The HIRE act will make it expensive (30% taxation) and difficult for
US Citizens and US bank account holders to invest or purchase real estate
outside of the USA. You can see previous posts here
The HIRE act originally
stated that these taxes would come into effect on the 31st of December 2012.
The IRS has announced that it will delay the implementation of these taxes until the 31st December 2013.
Whilst this is good news our advice remains the same, if you are seriously considering a home purchase or investment outside of the USA you should move funds as soon as possible. After all you can always bring them back, should you decide not to proceed!
The time extension is good news but there are stories of banks already (incorrectly) levying the tax and of course the IRS may decide to implement this already enacted law (2010) sooner rather than later.
If you are unsure about your long term plans but want to place your funds in a secure high return CD investment see more about our program here:
http://www.costaricainvest.ie/CD_Eco_Mortgage.html
This program can also be combined with Costa Rican residency application.
If you need more information, just contact us on USA +1-866-990-1123 (toll free) or Europe +353-1-272-4184 or by e mail at info@costaricainvest.ie
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