Besides holidaying abroad, more and more people want to buy a second home in another country. Countries in southern and also eastern Europe are popular locations. A second home allows you to combine business with pleasure: vacation and investment. However, there are important matters that you need to consider. Deloitte’s professionals at Private Client Services can advise you and guide you through the right procedure.

From Language Barrier to Financing
If you purchase a second home in another country, you will have to contend with fiscal and legal formalities, such as:

• designing the right purchase structure;
• filing local tax returns
• arranging a loan

Fiscal, Financial and Legal Aspects
Financial questions may include how best to finance the home. Even if you have sufficient money of your own, it may be attractive to take out a loan to pay for the property. Among the legal questions that will arise are the contents of the purchase agreement and the need to update separate estate clauses and wills. Fiscal matters requiring consideration are the consequences - in the Netherlands and in the other country - of purchasing the property, its ownership, rental and future sale. For certain countries the advice may include making the purchase through a local company.

The Deloitte Approach
Throughout the process of purchasing a second home abroad, you can rely on the expertise of the specialists at Deloitte Private Client Services. They will assist you in resolving fiscal, financial and legal questions.

More information
To learn more about the added value of Deloitte Private Client Services, please contact Ruben Freudenthal, Tax partner, on +31 (0)71 535 23 52, or send an e-mail to rfreudenthal@deloitte.nl.