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But reach out to a real estate attorney or experienced real estate professional — one specializing in overseas transactions — who can help you with the paperwork and guide you through the process.
A new income tax law, passed in 1997 and effective 1998, determined residence as the basis for taxation of worldwide income. [168] The Philippines used to tax the foreign income of nonresident citizens at reduced rates of 1 to 3% (income tax rates for residents were 1 to 35% at the time). [169]
What would make you purchase a home in another country? Perhaps you were inspired by the $1 Italian villas that made headlines, or the lavish lifestyle that you could afford in Costa Rica and other...
Spain. Like its Iberian neighbor, Spain offers a Golden Visa program that grants residency in exchange for property investment. By investing roughly $500,000, you can gain residency in Spain and ...
The new expatriation tax law, effective for calendar year 2009, defines "covered expatriates" as expatriates who have a net worth of $2 million, or a 5-year average income tax liability exceeding $139,000, to be adjusted for inflation, or who have not filed an IRS Form 8854 [20] certifying they have complied with all federal tax obligations for ...
The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), enacted as Subtitle C of Title XI (the "Revenue Adjustments Act of 1980") of the Omnibus Reconciliation Act of 1980, Pub. L. No. 96-499, 94 Stat. 2599, 2682 (Dec. 5, 1980), is a United States tax law that imposes income tax on foreign persons disposing of US real property interests.