Foreign Property Ownership
Sovereign assists many of its clients with the acquisition of real estate worldwide. We advise on tax and structuring, and can also manage the transaction process and financing arrangements. With our regional knowledge of property ownership laws and regulations, along with our tax planning expertise, we can help clients to reduce any potential exposure.
Most people who own or intend to own property abroad will not be fully conversant with local legal procedures or taxes – stamp duties, municipal and wealth taxes – and may not fully recognise the longer term implications in terms of potential exposures to capital gains tax, inheritance tax or forced heirship rules. Substantial benefits may be derived through the use of corporate, trust or foundation structures to address these issues.
Issues that would-be buyers need to consider include:
Sovereign has long experience in structuring foreign real estate ownership. We appreciate that each family presents a unique set of circumstances and will work to balance their residence requirements with their estate planning needs and to structure ownership of real property to the family’s advantage.
Through our global office network we have built particularly close relationships, over many years, with lending institutions, leading agents and foreign lawyers, enabling us to offer our clients a seamless and consistently high-level of service when acquiring real estate across the world.
UK property is a particular area of expertise. Sovereign can assist clients in the sourcing, financing, acquisition and ownership structuring of residential, ‘buy-to-let’, and commercial and development properties, regardless of the client’s domicile or their current country of residence.