Foreign Property Investment

D

Deirdre O'Sh

Guest
My sister and I are interested in investing in property abroad. We are considering buying in Bulgaria, France or Croatia. Do people have any advice in relation to buying in these countries? Where would you recommend we invest and why? What aer the pitfalls we need to look out for? Do you know of any independent investment advice companies we could talk to?
 
Hi Deirdre - It might help others to understand where you are coming from if you could outline your reasons for choosing foreign property as the best investment option for you, given all the other options available to you.
 
Thanks for your reply. We recently inherited some money and are keen to invest it wisely as part of a pension plan. We though property was the best choice - due to capital gains, however we thought that we may make more on our investment if we bought abroad. However we are opne to other suggestions and recommendations.

Deirdre
 
How did you arrive at the conclusion that (foreign) property was the most appropriate investment for your needs or that foreign/Spanish property offers the best opportunity for capital appreciation? Have you considered the significant tax breaks available to you if you invested some of the money in a pension fund? Have you sought independent, professional advice from an authorised advisor or good multi-agency intermediary who will be better placed to do a fact find, review your overall financial/personal circumstances, goals, timeframe(s) attitude to risk.volatility etc. and suggest a range of possible investment alternatives matching these? Have you read some of the general guides/threads on savings & investments to get a better idea of the sort of trade-offs and alternatives to consider?
 
Hi Deirdre - If you're looking for a pension, why not simply put it in a pension plan? That way you'll get full tax relief on the contributions you make (subject to Revenue limits).
 
RainyDay said:
Hi Deirdre - If you're looking for a pension, why not simply put it in a pension plan? That way you'll get full tax relief on the contributions you make (subject to Revenue limits).
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Isn't saying "full tax relief" a bit misleading. When withdrawls are eventually made on the pension, doesn't tax have to be paid?
 
If you are currently paying tax at 42% + 6%(PRSI). When you retire some if not all of this income (pension) will attract tax @ 20% or maybe even no tax. Very generous tax credits for those over 65.
 
tiroileain said:
Isn't saying "full tax relief" a bit misleading. When withdrawls are eventually made on the pension, doesn't tax have to be paid?
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Hi TirOileain - In addition to asdfg's point above, don't forget that there is also the tax-free lump sum that can be taken at retirement.
 
Clubman

Could you point us in the direction of an authorised advisor or multi agency intermediary.
Thanks
 
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