Real Estate Investor Magazine South Africa March/April 2020 | Page 54

EUROPE
Are you ready to invest
in offshore property?
Five-step checklist to
get you started
1
Strategy
Determine your objectives and the best strategy
to meet them. Are you looking for a property you’d
eventually like to retire to, a property you’d like to visit
regularly, or is it purely an investment?
It’s important to consider your budget, risk profile, timelines,
family goals, tax strategy, comfort levels and investment
preferences. Once you have set these, they’ll help you form your
own personal checklist when looking for the right investment.
2
Research
Do not underestimate the importance of doing good
research, it’s the most important starting point. Look
at the micro and macroeconomics of the areas you are
considering.
Research the options, the returns, the capital investment
required and most importantly the supply and demand in that
area. Use reputable companies to assist with your research and
make sure that you do your due diligence on any projects and
developers you plan to engage with.
3
Moving funds offshore
Do you already have funds offshore? If so, do they
require any notice to access? If you do not have funds
offshore, you will have to apply for tax clearance. You
should also look at the best ways to move your money at the
best possible rates.
The rand is a volatile currency and, for most people, greatly
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MARCH/APRIL 2020 SA Real Estate Investor Magazine