Are you finally ready to branch out and diversify your portfolio with an investment in foreign real estate? A foreign real estate investment has so many advantages, including diversity, accessing offshore makers, and, in some cases, residency.
In rare cases, immediate citizenship is offered after a high enough investment in real estate. This is especially attractive for those looking to expatriate or those who want to earn a second passport to extend the amount of visa-free travel that is possible. This can play a crucial role in offshore retirement or years of stress-free travel.
There are also a lot of tax benefits that come with investing in real estate offshore. It is one of the few ways that an American can legally keep some of their money offshore privately. When real estate is held directly in an investor’s name, as opposed to in a trust or LLC, the investment is not reportable.
One of the most important reasons investors choose to buy real estate internationally is to save their wealth abroad. By owning foreign real estate, an investor can keep their money outside of the reach of their local government. There are also higher returns in the real estate markets of other countries.
Europe is a trendy place for foreign investors right now, especially for retirees, due to low-interest rates because of the European Central Bank’s monetary policy. Other reasons investors are choosing European, real estate is for asset class diversification, high-income return, geographic diversification, and hedging against inflation.
Some investors are looking for a solid return, while others are hoping to make the new investment their home. Whichever path you want to take, several European countries can make that dream a reality.
Many are surprised to hear that one of the most appealing countries emerging in the real estate hot spot is Greece, especially following an economic downfall. We are here to report that with a recovering economy and attractive real estate prices, this country should be on your list of countries to consider when it comes to investment.
Below we have outlined some of the important information surrounding investing in Greek real estate. Unfortunately, this article cannot act as thorough guidance. For more information on investing in foreign real estate, contact Alpen Partners below!
Investing in real estate
Greece is one of the most beautiful countries in the world, so there should be no question why people are all over the world are investing in real estate. The region has a wonderful climate, and the landscape is unique and inviting, making it an ideal place to hold real estate. If the investment is made for personal use, the investor and their family will be able to enjoy a wonderful lifestyle. If the investment is made to generate income, they should have not problem getting visitors to rent the place.
Further, Greece is in the Schengen Region, which means if an individual moves to the country and becomes a resident, they will be able to move throughout the 26 European counties in the region visa-free for up to 90 days every six months. This could be an ideal situation to be in because more travel means real estate holders can rent out their property while they are gone to generate more income.
Economically speaking, the Greek economy recovering from a downfall, and it is happening faster than expected. While businesses are still recovering, investments are not as expensive as they used to be, especially property.
More than just an investment
The Immigration and Social Integration Code allows non-EU nationals and their families to gain residency in Greece through an investment in real estate. This is known as the Greek golden visa, launched in July 2013.
This is appealing for those looking to gain a home to live in while in Greece, individuals looking to diversify their portfolio while earning a European residency permit, or anyone looking to earn a faster route to Greek residency.
To qualify for this program, investors must make a minimum investment of €250,000 into a real estate property, a 10-year timeshare agreement, a 10-year lease for hotel facilities, or furnished homes in combined tourist facilities. The property can be either residential or commercial.
The residency permit that is granted lasts for five years but can be renewed when there is proof that the individual still owns the property.
There is also an incentive for wealthy foreigners to move to and invest in the country. The lump-sum tax legislation allows qualified investors to pay a single lump sum each year.
Your wealth is important. If you are serious about your life goals, financial planning and investments are probably important to you. Financial planning can involve many steps, from tax optimization to asset protection. Different investments have different rules with different returns.
With the help of financial planning, you will be able to predict where you will be in the years to come by evaluating where you are currently, what sources of income you plan to have in the future, investments you plan to make, and your retirement plans.
Alpen Partners Wealth Management International AG, the sister company of Alpen Partners Wealth Management AG, is now a registered investment advisor with the U.S. Securities and Exchange Commission (SEC). Together with our partner Swiss private banks, our company can now offer the full Swiss private banking experience to American clients, both resident, and non-resident.
No matter if you are investing in real estate for personal reasons, to generate more income or gain residency in a new company, Alpen Partners can help you every step of the way. Alpen Partners also has the expertise to assist individuals with relocation needs. For more information, contact our team today!