Before even considering making a property investment overseas, there needs to be a lot of reading, researching and education. You must know every scenario before it happens to get the most out of each investment.
One piece of reading you should undertake is on NuWire Investor. Former real estate sales agent Heather Langley wrote that there are a few steps to take to ensure your success with a new property overseas, including taking the proper taxation advice.
Make sure you appoint an advisor who has good knowledge of the taxation laws and can advise you of any changes that might affect you. A change in capital gains tax rules for overseas investments can have a big impact and might easily influence your timing on when to cash out and move on or whether you need to re-structure your deal in some other way.
Successful international property management is undoubtedly one of the ways in which you can increase your wealth, but you need to follow a proven strategy and be prepared to listen to others at times, if you are going to get the best possible returns.
Read more about international taxes and four other tips for investing overseas on NuWire’s website. Have you ever tried to invest internationally? How did it turn out? We want to hear your stories. Let us know at [email protected].