Countries Where U.S. Citizens Can Buy Property 2023 (2024)

FAQs

What countries can a US citizen own land? ›

Owning Foreign Real Estate as a Corporation or Land Trust

It's common for United States citizens to purchase foreign real estate through a foreign entity such as a corporation, partnership, or trust.

Foreigners can own property in Mexico. It's perfectly legal. Outside the restricted zones—50 kilometers (about 31 miles) from shorelines and 100 kilometers (about 62 miles) from international borders—foreigners can hold direct deed to property with the same rights and responsibilities as Mexican nationals.

Portugal is the easiest European country to buy property in. Those who wish to purchase property in Europe can purchase commercial property under Portugal's Golden Visa scheme.

The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres. The bulk of that land is dedicated to timber in Northern California.

For real estate investors, looking to Canada can diversify one's portfolio of properties and generate an alternative source of rental income. U.S. residents can own property in Canada without becoming a resident of Canada, but must report income or proceeds from a sale to both country's taxing authorities.

Do US Citizens Have to Pay Taxes on Foreign Property? All US citizens must file a yearly tax return regardless of where they live in the world. When filing your return, you must report your worldwide income. This includes any gain or loss from selling a foreign property and rental income.

Yes, you must report foreign properties on your U.S. tax return just like you would report any owned U.S. property. To do that, you first need to know what type of ownership you have because it affects what tax forms you must file.

Foreign investors are not allowed to buy land in China. The land in China belongs to the state and the collectives.

Can Americans own property in Spain? ›

Can Foreigners Buy Property in Spain? In short, yes! The Spanish government welcomes and even encourages foreign buyers in general. Though if you are specifically looking to buy a holiday let, you might need some legal help with the bureaucratic part of it.

There are no restrictions for foreigners who want to buy properties in Italy. However, the Italian authorities have the power of making some verifications of criminal records and other aspects.

Switzerland is the most difficult country to get on the ladder, with first-time buyers on average 48 years old before they can buy their first home, according to money.co.uk.

Spain is one of the easiest European countries to move to as a US citizen. Since you are from an English-speaking country you can easily get a temporary visa via the North American Language and Cultural Assistant program.

John Malone is the largest private landowner in the United States. Malone made his fortune as a media tycoon, building the company Tele-Communications, Inc, or TCI, and acting as its CEO before selling it to AT&T for $50 billion in 1999.

Overall, both Canada and the US are fairly expensive to live in. Canada has much higher housing costs but healthcare costs are much more expensive in the US. While US salaries are slightly higher, Canadians have a much easier time making a higher salary with less education.

There are no residency-based restrictions to buying property in Ireland. You can buy property here if you are an Irish citizen, EU/EEA citizen, non-EEA national or even non-resident in Ireland. However, owning property in Ireland does not mean you have the right to live here.

Can Americans buy property in Costa Rica? ›

Can Foreigners Buy and Own Property in Costa Rica ? The good news is, yes! The great part about Costa Rica is that foreigners and locals have the same ownership rights when it comes to buying property.

Yes. Regardless of where you live, the IRS can file a lien against your assets regardless if the assets are located in the US or in a foreign country. Just as long as you own the assets, they are subject to levy.

Countries With No Property Tax: Monaco

Monaco is yet another tax haven based on its tax policies, and it does not levy taxes on individual income, capital gains, as well as net wealth.

Ways the IRS can find out about rental income include routing tax audits, real estate paperwork and public records, and information from a whistleblower. Investors who don't report rental income may be subject to accuracy-related penalties, civil fraud penalties, and possible criminal charges.

Through FATCA, the IRS receives account numbers, balances, names, addresses, and identification numbers of account holders. Americans with foreign accounts must also submit Form 8938 to the IRS in addition to the largely redundant FBAR form.

In doing so, it put taxpayers on notice that the IRS will actively review and match foreign financial asset and income information against annually filed tax returns and international informational reports, especially related to offshore private banks.

There are two basic types of forfeiture actions that can be initiated by the United States against foreign assets. One would be against assets that are located in a foreign country; the other would be against foreign assets located within this country.

Japan (193 countries) If you're looking for a country with great travel options, then you can't go wrong with Japan. The Japanese passport is ranked as the most powerful in the world, allow visa-free access to 193 countries.

Cambodia is one of the easiest and cheapest countries for immigration. The only thing you need to do to get a residency there is to pay a fee for the required number of months. For 12-months, the sum is $285. Another easy country to move to is Portugal.

Can Americans own land in Russia? ›

Not only foreign citizens are allowed to buy properties in Russia, but foreign companies are also allowed to buy real estate for commercial use.

In 2021, the average sales price for residential real estate in Shenzhen was over 61.6 thousand yuan per square meters. It was the highest price among all major cities in China. The average price across the country was 16,533 yuan per square meter.

With the exception of individuals with hunting permits and some ethnic minorities, civilian firearm ownership is restricted to non-individual entities. Law enforcement, military, paramilitary, and security personnel are allowed to use firearms.

Can You Buy Property in Portugal as a Foreigner? The short answer is YES! One of the most encouraging qualities of Portugal is that there are no restrictions for foreigners who want to buy a home in the country.

Buying property in Portugal allows you to acquire a Portugal residence permit, as long as you stay in the country for a minimum of 14 days each two years. That means you can buy a property in Portugal and get residency. Moreover, you may apply for citizenship and an EU passport five years after obtaining residency.

Can Foreigners Buy Property In Greece? Yes, they can. There are no restrictions as to who can purchase property in Greece, yet EU citizens or residents are considerably more advantageous in the process.

There are no restrictions for foreign investors buying a house in France, even non-residents. All investors need is a French bank account and a valid ID. Besides your deposit, you can also expect to pay notaire's fees.

Living in Italy is significantly less expensive than living in the U.S. The simplest reason is that housing and health insurance costs are much lower. But it doesn't stop there.

The Investor Visa allows you to reside, work, and study in Italy. You and your family can visit Schengen Area countries without a visa and stay there for up to 90 days out of 180 days. There is a special tax regime for new residents in Italy.

Which country has the best property rights? ›

International property rights index

Finland is the top country by property rights index in the world. As of 2022, property rights index in Finland was 8.17 score. The top 5 countries also includes Singapore, Switzerland, New Zealand, and Luxembourg.

Tuscany, Italy

With its charming and traditional countryside homes it is no surprise that Tuscan houses have been voted among the most beautiful in the world.

40% opt for the Western hemisphere — Canada, Central and South America. 26% move to Europe. 14% head to East Asia and the Pacific — think Australia and New Zealand as well as China and Japan. 14% head to the Middle East.

And secondly, they are also states where housing is more affordable and available than in parts of the country that lost residents. The states that attracted the most new residents in 2022 are Florida, Texas, North Carolina and South Carolina, followed by other states in the South and West.

The top three countries for American expats are Mexico, Canada, and the United Kingdom, which are all popular for their proximity to the States and lower cost of living.

Which countries and continents have the most houses? The most populous country in the world is China (population 1.44 billion). As one might expect, China also has the largest number of houses (roughly 658 million).

China, Laos and Vietnam are Communist countries that do not allow personal ownership of property.

Foreign investors are not allowed to buy land in China. The land in China belongs to the state and the collectives.

Can a US citizen buy a house in Italy? ›

There are no restrictions for foreigners who want to buy properties in Italy. However, the Italian authorities have the power of making some verifications of criminal records and other aspects.

The short answer is YES! One of the most encouraging qualities of Portugal is that there are no restrictions for foreigners who want to buy a home in the country. Furthermore, the Portuguese government incentivizes foreigners to invest in real estate property in Portugal through the Golden Visa program.

The Homestead Act of 1862 is no longer in effect, but free land is still available out there in the great wide open (often literally in the great wide open). In fact, the town of Beatrice, Nebraska has even enacted a Homestead Act of 2010.

The Sovereign Military Order of Malta is a fully recognised entity within the United Nations and has a similar status to the Vatican City State and Palestine, having been recognised by over 100 countries. People often call it “the only country in the world with no land”, but here they do have land on a lease.

According to Russian law, foreigners are usually allowed to purchase or rent property in Russia, but certain exceptions apply. Also, in order to be allowed to buy a property, the foreign citizen must hold a valid Russian resident permit.

In Japan, unlike other countries, there are no restrictions for foreigners based on whether or not they have permanent resident status, Japanese nationality, or based on their visa type. This means that foreigners are allowed to own both land and buildings in Japan as real estate properties.

It is perfectly legal for foreigners to buy & own Mexican real estate. Beyond the somewhat tedious process of setting up a bank trust (fideicomiso), buying property in Mexico as an American or Canadian is fairly straightforward.

Can Foreigners Buy Property In Greece? Yes, they can. There are no restrictions as to who can purchase property in Greece, yet EU citizens or residents are considerably more advantageous in the process.

Can Foreigners Buy Property in Spain? In short, yes! The Spanish government welcomes and even encourages foreign buyers in general. Though if you are specifically looking to buy a holiday let, you might need some legal help with the bureaucratic part of it.

If you intend to invest in real estate in Brazil, here are some tips. Any citizen can purchase urban properties in Brazil, including foreigners.

Can US citizens own land in Brazil? ›

Can foreigners buy real estate in Brazil? Yes, foreign citizens can buy real estate in Brazil, and they actually buy a LOT.

Buying property in Portugal allows you to acquire a Portugal residence permit, as long as you stay in the country for a minimum of 14 days each two years. That means you can buy a property in Portugal and get residency.