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    Super Cheap

    • Chitré, Panama
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    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
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    • Kyrenia, Cyprus
    • Hua Hin, Thailand
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    Affordable

    • Valencia, Spain
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    • Las Terrenas, The DR
    • Pisa, Italy
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  • Home
  • Countries

    Top Destinations:

    Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.

    • Spain
    • Portugal
    • Panama
    • Belize
    • Colombia
    • Cyprus
    • Mexico
    • France
    • Montenegro
    • Browse All Countries

    Best For:

    • The Best Places To Retire
    • Health Care Abroad
    • Cost Of Living
    • Investing in Real Estate
    • Establishing Residency
    • Gun Laws In The World
    • English-Speaking Countries
    • Safest Places For Retirement
    • Best Places In Latin America
  • Budgets

    How Much Will It Cost You To Live Overseas?

    The only honest answer is, we have no idea. And neither does anyone else. The only one who can answer that question is you. Here’s the most important thing to understand about budgeting your new life overseas…

    Super Cheap

    • Chitré, Panama
    • Santa Marta, Colombia
    • Phuket, Thailand
    • Dumaguete, The Philippines

    Cheap

    • Medellin, Colombia
    • Boquete, Panama
    • Kyrenia, Cyprus
    • Hua Hin, Thailand
    • The Algarve, Portugal

    Affordable

    • Valencia, Spain
    • Cascais, Portugal
    • Las Terrenas, The DR
    • Pisa, Italy
    • La Rochelle, France
    • Mazatlán, Mexico

    Luxury

    • Ambergris Caye, Belize
    • Kotor, Montenegro
    • The Panama City Beaches
    • Paris, France
  • Resources

    Global Living

    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore & Diversification

    Making Money

    • International Real Estate
    • Banking
    • Employment
    • Investing

    Follow Us:

    • Meet Our Experts
  • Real Estate

    Buying Real Estate For Cashflow

    • Discover tips and strategies used by global property investing veterans

    Explore Our Latest Posts

    • Learn how to invest and purchase property abroad…

    Go To The Overseas Property Alert Site

    • How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams
  • Conferences

    Upcoming Events

    • Explore Our Events Site

    Live and Invest In Spain Conference

    Offshore Wealth Summit

    Greece Workshop

    VALENCIA, SPAIN

    Sep. 17-19, 2025

    PANAMA CITY, PANAMA

    Oct. 15-17, 2025

    VIRTUAL

    Nov. 13, 2025

    LEARN MORE
    DISCOUNT
    LEARN MORE
    PRE-REGISTER
    LEARN MORE
    PRE-REGISTER
    • MORE EVENTS

    Contact Our Events Team

    Toll-Free U.S. and Canada:
    1 (888) 627 8834
    From Outside North America:
    1 (443) 599 1221
    Working Hours
    Monday – Friday 08:00 am – 17:00 pm EST.

    Reach us with your questions by email at: events@liveandinvestoverseas.com

  • Store

    Unlock The World

    • Access Your Library

    Overseas Havens Reports

    • Expats' comprehensive destination guides

    Conference Kits

    • Hours of coverage  from our latests conferences

    Lahardan Books

    • Titles on living and investing around the world
    • Explore Our Store
    Your passport to a life well-lived abroad

    Services

    overseas living letter offers affordable retirement guidance
    The Simon Letter Wealth Protection Insights
    Global Property Advisor Global Investment Opportunities

    Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com

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Live and Invest Overseas
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Home How to

Keep Your Money From The IRS With Overseas Real Estate

This Asset Class Isn't Crashing

by Kathleen Peddicord
May 15, 2022
in How to, Real Estate
0 0
Beautiful panorama over the cityscape of Camara de Lobos in Madeira island, Portugal

Adobe Stock/cristianbalate

8938.

That is the number of the IRS form you have to fill out to report foreign financial assets.

If you own foreign assets, you have to fill out IRS Form 8938 even if you’re currently living in the United States… and even if you’ve been living out of the country for most of your life.

However, here’s an important point: You do not have to report foreign real estate on 8938.

Here’s the relevant reference from the IRS’s website:

“Foreign real estate is not a specified foreign financial asset required to be reported on Form 8938. For example, a personal residence or a rental property does not have to be reported.”

The IRS wants every dollar and dime it can claw together, right? So why would they leave foreign real estate alone?

It’s a practical matter.

Even if they wanted to, how is the IRS (or anyone else, for that matter) going to seize or force the sale of your second home in Belize… your condo in the Dominican Republic… your penthouse in Colombia… your beach house in Brazil… your farmhouse in Portugal… or…

You see my point.

Lawyers, former spouses, friends, ex-employees, and business partners with axes to grind are stone-walled, too. None of them can touch your Panama villa with the avocado and mango trees growing in the backyard… no matter how many attorneys they hire.

For me, this makes a rental in Paris… or Medellín… or Lisbon… a piece of property anywhere in the world… the safest, smartest investment I can imagine. It’s like having a Swiss bank account that you can stay in on vacation… and that you could even eventually retire to…

The ultimate strategy for both storing wealth and keeping it private.

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Now, this strategy born of a significant loophole is not a free-for-all. There are some rules…

You have to report any income you make from the property…

And, if you decide to hold the property in a trust or an LLC, then your interest in either of those has to be reported.

Hold the asset in your own name, though, and you don’t have to report it… not even if you own an entire village in a sunny, balmy Caribbean paradise.

If you’re a long-suffering reader, you understand how committed I am to global real estate as an asset class.

It’s the ultimate investment both for return—in the form of cash flow and value appreciation—as well as privacy and protection… superior to investing in stocks and mutual funds in nearly every way.

With my husband Lief, I have a growing portfolio of real estate in a variety of locations around the world.

Thanks to this strategy, which we have pursued together for two-and-a-half decades, we aren’t worried about our retirement…

We aren’t worried about our kids’ futures…

We aren’t worried about U.S. markets, crypto markets, war, inflation, or any other global crisis playing out in real time right now.

We’ve been able to travel the world for fun and for profit. And, as a result of this strategy, we’ve evolved a lifestyle that is both comfortable and filled with adventure and that will convert, whenever we’re ready to pull the trigger, into our retirement plan…

A retirement that will have us dividing our time among some of the world’s best places to spend time… in properties that we own and that, right now, are generating cash flow to the tune, in some cases, of 16% per year and more.

This is the best time in history to take advantage of what I call my New Swiss Bank Account strategy… and this is the best time in our lifetimes to begin investing in real estate overseas… or to expand your portfolio if you’ve already begun.

Preserving your wealth in offshore real estate is a heck of a lot more fun than putting it in a stuffy bank vault.

You get to do real stuff with your money… cool stuff… rather than just locking it away with a banker.

Now, I realize that everyone’s plan is different. You may not want to own dozens of properties all around the world. You might simply want a second home in paradise… whatever that means to you.

I prefer the Pacific over the Caribbean…

For you, life in the Caribbean might be a dream come true.

I like the city.

You might want to be up in the mountains.

That’s what’s great about this New Swiss Bank Account strategy… you can build whatever kind of investment portfolio and accompanying lifestyle that you want.

You could follow Lief and my lead and go big…

Or you could just find your place in the sun… safe, separate, and secure from the government and anybody else out to get your money.

Sincerely,
Kathleen Peddicord signature
Kathleen Peddicord
Founding Publisher, Overseas Opportunity Letter

Tags: Invest in real estateLive abroadlive overseasOverseas Real Estatereal estate abroadReal Estate Investing
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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has reported on opportunities for Americans to live, retire, and do business overseas for 40 years. She has traveled to more than 75 countries, invested in real estate in 24, established businesses in 7, renovated and built properties in 6, and educated her children in 5.

Kathleen has moved children, staff, enterprises, household goods, and pets from the east coast of the United States to Waterford, Ireland, then to Paris, France, and finally to Panama City, Panama, where she has based her Live And Invest Overseas business. Peddicord and her husband, Lief Simon, now divide their time between Panama and Paris.

Peddicord was a partner with Agora Publishing’s International Living group for 23 years. She opened, staffed, and operated International Living publishing and real estate marketing offices in Waterford, Ireland; Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France. Peddicord launched Live And Invest Overseas group in 2008 and has built it into a successful multimillion-dollar business. Today, she shares her firsthand experience of expat life with more than 500,000 readers of her publications, including Overseas Opportunity Letter and Overseas Living Letter.

Kathleen has been featured often in The New York Times, MSNBC, AARP, CNN, Bloomberg, CNBC, and more and writes monthly about expat matters, international real estate, and offshore diversification for Forbes and U.S. News.

Kathleen has written several books including the memoirs “At Home In Ireland” and “At Home At Los Islotes” and her latest title “At Home Abroad,” all published by Lahardan Books. Her best-selling "How To Retire Overseas: Everything You Need To Know To Live Well (For Less) Abroad” was published by Penguin Random House in 2018 and her “Buying Real Estate Overseas For Cash Flow (And A Better Life)” was published by Wiley in August 2020.

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Top Countries

  • Spain
  • Portugal
  • Panama
  • Belize
  • Colombia
  • Cyprus
  • Mexico
  • France
  • Montenegro

Best For:

  • Health Care Abroad
  • Retirement Living
  • Cost Of Living
  • Investing in Real Estate
  • Establishing Residency
  • Gun Ownership
  • English Speakers
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BROWSE ALL COUNTRIES

Budgets

How Much Will It Cost
To Live Overseas?

Super Cheap

  • Chitré, Panama
  • Santa Marta, Colombia
  • Phuket, Thailand
  • Dumaguete, The Philippines

Cheap

  • Medellin, Colombia
  • Boquete, Panama
  • Kyrenia, Cyprus
  • Hua Hin, Thailand
  • The Algarve, Portugal

Affordable

  • Valencia, Spain
  • Cascais, Portugal
  • Las Terrenas, The DR
  • Pisa, Italy
  • La Rochelle, France
  • Mazatlán, Mexico

Luxury

  • Ambergris Caye, Belize
  • Kotor, Montenegro
  • The Panama City Beaches
  • Paris, France

Resources

Global Living

  • Living & Retiring Overseas
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Real Estate

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Reach us with your questions by email at: events@liveandinvestoverseas.com

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Lahardan Books

  • Titles on living and investing around the world

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