When it comes to investing in residency
or citizenship abroad, we’re your experts.
With years of experience in property investment, Global Citizen Solutions provides a personalized service to each client, relying on statistical data from market transactions, real estate intelligence, and the support of a wide network of trusted partners.
Having an expert on-hand every step of the way to advise you on required contracts and legal obligations may prevent you from making a costly misstep. It also means you know exactly what to expect from your investment, as tax and legal technicalities can vary depending on the market and your specific financial circumstances.
Our real estate division located in Portugal — Goldcrest — works as an independent buying agent to help you find and acquire the best property investment suited to your needs. Goldcrest leverages local connections to ensure correct property reviews have been conducted, which is a key requisite for buyers unfamiliar with the Portuguese property market.
Taxes on real estate transfer exist in almost every country and are usually charged as a percentage of the purchase price. This is part of your investment cost and must be factored in before the investment.
An annual tax for ownership of property is common in most countries in Europe. One notable exception is Malta, which does not tax owners for their property after the initial purchase.
Local inheritance laws and gift taxes must also be considered in the property purchase since they are core components of a comprehensive residency investment plan. In-depth knowledge of local inheritance laws is necessary, as the specific requirements can be difficult to interpret depending on individual circumstances. Spain, for example, has a progressive inheritance tax which is calculated as a percentage of the inherited property. In contrast, Portugal does not impose any inheritance tax on its citizens.
Equally important are mandatory inheritance laws, in which immediate family members (usually the spouse, and then children) are obligatory inheritors. Depending on investors’ official residency and citizenship, some countries may apply the inheritance laws of the country of origin. The complexity of the interpretation of inheritance and gift tax laws means that it’s essential for investors to seek local advice from an expert before making a property investment.
When investing in foreign property, it’s important to consider not just the terms of the purchase of a property, but also the sale. Capital gains tax can be up to 50% or more in some countries in Europe, and the percentage that you pay can also depend on whether you’re a resident or not in the country. Changes in legislation can occur after your purchase, but it’s important to have a clear understanding of the terms of the sale and the taxes investors may incur.
Residency and citizenship rights are not the same in every European country, and the entitlements you may receive from the investment varies from program to program. For this reason, it’s important to consider whether residency investments allow access to the Schengen zone, and what type of visa and freedom of movement agreements the country has with other nations around the world. Some passports in Europe are more powerful than others when it comes to travel and business agreements, and this should always be factored in your decision.
Tax planning will always be a key priority when making residency investments. We find workable solutions that fit your unique circumstances and desired investment.
When you’re ready to commit to investing in a property abroad, it’s important to choose one that’s government-licensed to operate. For example, both Global Citizen Solutions and its real estate division — Goldcrest — hold forth unique license numbers.
AMI Registration 17987
At Global Citizen Solutions, we work solely on your behalf. We are dedicated to providing a specialized service to each of our clients with the knowledge that comes with years of expertise, as well as access to a proprietary database of market information. We give the insight and data analysis to allow our clients to make investments with confidence.
