Can I buy Property in Ireland if I live outside the country?
The short answer is yes. Whether you are an Irish person living abroad or whether you are foreign national living in Ireland you are legally entitled to buy a property in Ireland.
If you want to buy a property in Ireland as a non-resident, you will need a PPSN (Social Security Number). This is required in order to pay the tax on the property known as Stamp Duty.
The Stamp Duty rate is the same for non-resident purchases as resident purchasers. The rate is 1% of the purchase price for a residential property (up to the value of €1,00,000.00) and 7.5% for commercial property. If you are a non-resident, but were born in Ireland you will already have a PPSN.
If you were not born in Ireland you will need to apply to ‘Client Identity Services’ Carrick-on-Shannon County Leitrim in order to obtain a PPSN. This application can be made online. You will need to complete a form “REG1” and will have to provide copy ID, proof of address.
Getting a Mortgage?
If you require a mortgage to buy the property in Ireland you can apply for the mortgage through a financial adviser/broker.
It is possible to complete the purchase of the property while you reside abroad. You can provide us with a power of attorney to sign the contracts on your behalf. Alternatively, once we have completed the due diligence on the contracts for sale together with the legal title to the property, we can email you the contracts.
You can print the contract in duplicate and sign same before a witness (any person over the age of 18 can witness your signature) and return the signed contracts to us. The same applies to the mortgage documents if you are using a mortgage. Electronic signatures will not be accepted by the bank.
It is important to note that simply because you own a property in Ireland does not grant you residency in Ireland.
AML Requirements etc.
If you are a non-resident purchaser you will have additional Anti Money Laundering requirements. It will be necessary for you to provide the following documents:
- Certified Copy Passport. This should be certified by a notary public or a Solicitor in the County in which you reside.
- Certified Copy Utility Bill. This should be certified by a notary public or a Solicitor in the County in which you reside.
- If you are a cash buyer ie you do not require a mortgage to purchase the property then you will need to show evidence of funds. This can be shown by furnishing a certified copy of your bank statement showing the accumulation of funds. You could also have you accountant confirm the source of funds.
MBSolicitors have represented clients residing worldwide to include the UK, Australia, Japan and America buying property in Ireland. If you are a non-resident are buying a property in Ireland contact MBSolicitors for a free quote.
If you are Buying or Selling a property but are not currently domiciled in Ireland, contact MBSolicitors on +353-1-5677343 for a no obligation fixed fee conveyancing quotation or use the enquiry form below.