Year: 2004

  There are two main reasons why your overseas property isn't selling; either it is overpriced or you have chosen an incorrect selling strategy. In order to sell your overseas property you will need the best agent and most importantly, you need to be prepared…

  Selecting the currency in which to borrow is one of the most important considerations when borrowing Overseas. An Overseas mortgage in an alternative currency to that in which your income is earned and the loan monies are used introduces currency/exchange rate risk. Look for…

  If you own a foreign property and rent it out, even if you make a loss, you are obliged to file a tax return in the foreign country. You must also declare your foreign income in Ireland (resident country). However, Ireland has a double…

  Research or obtain tax advice on all aspects of your investments - tax on purchase, tax when renting/holding the property and tax on ultimate sale or transfer (gift/inheritance tax). Click on the country specific tax details for each at www.dgitax.com which summarises tax rates…

  Keep a record of all purchase costs - legal fees, transfer taxes, travel costs (in some countries), renovation costs etc. Some renovation costs may be deemed maintenance and allowed against rental income, others will be treated as 'substantially altering the property' in which case…