Invest in Real Estate in Another Country?

[Canibul]

We bought an acre overlooking the ocean on Providenciales, Turks and Caicos Islands in '05. Built a house on it, moved in a year ago. It is very easy for US citizens to buy here. In fact, it's one of the best places around. You pay a one-time 10% tax when you first buy a property. No more taxes after that. Ever. No property tax, no school tax, no income tax, no capital gains tax, etc. If you buy just land, you pay the one time ten percent on the price of the land. If you build on it, no taxes on what you build. If you buy a property with a house already on it, you still pay the ten percent one-time tax ( they call it a Stamp Tax) on the total value of the place.

TCI is a pretty good location for US citizens to own property. It's close enough to Miami to hop down for long weekends. In our case, the US is close enough for us to run up for weddings, shopping trips, etc. since we live here full time as residents.

[David_Old_Jersey]

Originally Posted by Canibul

No more taxes after that. Ever. No property tax, no school tax, no income tax, no capital gains tax, etc.

"Ever" is a long time........

......whilst I have no reason to doubt that this will continue forever, when it comes to taxes never any guarantee of that. Especially somewhere that the economy relies on a large chunk of money from offshore financial services.......when Obama is on the war path over Tax Havens. Not to say that the locals will nationalise yer house But lost revenue will have to be made up from somewhere........

https://www.cia.gov/library/publicat...k/geos/tk.html

Having added that note of caution It's somewhere I fancy having a looksee at in due course . I just wouldn't bet me farm if ever moving there........

[Ram]

Yes- laws change before forever comes

[Canibul]

Okay, okay. Scratch the term "Ever". But as of now, this is still the case. I can't think of any place else like thisl.