4 Lessons We Learned Renovating Rental Property Overseas
In advance of the purchase of the property known as Lahardan House, the 200-year-old Georgian manor home we bought years...
Read moreInformation Type | El Salvador Data |
---|---|
Population | 6,486,205 (June 2020 est.) |
Gross Domestic Product (GDP) | $27 billion (2020 est.) |
GDP Per Capita | $3,700 (2020 est.) |
Inflation Rate | 0.06% (June 2020 est.) |
Currency | US Dollar |
Exchange Rate | 1:1 (US Dollar is the official currency) |
Language | Spanish (official), Nahua (among some Amerindians) |
Capital | San Salvador |
Population of Capital City | 3,839,076 (2020) |
Time Zone | UTC/GMT -6 hours |
Seasons | Rainy season (May to October); dry season (November to April); tropical on coast; temperate in uplands |
International Dialing Code | 503 |
Electricity | 115V, 60Hz |
System of Government | Republic |
Name and Party Affiliation of Current Leader | President Salvador Sanchez Ceren (Since June 2014) |
Income Tax Rate for Residents | Residents are only taxed on their Salvadorian-sourced income at progressive rates, from 10% to 30%. Non-residents are taxed via withholding at 20% or 25% on certain types of Salvadorian-sourced income. |
Property Tax | 0.00% (Other fees include; 0.63% for registration, 3.00% for transfer, 0.15%-1.00% notary) |
Capital Gains Tax | Capital gains earned by non-residents from selling property in El Salvador are taxed at 10% |
Inheritance Tax | Inheritance is subject to income tax rates |
Rental Income Tax | Non-residents are charged 30% tax on net income derived from leasing properties. |
Sales Tax | 13% |
Restrictions on Foreign Ownership of Property | No |
Local Chamber of Commerce | http://www.camarasal.com/ |
American Chamber of Commerce | http://www.amchamsal.com/ |
Primary Exports | offshore assembly exports, coffee,sugar, shrimp, textiles, chemicals, electricity |
Residency and Visa Requirements | To enter the country by air or sea, U.S. citizens must present a current U.S. passport and either a Salvadoran visa or a one-entry tourist card. The tourist card may be obtained from immigration officials for a ten-dollar fee upon arrival in country at an airport or seaport. |
Residents or Retirees | no |
National Airline | www.avianca.com |
In advance of the purchase of the property known as Lahardan House, the 200-year-old Georgian manor home we bought years...
Read moreThere are a number of reasons to eat street food when you are on your travels. For a start it’s...
Read moreIn advance of the purchase of the property known as Lahardan House, the 200-year-old Georgian manor...
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© 2008-2023 - Live and Invest Overseas - All Rights Reserved.
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