Buying in Georgia (USSR)

[phester]

As georgian banks trade in us dollor. I live in Ireland. Is it possible for me to appoint someone else to purchase the property in Georgia on my behalf. I will sign the contracts and send them back. I would guess I can use xe.com and a Bank in Ireland and wire the money to georgia.

If I sell in the future will I have to pay capital gains tax if I Make a profit


Any one info on any part of this

 

[soy]

If I sell in the future will I have to pay capital gains tax if I Make a profit


Any one info on any part of this

You WILL have to pay Irish capital gains tax on any profit and Irish income tax on any rental income. You may also have to pay Georgian taxes. Search www.revenue.ie to see if there is a double tax treaty for Ireland & Georgia.

 

[phester]

I love the way the tax system works. you take the risk they get benefits.

I would be leaving any rental all be it small in a georgian bank A/C and spending it when I go on holidays there. you are only taking about $2500 pa. If I purchase a site with an apt on it and later invest money in building an extension and loose money on selling the overall apt then I pay no tax?

With the georgian workforce being payed cash and any receipts being in a foreign language how do I inform the government of monies payed gained or lost in the upkeep or disposal of the flat