Real estate abroad is often purchased not only to use it and have the opportunity to have a great vacation at any time. More and more often, selling residential real estate abroad is a way to obtain an annual multi-entry visa with conditions of staying three months in each half-year.
Furthermore, it is important to understand that when buying real estate, spouses must agree on whose name the property is being purchased. If a house, cottage, or apartment is bought for rental, the amount of income tax must also be considered (which, by the way, applies not only to rental but also to sale before the legally stipulated period after the purchase). As a rule, it does not exceed 10-15% of the purchase price.
There are also nuances in Russian legislation. In particular, the sale of commercial real estate abroad is not restricted and does not require special permission. However, there is control over the amount taken out when crossing the state border. This norm is regulated by Federal Law No. 173 'On Currency Regulation and Currency Control'. According to it, a citizen can take no more than 10,000 US dollars in cash, while the amount in the form of traveler's checks is not limited.
As for the property tax, abroad it is paid at the location of the purchased property, and it will not be necessary to pay it again. Similarly, in Russia, you will not have to report funds spent in foreign countries.
When buying real estate abroad, you need to open a bank account. And when transferring money earned here, you will have to notify the tax authorities and confirm the origin of the money, as well as the payment of taxes on it. And if the capital comes from other countries, the procedures for paying for real estate change significantly.
In many countries, it is not necessary to have your own company to buy real estate – this primarily applies to European countries and the USA. At the same time, it cannot be said that the rule applies to all countries of the world – in exotic countries, a villa can often only be purchased in the name of a company established in the country where the property is located.
Pay attention to the registration of land plots: foreigners are rarely allowed to own land, instead formalizing long-term lease relationships. And, for example, in the USA, land is practically the simplest purchase, since no certificates or insurance are required to complete a transaction, as is necessary when buying real estate.
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