Christian H. K¨alin International Real Estate Handbook Acquisition, ownership and sale of real estate Residence, tax and inheritance law ‘‘This invaluable reference source for professionals will undoubtedly prove every bit as indispensable to the individual. Anyone seriously considering buying or selling a home abroadwoulddowelltofollowitsadvicetoavoidthemanypitfallsofthepropertymaze.’’ JillKeene,Editor,InternationalHomesmagazine ‘‘TheInternationalRealEstateHandbookisagreatreferencebook,summarisinginaconcise waytherelevantinformationconcerningtheacquisition,saleandtransferofrealestateina number of important countries. It will be a very useful tool for the advisers of wealthy and internationallymobileindividuals.’’ PDDr.HansRainerKu¨nzle,Partner,KPMGprivate,Zurich ‘‘Thisbookprovidesyouwithalltheinformationyouneedconcerninginvestinginproperties abroad: It not only reviews the whole real estate acquisition process, from the search to the financing, but also gives a lot of tips and checklists. A must buy if you are thinking about investinginrealestateabroad.’’ A´ngelSerrano–ManagerInternationalClients–DeutscheBankSAE International Real Estate Handbook Christian H. K¨alin International Real Estate Handbook Acquisition, ownership and sale of real estate Residence, tax and inheritance law Copyright2005 JohnWiley&SonsLtd,TheAtrium,SouthernGate,Chichester, WestSussexPO198SQ,England Telephone(+44)1243779777 Email(forordersandcustomerserviceenquiries):[email protected] VisitourHomePageonwww.wiley.com AllRightsReserved.Nopartofthispublicationmaybereproduced,storedinaretrievalsystemortransmittedinanyform orbyanymeans,electronic,mechanical,photocopying,recording,scanningorotherwise,exceptunderthetermsofthe Copyright,DesignsandPatentsAct1988orunderthetermsofalicenceissuedbytheCopyrightLicensingAgencyLtd,90 TottenhamCourtRoad,LondonW1T4LP,UK,withoutthepermissioninwritingofthePublisher.RequeststothePublisher shouldbeaddressedtothePermissionsDepartment,JohnWiley&SonsLtd,TheAtrium,SouthernGate,Chichester,West SussexPO198SQ,England,[email protected],orfaxedto(+44)1243770620. 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LibraryofCongressCataloging-in-PublicationData Internationalrealestatehandbook:acquisition,ownershipandsaleofrealestateresidence,taxandinheritancelaw/ editedbyChristianK¨alin. p.cm. Includesbibliographicalreferencesandindex. ISBN0-470-09456-7(cloth:alk.paper) 1.Vendorsandpurchasers.I.K¨alin,Christian. K747.I582005 346.04(cid:1)3–dc22 2004017102 BritishLibraryCataloguinginPublicationData AcataloguerecordforthisbookisavailablefromtheBritishLibrary ISBN0-470-09456-7 Typesetin9.5/12ptCenturyOldStylebyLaserwordsPrivateLimited,Chennai,India PrintedandboundinGreatBritainbyTJInternational,Padstow,Cornwall Thisbookisprintedonacid-freepaperresponsiblymanufacturedfromsustainableforestry inwhichatleasttwotreesareplantedforeachoneusedforpaperproduction. Contentsoverview Contents overview Abouttheeditor...........................................................................ix Aboutthisbook............................................................................xi Acknowledgments....................................................................... xiii General/International Chapter....................................................1 Individual Countries.................................................................87 Austria.....................................................................................89 TheBahamas............................................................................ 123 Canada.................................................................................. 151 Croatia .................................................................................. 191 France ................................................................................... 223 Greece................................................................................... 271 Hungary................................................................................. 311 Ireland................................................................................... 353 Italy...................................................................................... 393 Malta.................................................................................... 431 Monaco.................................................................................. 455 Portugal................................................................................. 481 Spain .................................................................................... 519 Switzerland ............................................................................. 571 UnitedKingdom/EnglandandWales .................................................. 619 USA/Florida.............................................................................. 663 Indexes................................................................................ 707 vii