Live and Invest Overseas By Kathleen Peddicord

What Every Overseas Property Buyer Should Know

Nov. 18, 2014, Panama City, Panama: The Global Property Summit taking place in Panama City, Panama, March 18-20, 2015, is the best place to start your overseas property buying adventures.

Dear Live and Invest Overseas Reader,

I bought my first overseas property almost 14 years ago. Since then, properties have financed a good portion of my retirement. They also make up more than half of my income.

Perhaps more importantly, I've also been able to live in some fascinating and enjoyable places along the way.

I've developed and honed my property-buying skills over the past 14 years while spending literally tens of thousands of dollars on travel costs.

I've worked with some great real estate agents...as well as some crooks and scammers. Most didn't speak English.

Eventually, it worked. I'm good at this now.

While my means of getting there is not for the faint of heart, it's definitely one approach you can take.

But let me to give you some sound advice. There's a better way to go about this.

And it deserves very serious consideration from anyone who's considering buying a property abroad or who wants to see what their options are, quickly and efficiently.

Specifically, I recommend that you:

Join me at the Global Property Summit, March 18–20, 2015, in Panama City.

Let me spare you the sales pitch and get to the point.

We've put together a three-day event—the only event of its kind planned for 2015—that brings property experts from around the world together in one place at the same time.

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Why Panama Is The Best Place In The World To Base Your Business

May Day, 2013,Panama City, Panama: Panama offers many important advantages for the entrepreneur running an international or laptop-based business.

Dear Live and Invest Overseas Reader,

You make three decisions in life that matter. You choose what to do to support yourself. You choose who to come home to at night (or maybe you choose to come home to no one...fair enough). And you choose where to come home.

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Property Rush In Grenada Ahead Of New Invest For Citizenship Program

Aug. 16, 2013, Panama City, Panama: Grenada has bounced back from their position on the money-laundering blacklist, as a compliant, economically stable Caribbean investment destination.

Dear Live and Invest Overseas Reader,

Grenada's new government is expected to revive its "Citizenship By Investment" program before summer's end. The island is struggling with debt and hopes the program will create some much-needed cash flow. 

 

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Why Retire Overseas?

Dec. 31, 2013, San Diego, California: Living and retiring overseas is about much more than reducing and controlling your cost of living.

Dear Live and Invest Overseas Reader,

Lief, the kids, and I have been traveling in the States for the holiday season this year. We enjoyed Christmas with my family in Baltimore and now we're in San Diego to ring in the New Year with friends.

Standing in line in Target the weekend before Christmas in Baltimore, our cart overflowing with super-discounted stuff we'd decided we couldn't live without and had to buy to lug back to Panama with us, Lief asked me the question that we can't help but return to from time to time: 

"Why do we choose to continue living overseas? Wouldn't it be easier and maybe even cheaper to move back to the United States?" he wondered. 

Some things would be more affordable, yes. (Thus the annual Target shopping spree.) Important items in our budget, though, would become more costly--health care and health insurance, for example. And, returned Stateside, we wouldn't be able to afford little luxuries like full-time help around the house or a full-time driver.

The real point, though, is that, after more than 16 years living outside the States, we've learned not only that we can control our cost of living, within parameters, anywhere we decide we want to live...but also, more important, that cost of living isn't the best reason to think about moving to another country in the first place. 

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Offshore Structures—What Do You Need, How Much Is Too Much?

Sept. 25, 2014, Panama City, Panama: When deciding what offshore corporations, trusts, IBCs, or other structures you need, less is more and simpler is better.

Dear Live and Invest Overseas Reader,

A consulting client came into our office yesterday to ask me some questions about how to structure property investments he's making in Panama and Colombia. This client has been working with attorneys in both of these countries as well as in the country where he set up his LLC, but he wanted to make sure he's fitting all the pieces together as advantageously as possible in the context of his big-picture goals.

"In the context of his big-picture goals" is the critical phrase here. No single entity or set of entities fits every situation. What you find, though, is that whatever advisor you work with has his or her individual experiences and advises based on what he or she is familiar with.

Most Panamanian attorneys, for example, will advise you to put any property purchase into a corporation. Because that's what they do in Panama, both locals and foreigners. Historically, this has been to avoid capital gains tax, which is not imposed on the sale of company shares. You could set up a single-purpose corporation to hold a piece of property, then, when you wanted to sell that piece of property, you were in fact selling the company that owns it...meaning no capital gains tax issue.

Panama changed the relevant tax rule years ago, but people in this country still put real estate they buy into Panama corporations. There are other reasons why using a Panama corporation to hold your Panama real estate can be a good idea, but you should understand them before taking a Panamanian attorney's blind recommendation. Don't let custom dictate how you organize your affairs. Question the reasons why you're being advised to do whatever you're being advised to do, in Panama or anywhere.

The client who came in to meet with me yesterday had been advised by his Colombian attorney that, if he wants to have the title for the property he's investing in in that country issued in the name of his offshore LLC, he'll need to have the LLC documents officially translated and apostilled. That is mostly accurate. I confirmed with my attorney in Colombia that, yes, the LLC documentation must be officially translated but only the certificate of formation...not all 20 pages of the articles of formation. That difference saves money and time on the translation.

Read more...

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Kathleen Peddicord

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.

Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.

Read more here.

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