Solutions
UK Property Bought by Foreign Corporate Owners
Some of our clients who have some form of offshore interests feel the temptation to purchase property overseas. We find our North American clients tend to look at the Caribbean or Central America and places like Costa Rica and EU residents often consider buying overseas in nearby France, Spain, Cyprus, Italy or Portugal; and most of the times, currently, also looking for business opportunities due to so under-priced property, due to the market crash.
But in any case, people who own or intend to own property abroad do not fully understand or recognise the implications of Capital Gains Tax, Inheritance Tax and the peculiar rules relating to Forced Heirship.