Should You Own Foreign Real Estate in Your Own Name?
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- Опубликовано: 28 авг 2024
- nomadcapitalis...
Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
Complexity - Does increasing complexity actually serve you for protection? How much do you have to do to get the thing held in a corporation?
Operating costs - Does it benefit you in terms of the cost of maintaining a corporate structure?
Taxes - Does the corporate tax rate hammer you?
Immigration - Does the property serve you in terms of your immigration if you put it into a corporate structure?
LLCs protect you legally which then are held by an S-Corp which one leverages for Taxation. If you pay yourself with your S-Corp as a W-2 (at least $147,000) then you can put 58,000 per year into ROTH. Peter Thiel has a 5 Billion dollar ROTH. He will not be taxed on any of it. Of course, self-direct your ROTH, so you can buy assets you want : GOLD, crypto, Stocks, Real Estate, Art etc.
God bless you, Andrew!)) wish you health and positive energy. Just enjoying your honesty))
Thank you! Wish you you all the best😊
Good Job Andrew!
Insightful, Practical & hilarious 😄
Very important topic.
Excellent points we all should consider while purchasing property overseas. Thanks Andrew
Very true, Amir! Thanks.
What a wonderful picture in the background. Please provide some information about the painter.
Not the painting itself but the colours: gold and turquoise
I'm from Slovenia an I'm mainly interested in real estate in baltics states and Poland but Armenia is really cathing my eye recently( mainly for passport, would work great with my Slovenian passport).
@@charlesogier6469 Taxes in Slovenia are extremely high, I think REAL ESTATE in tier A locations is highly overpriced, Slovenia is not a pro business country in my opinion, Estonia and Latvia are one of the most pro business countries with one of the lowest taxes in EU, real estate is not so overpriced In Riga and Tallinn in Tier A locations you can get great deals for 1500-2000 Euros per square meter in Ljubljana Tier A location would cost you around 4000-6000 euros per square meter. I agree with you and I'm extremely greatful that I was born in Slovenia(great nature, low cost of living ,location and proximity...) but in terms of doing business I prefer Baltic States and Poland, they have similar mentality as Slovenians. Hope that answers you.
@@charlesogier6469 I would recommend you Krakow and Tallinn if you want to focus on Airbnb ans short ter rentals and also Prague but It's getting quite expensive now for long term investments I would go for Riga, Warsaw, Belgrade,Sofia and Slovakia perhaps but only Bratislava but of course pick what suits you I pick countries mainly on criteria that Andrew states. Good luck.
Interesting perspective Andrew and important for me. I am potentially buying property next year in Russia as a foreign buyer and helpful for me to keep these aspects in mind. On a side note this type of video seems to be your exact niche and what made your name become well known as a content creator. Have a nice week!
I’m looking in Scotland. I found a company that made it sounds so easy to start a Limited company and they would handle everything, even the monthly accounting. I’m skeptical now that this is the route I should go. I’ll keep learning before I dive in.
Hi Andrew, another great video,.. I will mention, in some countries, (my experience), you may not have a choice, as a foreigner, you must put yr property into an LLC, such as a home or even your vehicles title. This is my personal experience, as Im not a 7 or 8 figure entrepreneur, i have not commented before. I believe that you present allot of interesting topics, and admire your straight talk transparent delivery, I will add, I believe Turkey has allot of positives, as do the Balkan Countries, all the best Andrew
Anything is better than Australian real estate
@@myprofile8657 Probably because it's stupid expensive but idk there might be another reason
Nobody was complaining 20 years ago when everything doubled.
@@ThelmaThais1 Why wym? I live in Chile
Awesome content, priceless value you share
Thank you
Thanks Andrew for making life easy with your valuable suggestions! Can you make a new video about owning a real estate (such as Condo) in Thailand (Bangkok or Phuket) explaining all latest property investment trends! It would be a great help! What would be better according to you? Owning a real estate or applying for elite visa. Pls explain that also.
Generally foreigners can own a condominium outright in their own name in Thailand, provided that 51% of condominium owners for that building project are Thai nationals.
Foreigners generally can’t own land in Thailand, meaning you can’t buy a house unless the title is in the name of a Thai national, (wife, spouse).
There could be other rules though for big investors who bring in lots of money to own land, but that’s out of my league!
and when you put the house and land in the Thai national’s name you can never get it back when things go sideways
I wonder if it better to just rent to avoid risk and tying up your money. Some Asian countries have overbuilt condos beyond the market need so renting is inexpensive.
Thank you for the suggestion
I wouldn't invest in emerging market real estate even to REITs because emerging means emerging, many variables means many risks. Plenty of REITs here in the west RIGHT NOW, cheap, stable and they provide up to 10% yield, so why bother ? Oh, 10% not enough ? Then maybe you should ask yourself what you really want ?
Thank you! Useful set of tools...
Thank you!
Great video and very timely as we close on a property today,I am thankful that the structure and ownership we have has passed all the 4 tests
I never thought about that! Great video!
Is there any difference to put under one person's name or under two persons' names? ( married couple question)
What about decreasing your ties? If i had property in Sweden, would it not be harder for me to claim i should pay tax in some other country. If that is the only place i own property.
The only 2 reasons I can see some sort of entity making sense regarding real estate in a foreign country are taxes and liability. From this video, it sounds like there might not be much tax benefit at all in most places so what were really boiling it down to is liability.
If you have one property in one country, basically your liability is capped at that property. Properly insure the thing for liability, what more do you need? If you have other assets outside of that jurisdiction, they are protected by virtue of being in a different jurisdiction. Unless you can get something similar to an LLC which has almost no formalities or you have a lot of assets in a particular jurisdiction, it seems like owning property personally should almost always be the way to go.
Needed this video as we are about to purchase a condo in another country. Thank you!
Glad it was helpful!
Hilarious! "Oh I'm going to lunch..." ^^ o haha thank you Andrew, simple, uncommon sense, love it
I'm Dutch living in Thailand for the past two years. I wanted to invest in property here at first but it just seems like a really shady market... and I'm not ever able to become a resident here. You've got me interested in property in Kuala Lumpur, so I'm thinking of doing that. I'd love to see a video about investing over there. Is it as shady as Thailand? Any things to look out for? And I also heard that foreigners can purchase anything if it's 500k+ MYR.. however, is it true that condo's can be purchased for less under a foreign quota or something similar to what Thailand has? My goal is to have a nice 90-120k condo in KL in two years and apply for the MM2H visa. I'll live there and make ocassional trips to Thailand while renting my condo out, or something.
Hey what it actually means that Thailand has shady market? Pls explain.
KL is a nice city but as foreigner you have to buy property over MYR1mil which is required by the government. If you want to keep budget down to MYR500k, you can go choose in Melecca, which is like chiang mai in Thailand. Feel free message me.
You can't or don't want to marry?
Lesson: Keep it simple
I'm looking at Ireland to purchase residential and business property.
I am interested in turkey but I have only have a small budget. What’s is my best way to invest for my family’s future . Is a blind trust a good way to go .
What about natural disasters? Stability is more than just economy. It’s predictability. Western countries stability is often based on the lack of natural disasters like earthquakes. I know friends who left Mexico City because of earthquakes. I would love to own in Mexico City but what if there is another earthquake? Italy, Greece, Turkey all earthquake areas.....is there earthquake insurance?
Force Majeure
I bought 2 properties in Laos using a trust (SMSF).
Perfect! And bonus, of a great laugh. Thank you.
What about US citizens who are residents in foreign countries owning property in their IRA that is in an LLC? A US citizen with residence in Portugal with Non Habitual Residence status for example?
In Portugal you will pay higher property tax when you own real estate via a company.
Like a few posters here, South East Asia is on my radar. Interested in a hybrid between a solid real estate investment and lifestyle choice. I'd be willing to give up a couple percentage points for quality of life. You know us freezing Canadians, it's all about the warm weather.😉
Very difficult for foreigners to "invest" in real estate in Southeast Asia. I think to only country with no restrictions on foreign ownership is Singapore, which ironically has one of the highest property prices(by square meter) in the world.
@@gopherlee9427 but not impossible, what do you think
I wonder how he can keep track of company + tax laws in his portfolio of say 12 countries. Owning a Cayman island company to buy property in say in Germany would possibly allow to accumulate profits int the company untaxed until one needs them. How does he know what company law of which country requires a director or accounting obligations that one can not do by oneself easily? After all, it seems easier to protect one's economics against hostile governments as it is more likely to stay below the radar if ones name is not so obviously attached to a corp.
Just thinking same. Why someone is willing to learn 12 different laws, if you can just invest in your country and travel around the world with less stress.
Real Estate is always liable for taxation in the land where the property sits. In the case of Germany you are going to have to pay taxes "beschränkte Steuerpflicht". Even though you are not owning the real estate in your name.
@@jayvoluntarist5793 and one looses the Grundfreibetrag :-)
Don't forget that, on top of all the ordinary complexities you're pointing out, he also has a business designed to help others. In other words, he has an extra incentive to figure out and manage the complexities.
Free tip: invest where you permanently live and travel where ever you want.
Free is not always the best advice :)
@@omarelmohri haha
What do you think about Guatemala real estate ?
Thanks
I am thinking of buying a property in Greece for a possible Airbnb what are some pros and cons to that?
Agree to keep it simple, and structure invented in westerns world is needed for westerns rules...
Talking about co-ops would be also good.
They are cheap for a couple of reasons which people should be aware of.
does the same advice apply to buying a boat to live on & travel?
This is an older video, but I'm interested in Turkey......
Feel free to contact us at help@nomadcapitalist.com.
In the Bahamas, does the IBC pay the property tax?
I have an interesting Thailand story to share with additional questions.
I’m a Canadian and would like to buy a house in Mexico. Do you know if I would have any problems with the country officials?
many Canadians own property in Mexico.
Phenomenal video packed w superior information. We are interested in Mexico, Central America, and South America. In Asia, Vietnam Cambodia and Laos. Close to Europe and Russia Georgia and the like, Romania, etc...
Thanks a lot👏
Do you lose residency/citizenship if after a couple of years you sell the property and decide to just rent?
In Brazil, you can get a residence visa by investing 1.000.000 BRL in a real estate in the country.
What about estate planning? Property in a trust helps. A big concern with owning offshore assets ie property and trying to wind up your global estate could be a nightmare in your individual capacity
Great point. If one has properties in various countries, it is prudent to have then under one or 2 entities so if the owner dies the transfer to the heirs / beneficiaries will be much easier. Otherwise it could be very awkward, time consuming and costly.
I want to invest in the USA, I am from overseas. What are my options?
Yup, Texas is the spot. I live in CA and can’t tell you how many people in CA are moving to Texas. That means pricing is going to go through the roof. It’s already started
Andrew is awesomelly funny 😂
Sensible advice
I am interested in property in Turkey, Greece, Italy, and Thailand.
Forget Italy or Greece - they probably won’t gain value and if they do, it will get taxed in to oblivion
gnomedex Buying in Italy is purely a lifestyle purchase. I lived in Italy for 2 years, so my reasoning for buying has nothing to do with value appreciation. I simply love Italy and want to maintain my residency status.
gnomedex but you have a point about the taxes.
Owning property in a Latin American country is scary. I've seen too many properties nationalized in Latin America.
Good topic
How’s the process in Turkey ?
Never, if you're planning to stay in the US from an LLC and then have that own the functional equivalent of an LLC in the foreign country. Have an S-Corp own all your US based LLCs for tax purposes.
Croatia
Moving to Grece…
No answer because i never saw it in situ
Hi there,
thank you for that insightful video. We have been pondering upon this issue for some time now. we are property investors in the UK and buying a property in northern cyprus. we automatically think it would be best to buy the cypriot property into our limited company. This property would technically serve as a holiday home and rental. what are your thoughts on this? Anyone on here have had this experience? should we continue the purchase in the company or we should buy in our own names? it is a new built and contracts are not signed yet. ready in Q4 2021 earliest.
Any guidance would be highly appreciated.
Everything sounds great save the covid restrictions and the frequent flying
You took 14 minutes to say "It depends on the laws in the country and your individual circumstances".
Montenego
What if I put a trust in a LLC in my wife’s dog trainer’s name, then nominate that to be managed by a charity I found that has as its director as man who died 5 years ago in an airplane crash?
I am just kidding.
I've watched this one 15 times at least
😂😂😂😂😂😂😂😂
That's nice to know!