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There are many things to consider when purchasing a property overseas and the tax and legal aspects of the purchase is a very specialist area where you cannot be expected to know the requirements. There may be foreign rental income to pay or taxes equivalent to our council tax.
On the plus side, many countries have a double taxation treaty such as Cyprus, which protects you from paying tax there and in the UK. What's more, interest on foreign money deposited in Cypriot banks by non-residents is completely tax-free.
There’s no need to worry about the tax implications as we’ll put you in touch with a local expert to ensure you are aware of any tax requirements as well as ways of avoiding tax in the country you are buying in.
Each country is different and language can be a barrier, so we can arrange for a solicitor who not only knows the legal system in that country, but is independent of the developer and speaks English too.
Many of these companies produce legal guides to the countries that they deal in and can supply you with this information, as part of our service. Click here to contact us and request more information.
Of course, if you prefer to source your own solicitor, that’s entirely up to you.