Tax

There are generally two types of taxes that come into play when owning and eventually selling real estate. There are annual recurring taxes and then there are taxes associated with the sale:

The annual recurring taxes:

Taxes to the countries where the homes are located
Local property taxes for each home in the countries where the homes are located are included in the common expenses of the owner association. We ensure that the owner association pays these taxes.

Taxes to the owner's country of residence
Some countries tax the ownership and use of holiday homes located in other countries, while other countries do not. Many countries tax an owner's use of holiday homes owned through the owner's business or holding company. In many cases, the owner may be entitled to a reduction in taxes in the country of residence under the laws of the country of residence or under a double tax treaty between the country of residence and the countries in which the homes are located.

21-5 does not provide advice on the taxation of owners in their countries of residence and 21-5 assumes no liability in this regard. 21-5 strongly recommends that Owners seek professional advice on taxation in connection with the ownership of their 21-5 share.

Taxes associated with sales:

Capital gains tax in the countries where the homes are located
As with owning your own home anywhere, there will be local sales taxes. We assist with the calculation and payment of these taxes.

Capital gains tax in the owner's country of residence
You probably know if there is a capital gains tax on the sale of property in your country of residence. In many cases, you may be entitled to a reduction in the tax in your country of residence, either under its internal rules or under a double tax treaty between your country of residence and the countries in which the properties are located. 21-5 does not provide advice on the taxation of owners in their countries of residence and 21-5 assumes no liability in this regard. 21-5 strongly recommends that owners seek professional tax advice in connection with the sale of their 21-5 share.