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Where can you buy Real Estate for cash in EU?
- Thread starter hatsuri
- Start date
Depending on your planned investment amount, I may have an option or two for you in seaside Spain.
NVO
NVO
Long before there were restrictions on the use of cash, usually to avoid cap gains and transaction fees & taxes, many properties in the EU and other places were sold on paper for one low price, and the notaries co-operated in giving the parties at the closing, time to "settle the difference" in a separate private room before returning to sign the final deeds, etc. In Turkey today, where there is a very active market, the cap gains tax is based on the Turkish lira price originally paid. As inflation has pushed up many real estate prices by a factor of 10, the cap gains tax is totally unreasonable. Thus under the table cash money or exchange goods like crypto or gold are used to close most deals at well below the declared price.
I don't understand why anyone would pay cash. Anywhere in the EU, there are fees, stamp duties and the like, meaning the price has to be written down in the sales contract. And a low price would bring suspicions... Tax men everywhere in the EU are watching property transactions (in some countries, they're watching very closely). There are also proof of funds issues.
A bank transfer is also safer as it gives a proof of payment.
A bank transfer is also safer as it gives a proof of payment.
A cash payment can be 100% legit and declared like a bank transfer. By the way lowering the official price is always possible. Before and after the transaction. If you are not dumb then nobody ever will find out. Its hard to justify a 90% price below the average but if the gap is not that big then you find always an explanation.
Indeed, not the brightest to buy real estate in Serbia.
Same is valid for many other places - Gloom, Boom, Doom - mainstream never learns.
There is no real estate transfer tax in the CZ, so the tax office only focuses on monitoring whether the seller has paid the relevant income tax. Some people have income tax exempt properties so they are willing to quote a higher price. The purchase agreement states the purchase price, but does not have to state when and how the purchase price was paid. So, for reasonable amounts, it is possible to create conditions for payment in cash.
because of money laundering ofc, the same as in North Macedonia, Albania (wild west there) and Montenegro
Money laundering 'as a statement' is thrown around far too much and easily these days.
Most average people accused of money laundering after exercising their rights to a fair trial, and spending a hefty sum, it is found out they had proper legal structures, and legal tax avoidance processes, but because they are so broke by that point defending ones name becomes un-worthwhile.
Arguably the Russia war showed how ridiculous these claims are when after decades of legally bringing money (in to the UK as an example) which was 'legally' just unethically earned in Russia etc was invested into assets, the moment the West fell out, it was illegal money and money laundering, seized and/or re-distributed.
Interesting @JohnnyDoe - you've been offloading heavily the past few years lol, we was looking that way pre-covid at italy, tax wise it looked attractive at the time.
Feel free to send me a email s050cr+cml6cj6eenbko AT sharklasers.com with details would be interested to learn more.
Will be a disposable and I'll respond via Personal to your personal.
I was having this discussion just the other day, when you sell your car privately in the UK, it may be sold for say 30k cash, you just give them a slip and post the other part of the document.
- You don't see screaming about money laundering for second hand car sales in the UK like you do a 1k crypto deposit lol
Years ago, was looking at opening a office in Europe (romania) anyway when i started discussing a property there with the developer, he outright said to me - i prefer cash, second property half price and i knock both down on paper.
In hind-sight should have gone with it, those properties were 120,000 EURO each (before discounts) now worth 800,000 each lol
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it's a €1.5m property in a highly touristic area. Will probably sell it next year. More info in PM.
@wellington, sorry if my statement sounded misleading. What I meant is that drug money, direct money from drug selling activities is put into duffel bags and channeled to the West Balkans. We're not talking about fancy tax avoidance operations, it's direct cash being used to buy properties or to fund construction without background checks.
Never received PM, though to be honest, I wouldn't be putting 1.5m into Europe right now... Risk levels for wealth transfer in are off the charts, little holiday property that can be walked away from if needs be is always a nice asset to have though.
You can’t receive one
with the current levels of inflation it is smart to own some real estate
There are simple solutions for that
There is abundance of little properties, better to seek quality in exclusive locations, even better where there are limitations for new buildings and strict environmental rules.
I can sell the company that owns the property, so we can avoid notary and taxes and complete the transaction in 5 minutes without anyone knowing.
Almost every country which has set limits for a cash transsctions let some loolholes in a law. The most jurisdictions waive the cash limit conditions for buying/selling of financial instruments.
So you can set in a real estate property that payment is made by a financial instrument issued by a property buyer. And this financial instrument is cashed out just a few minutes later.
It is just about a little paper work.
So you can set in a real estate property that payment is made by a financial instrument issued by a property buyer. And this financial instrument is cashed out just a few minutes later.
It is just about a little paper work.
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