It depends a bit on the country. In some countries, you pay to the notary while in others you pay to the seller. Of course you own bank will ask for the source of funds. But also the notary may ask a question in case the whole story sounds fishy. Also note that many agents will ask for a proof of funds when making an offer. You may have to show something there.To what extent buying real estate in Europe (European Union) is liable to produce a request for SOF? If so, when the request would come (before/after) purchase and from whom (bank/police/other government agency)? What would that entail? Proving that money comes from a legitimate source or also proving that taxes have been paid on it? Countries known to be stricter on this?
Asking for a friend.
well they are not as chill as the country your username is in, roughly speaking. But the easiest countries are those which best fit your circumstances.To what extent buying real estate in Europe (European Union) is liable to produce a request for SOF? If so, when the request would come (before/after) purchase and from whom (bank/police/other government agency)? What would that entail? Proving that money comes from a legitimate source or also proving that taxes have been paid on it? Countries known to be stricter on this?
Asking for a friend.
Depends on the country, Price of the property and the regulation -AML. But if you need instant advice - Open or Buy company which has good Credit reputation and big amount of Written Capital in it. This is hint to buy property with low risk. If you need more advices, ask here more, we can help you withTo what extent buying real estate in Europe (European Union) is liable to produce a request for SOF? If so, when the request would come (before/after) purchase and from whom (bank/police/other government agency)? What would that entail? Proving that money comes from a legitimate source or also proving that taxes have been paid on it? Countries known to be stricter on this?
Asking for a friend.
Yes. But the question here is about the EU. Of course, he can buy one in cash on Georgia, sell it and then has SOF for us EU purchase. But there are easier ways than that.I know 4 countries just straight out of my head, where you can bring a suitcase with cash to pay for the property and nobody blinks an eye (even today! Actually they'll ask you to do so, as it's the local custom, withdraw from bank or take out of your safe, and pay the seller in cash, witnessed by the real estate agent).
In developing countries the agent additionally took a few photos of handing the cash to the seller, and everyone fingerprinted the documents (when I did it few years back).
It's not that uncommon at all, one of those is even a G7 country.
Sometimes I think that I am living in a parallel world (thankfully, still free in an unfree world).
You are right, I missed the point. Sorry.Yes. But the question here is about the EU. Of course, he can buy one in cash on Georgia, sell it and then has SOF for us EU purchase. But there are easier ways than that.
Of course. Just go play guitar in the subway and video tape how people throw in their worthless 500 EUR bills in stacks. I am pretty sure this story checks out legit enough as SOF.You are right, I missed the point. Sorry.
Well, would the NFT solution work? Or becoming a famous painter, like Hunter Biden?
This remind me of business practice by many services where you have to pay first and then they will evaluate your business.Some countries, like Greece, are smart enough to first take the money and then ask for a reason why they should not confiscate your property and put you in prison.
Remember, in the EUSSR you are guilty until proven otherwise.
Do you mind telling us which countries?know 4 countries just straight out of my head, where you can bring a suitcase with cash to pay for the property and nobody blinks an eye (even today! Actually they'll ask you to do so, as it's the local custom, withdraw from bank or take out of your safe, and pay the seller in cash, witnessed by the real estate agent).
You may want to add a proof of registration as self employed and some tax demand notices.what would be considered sufficient documentation for someone working as an OnlyFans model? Would all the invoices showing payments to the recipient be considered enough?
very good advise you should consider and listen to.My experience:
France: the notary asked for it "lightly" then she asked for more details just after wiring the money as the French authorities asked to make "an audit" when they saw the incoming transaction landing on the notary's bank account. A "certificate" of my accountant explaining my business, dividends etc. was sufficient.
UK: everyone in the value chain checks the SOF: agent, lawyer, seller. They typically have an app that everyone is using. Very thorough, questionnaire, whether crypto is involved etc. You are recommended to hire a very expensive lawyer if your situation is "complex" and the seller can always refuse.
Thank you so much for that, you saved me so much time and hassle. I actually planned to retire there one day.Andorra: Prepare for pain. Also have a good lawyer who can ease the pain. Everyone needs your SoF (lawyer, banks, notary, government) - full story, tax returns, payslips, police records from passport country + country of residence if different. Banks are bs, you basically need a bank to pay your property bills monthly and they'll force you for to lock up a 100k-500k deposit, and you will have no choice because you have only 3 options (Andbank, Creand, Morabanc). Worst banks with total idiots working there. But if you manage to get in - enjoy the 10% taxes and ski slopes.
What is still on the list?Thank you so much for that, you saved me so much time and hassle. I actually planned to retire there one day.
Quite sad to take it off my list of peaceful places outside the EUSSR, it sounds even worse.
Well it's still valid but to get in you have to have bulletproof history. Or create one if you don't have while it's still possible.Thank you so much for that, you saved me so much time and hassle. I actually planned to retire there one day.
Quite sad to take it off my list of peaceful places outside the EUSSR, it sounds even worse.
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