. It protects you legally, opens up more financing options, and helps you avoid getting taxed twice on the same income. Talk to your accountant about this – everyone’s situation is different.

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The Traditional Timeline Problem

Here’s what usually happens: A Canadian investor finds a great property. They’re ready to make an offer. Then they learn they need to set up an LLC and get an ITIN number. The process takes four to eight weeks.

The property sells to someone else. The investor gets frustrated. Many give up entirely.

This delay has been killing deals for years. But it doesn’t have to be this way.

How to Get Your ITIN in Two Hours

The solution is actually pretty straightforward – it just required some creative thinking. Instead of waiting for each investor to start the process from scratch, entities can be set up in advance and then assigned to investors when they’re ready.

Think of it like having inventory ready to go. When you’re ready to buy, the LLC gets assigned to you within two business hours. No waiting. No lost deals. No frustration.

The process includes:

Assignment of a pre-established entity
Your ITIN number ready to use
The ability to rename the entity to whatever you want
Transfer to the state where you’re buying, if needed
Connection with a cross-border accountant to customize your tax strategy

What This Means for Your Real Estate Purchase

When you have your entity and ITIN ready to go, you can act fast. You can make offers with confidence. You can get pre-approval letters in the name of your entity, which makes you look like a serious buyer.

Speed matters in real estate. Properties move fast, especially good ones. Being able to move quickly gives you a real advantage over other buyers who are still waiting for their paperwork.

The Cost Factor

Here’s the best part: if you’re getting a mortgage, there’s no fee for the entity assignment. You only pay the accountant or lawyer their fee for customizing the setup to your specific tax situation.

Different investors have different needs. Some want simple structures. Others need more complex arrangements. The accountant works with you to figure out what makes sense for your goals, and the price reflects that complexity.

Even if you’re paying cash or using a line of credit from Canada and don’t need a mortgage, you can still access this service for a small fee.

Building Credit in the United States

Once you have your ITIN, you can start building a US credit history. This is important for the long game.

Most investor mortgages for Canadians buying in the States don’t report to credit bureaus. So if you want to build credit there, you need to get credit cards and banking products that do report.

Why does this matter? Because once you have a US Credit Score, your future mortgages will have better pricing. Lenders offer lower rates to borrowers with established credit. Over time, this can save you thousands of dollars.

More Lenders, Better Terms

When you buy through an LLC instead of your personal name, you open up access to more lenders. More lenders means competition. Competition means better rates and terms for you.

Some Canadian banks will lend for US property purchases in your personal name, but your options are limited. With an LLC and ITIN, you can shop around and find the best deal.

Getting Started

The entity setup process used to be a major roadblock. It stopped the majority of Canadian investors from following through on US property purchases. But it doesn’t have to stop you.

With a two-hour turnaround, you can go from planning to making offers on the same day. You can compete with local buyers who don’t have these delays. You can actually execute your investment strategy instead of just talking about it.

If you’re serious about buying us real estate, talk to your accountant first about the tax implications. Make sure an LLC structure makes sense for you. Then get your entity and ITIN set up before you even start looking at properties.

Being prepared means being able to act when opportunity knocks. And in real estate, opportunity doesn’t wait around.

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Frequently Asked Questions

What is an ITIN and why do I need one to buy US property?

An ITIN is an Individual Taxpayer Identification Number issued by the IRS. You need one to set up an LLC and buy US property as a Canadian investor. It helps you avoid double taxation and gives you access to more lending options.

How long does it normally take to get an ITIN?

The traditional process takes four to eight weeks depending on when you apply. This delay causes many investors to lose out on properties they want to buy.

Can I buy US property in my personal name instead of an LLC?

Yes, you can, but it's not recommended. Buying in your personal name may expose you to double taxation, limits your lender options, and leaves you personally liable for any legal issues with the property.

What does it cost to get an ITIN and LLC set up?

If you're getting a mortgage, there's no fee for the entity assignment – you only pay the accountant or lawyer their fee for customizing your setup. If you're buying cash or using a line of credit, there's a small fee for the service.

Will my US mortgage help me build credit in America?

Most investor mortgages for Canadians don't report to US credit bureaus. To build US credit, you'll need to get credit cards and banking products that do report to the bureaus.

Can I rename my LLC after it's assigned to me?

Yes, the package includes renaming the entity to whatever you want. It can also be transferred to the specific state where you're purchasing if needed for tax or other purposes.

Do I need to speak with an accountant before setting up an LLC?

Yes, you should always speak with a cross-border accountant about your specific tax situation. Everyone's circumstances are different, and an accountant can help you structure things in the most tax-advantageous way.

How quickly can I make an offer on a property once I have my ITIN?

Once your ITIN is assigned (which takes about two hours), you can immediately start making offers. You can get pre-approval letters in your entity's name, which makes you a more attractive buyer.

Disclaimer: LendCity Mortgages is a licensed mortgage brokerage, and our team includes experienced real estate investors. While we are qualified to provide mortgage-related guidance, the broader financial, tax, and legal information in this article is provided for educational purposes only and does not constitute financial planning, tax, or legal advice. For matters outside mortgage financing, we recommend consulting a Chartered Professional Accountant (CPA), licensed financial planner, or qualified legal advisor.

Written by

LendCity

Published

December 22, 2025