Category: Other Countries

Investing in Macau Real Estate: By JML Property

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juliet-risdon

Formerly a Portuguese colony until 1999, Macau has the 3rd highest GDP per capita in the world, it’s also the most densely populated region.

Probably you already know that it’s famous for being a gambling mecca as well.

Often overshadowed by news telling about the frenzy in Hong Kong’s property market, many know little about what’s going on a stone’s throw away, in Macau.

Juliet Risdon works as a Designer and Director at JML Property, a leading real estate agency on Macau, founded in 1994. Their international team has helped many foreigners with services like buying and selling property, tenant property services, repair procedures and more.

Macau is interesting for sure, a reason why Juliet has been interviewed by newspapers like the NY Times, Reuters and Financial Times.

Let’s see what she has to say about the property market in Macau.

Juliet, what are the general regulations when buying a property in Macau as a foreigner?

The only areas where the Macau property market discriminates between foreign and local buyers is the additional 10% stamp duty that is applied to foreign buyers and the limitation on land ownership.

Foreign individuals and legal entities can invest in as many properties- residential, industrial or commercial- as they would like.

Most people hear about the property market in Hong Kong when reading the news, Macau is less mentioned. How has the property market performed in Macau the past decade? Have prices increased much like in Hong Kong?

Continue reading Investing in Macau Real Estate: By JML Property

How Colliers Help Asian Investors Buy Property in the UK: By Ashley Osborne

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Ashley Osborne Colliers

Ashley Osborne, Head of UK Residential at Colliers International, has more than 20 years of experience working helping Asian property investors buy property in London.

Currently based in London, Ashley also spent years in Hong Kong, giving him a unique perspective of the ‘supply chain’ that covers both ends of the market.

In this article, he explains how Colliers International helps both private and institutional investors in the UK, and why you may want to look outside of London.

Ashley, please tell us a bit about yourself and what you do at Colliers International

I head up the residential business in the United Kingdom and within this division, there are four principal areas of operation including Residential Development (i.e. the sale and acquisition of residential development sites across the UK), PRS – Private Rented Sector (acquiring and selling build-to-rent residential assets to the institutional markets); New Homes (the sale of new-build houses and apartments within the UK) and selling UK residential properties throughout our Colliers International offices and affiliated partners globally.

Prior to my current role, I was based in Hong Kong working for Colliers International as Managing Director of our International Properties business.

Alongside a highly committed management and sales team, we established one of Asia’s largest international sales platforms.

You have extensive experience with Asian property investors. How do you reach out to prospective buyers in the region?

Like all markets, there are many different types of property investors with varying requirements and stipulations.

Regardless of geographical and investor nuances, on the whole, buyers look for two key things: a high-quality product that represents good value for money and secondly, excellent customer service.

As a business, our sourcing and due diligence teams have concentrated their search on finding high-quality developments built by ‘best-in-class’ developers and there is no doubt that having a great product constructed by reputable companies with a proven track record is key to attracting buyers.

In many ways, this is half the battle and we have been lucky enough to work with some of the best UK developers. Continue reading How Colliers Help Asian Investors Buy Property in the UK: By Ashley Osborne

Property Tax for Overseas Property: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

Property tax is almost universal and one of the oldest forms of taxes. It’s imposed by almost all countries in the world, on persons who own property.

No matter where you’re buying a property, it’s often difficult to escape from property tax. There are some exceptions, for example, Qatar, Saudi Arabia, and a few other Middle Eastern countries.

There’s a huge variation in the amount you have to pay in property tax, depending on where you live.

This article explains the details you need to know about property tax in different countries.

Continue reading Property Tax for Overseas Property: A Complete Guide

Withholding Tax for Overseas Property: A Complete Guide

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withholding-tax-foreigners

If you decide to buy a property overseas, it’s important that you’re aware of the different mandatory taxes.

Most governments from all around the world tax your income in different forms. One of these taxes imposed on your income is called withholding tax.

If you’re an investor who is interested in buying property in other countries to generate income through rent or by selling for a higher price, you may have to pay withholding tax on your rental income or capital gain.

In this article, I explain all the essentials you need to know about Withholding tax.

What is Withholding tax?

Withholding tax, also known as retention tax, mostly applies to employment income for residents. For non-residents, it applies to income generated through rent or the sale of real estate. Continue reading Withholding Tax for Overseas Property: A Complete Guide

Capital Gains Tax when Buying Overseas Property: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

If you’re buying property in a foreign country as an investment, that is, to sell the property after some time to make profits, make sure you have good knowledge about the Capital Gains Tax rate.

Capital Gains Tax, or CGT as it’s sometimes called, sometimes comes as a surprise to sellers, when they try to sell for profit. Unaware of the tax at the time of buying, some people don’t include it in their calculations.

So: it’s important to learn about CGT in advance, before buying property, especially if you buy (investment property) to get a high price appreciation.

Learning about CGT helps you to make a more accurate calculation of the profit you can make in the next few years.

In this article, I have provided more in-depth information about CGT, what it is, how it’s calculated and local regulations and rates. Continue reading Capital Gains Tax when Buying Overseas Property: A Complete Guide

Stamp Duty when Buying Overseas Property: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

If you’re buying a property in any part of the world, the first tax you’ll probably hear about is stamp duty.

It’s important to learn about stamp duty, the rate, the thresholds, how to pay it, when to pay, and all the legalities involved.

In fact: in most cases, stamp duty is the highest amount of tax you pay on the purchase of a property.

Other than a few exceptions, like when buying property in New Zealand, and other countries that are actively looking for foreign investors to invest in the real estate, stamp duty is a mandatory tax when buying property.

Continue reading Stamp Duty when Buying Overseas Property: A Complete Guide

What is the Role of a Solicitor When Buying Property?

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Solicitors office

Buying a property is probably the biggest investment you ever make in your life.

It involves the transaction of a decent amount of money, a lot of documents, and a, sometimes, tiring conveyancing and legal process.

When you’re buying property in a foreign country, the risks increases as you often don’t understand the local laws, legal process, language, and documentation involved.

That’s why it’s highly recommended, if not mandatory, to work with a solicitor when buying property.

In some parts of the world, solicitors are also known as conveyancers. By definition, there is a difference between a solicitor and conveyancer, but they do exactly the same job when it comes to handling procurement of property.

The Difference between Solicitor and Conveyancer

A Solicitor is a qualified lawyer who can provide you full legal services, including assistance in buying property.

A Conveyancer, on the other hand, is specialized in legal matters related to property, and cannot provide help in other legal matters.

Continue reading What is the Role of a Solicitor When Buying Property?

How to Buy Off-Plan Property: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

Prices of the housing market are on the rise all across the globe. This makes it a lucrative investment opportunity but also difficult for investors to get into real estate.

This is why many Asian investors seek affordable but yet profitable real estate investment alternatives.

One of such alternatives is off-plan or pre-construction property.

Real estate investors in Asia are always looking for opportunities to maximize their profits. Off-plan property is also a similar opportunity that allows you to secure high returns on your investment in one to three years.

Even though the idea of buying a property that is not yet constructed doesn’t make sense for many. Yet, it is one of the most profitable real estate investments for investors.

But only if done right…

off plan property Continue reading How to Buy Off-Plan Property: A Complete Guide

Buying Property in Canada: The Ultimate Guide

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buy-property-canada

Foreign property investors have flooded the Canadian property market in the past years. We’ve seen a similar trend in the US, especially in cities like San Francisco and Los Angeles.

Personally, I like Canada a lot as it’s politically stable, has great infrastructure, healthcare, education, and breathtaking nature, just to name a few.

I’m not alone and cities like Toronto, Vancouver, and Ottawa have welcomed many Asians over the years, who have the same perception.

Here, you’ll find buyers who either want to relocate, send their kids overseas to study or have a safe place to store some cash assets.

As such, the property prices have increased much in the past years, especially in the bigger cities and in British Columbia (BC). Yet, it continues to be a hot spot for overseas investors.

Therefore, I decided to write this guide where you’ll learn how it works when buying real estate as a foreigner in Canada.

Topics covered in this article:

Can foreigners buy property in Canada?

You have no general issues buying properties in Canada as a non-resident foreigner. In fact, the buying process is pretty much the same as for local citizens.

The only major difference is that foreigners are subject to the so-called Non-Resident Speculation Tax (NRST) that I will go into greater detail about later.

Continue reading Buying Property in Canada: The Ultimate Guide

How to Buy Property in the UK: A Complete Guide

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london-property

Some people predict that property investments from Asian buyers will decline in the UK, due to the current turbulence in the market. But reality shows something else.

To me, it’s not surprising why many Asians continue to invest in the UK. It’s a perfect place for Asians to find quality education, and I’m not only talking about the bigger cities, like London.

If you plan to let your children reside in the UK for a longer period of time, or reside there yourself, you should jump on the property train earliest possible.

Topics covered in this article:

Continue reading How to Buy Property in the UK: A Complete Guide