How to Avoid the Pitfalls When Investing In Overseas Property
I am sure you see a lot advertisement on the paper on Offer to Invest in Overseas Properties.
Some even promised a very high and attractive potential return.
Normally, the agent will run a seminar educate the potential investors.
Never allow your heart to rule your head.
If you buy into a wrong property (both local and oversea) then the damage can gave a big impact in your financial life.
Before you invest any Property Abroad, do consider the following concern:
- Do You Thinking About Getting Rental Income Or Use As A Holiday Home?
- What Is The Main Tax Issues?
- If You Sell The Property, Are You Subject To Capital Gain Tax?
- What Is The Tax Treatment For The Income Generated From Property Rental?
- What Is The Restriction On Selling The Property?
- Can The Local People There Buy Or Rent Your Property?
- Who Will Manage The Property?
- How Much Is The Duty And Conveyance Fees That Are Normally Payable By The Purchaser?
- What About The Currency Exchange Rate Gain or Loss?
- Will You Visit The Property?
- How About The Legal Issue?
Last but not least, is to take your time doing property research before committing anything.
Just follow the above concern in order to minimized the risk of investing in wrong oversea property.
Never be rushed if you are not 100% certain that the property investment opportunity is for you.