The investment sector of the economy, especially when it comes to real estate, has seen a recent boom in its growth. More and more millionaires emerge each year, and the list of the extremely wealthy continues to grow all across the world. As with anyone looking to grow their wealth, the wealthiest of the wealthy are continuously looking to expand their riches. The investment in real estate, seen through the purchasing of luxurious holiday homes and expansion of business branches, are indicators that investment in real estate is continuing to increase.
The super-wealthy have gone a step further and begun investing in real estate overseas. From the lucrative Middle East to the developing Caribbean, to the popular Orient, more and more investors are looking towards, or have already, investments abroad with regard to real estate.
Any individual would want to spend their vacation in the most relaxing fashion at the most luxurious of locations. Exotic destinations in the Caribbean and the orient, ranging from Barbados to Bali, have become hubs for tourists of the rich and famous variety. Luxury resorts and spas have become highly popular, and more and more investors are either expanding already established hotel chains, or developing new ones, to enter this market.
Alongside resort property development, more attractive factors, such as the purchasing of boats and yachts have also led to an increase in wealthy investors wanting to further fine-tune their holiday experience. Rather than paying regular resort rates and searching for accommodations, these individuals have opted to either purchase entire resorts, or invest as a shareholder in hotel chains that expand into these regions.
Many property registration have also developed as a result of more and more investors entering this market.
There are many legal factors that are at play when one is looking to invest in luxury amenities overseas. For example, some Middle Eastern destinations require oqood registration methods for some properties, and therefore it is necessary to comply with such requirements. It is therefore essential to employ personnel that have expert knowledge on such foreign guidelines and requirements, to ensure that one carries out a sound investment process that is legal in every way, and is in accordance with local laws and regulations.
Legal documentation in the home country also dictates that one declare any foreign assets, to provide an accurate representation of one’s income. It is important to comply with these requirements, as failure to do so can result in accusations of fraud, and even jail time.