Investment: Buying your property – the process and potential pitfalls

This article explains the usual buying process for a jet-to-let property and what to look out for when you are navigating your way through the plethora of salespeople, advisors and paperwork. However, this process is not the same in all of the locations that we feature. There are always differences in the detail, but the approach, procedures and potential pitfalls are similar.

The article takes you through the following:
• Selecting your jet-to-let investment property
• Selecting advisors
• Financing your investment
• Buying the property
• Taxation

Selecting your jet-to-let investment property

A bottom up approach is where an investor buys simply because of price and his perception of value. It is advisable to avoid this approach and to look for properties that have true investment potential.

‘There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.’ John Ruskin

Who should you buy a property from?

There are a number of sources:

1. UK estate agents
2. Local agents based in your chosen market or country
3. Direct from the developer
4. Large property agents
5. Direct from the vendor (seller)
6. Auctions
7. Property finders

There are pros and cons to each of the above methods.

1. UK estate agents

You only have to walk down your local high street to see the growing number of UK estate agents selling overseas property. These companies have rightly spotted an opportunity, as the growth in jet-to-let has made it profitable to have a UK high-street presence.

These companies work with larger organisations which pay them a commission for sales. UK estate agents tend to get a bad press, some deserved, some not, but generally most know what they are doing – at least in their own country. It is not certain whether a high-street agency is the best place for an international property investor to look, but it will not hurt to visit a few during your research phase.

2. Local estate agents

The first thing you have to remember about all estate agents is that they make their money by selling property! They are not friendly, charming, witty companions who have your best interests at heart. On the whole, they represent the interests of the vendor or developer and they are interested mainly in their commission.

Remembering this and their motives will enable you to better assess the validity of their advice. Having said this, the comprehensive knowledge of many of these agents is their main strength. Tap in to this local knowledge and have your list of questions written down in preparation for your meeting. Get them to show you around and learn as much as you can.

Warning: Although many jet-to-let countries are perfectly safe, it’s prudent not to go out alone in a car with someone you have just met. Take your partner and ensure that the estate agent is ‘bona fide’ and that he is who he says he is. Ensure that someone else knows where you are going and whom you are going with.
Also, check to see if the agency is a member of any local group or professional body, such as a national association of estate agents.

3. Direct from the developer

If you have conducted your research and know exactly where you want to invest, then why not buy direct from the developer. Whether you go through an agent or not, if you are purchasing an off-plan property, you will eventually find yourself with the developer picking fixtures, fittings and tiles and possibly arranging mortgages.

Before doing so, make sure that the developer can provide the services that you expect. A complete turnkey package is the desire of many property investors, but some developers are high on promises and low on delivery and they don’t have the customer services support that many busy property investors require.

4. Large property agents

Property agents differ from estate agents in that they are generally organisations which promote properties from multiple countries on behalf of developers. Some of these companies have huge marketing budgets and appear to be very good at what they do, which is selling property. They are effectively a channel between you and a number of overseas developers who rely on these agents to sell for them. They are a good starting point if you have not yet decided on your chosen country as they should have staff who are familiar with a number of different overseas investment markets and they will be able to offer advice which may assist you with narrowing down the options.

In most cases, you will not get a better price for the property by dealing direct, and reputable agents will provide many professional support services that make investing overseas easier to manage. The companies to look for are those with a reputation for customer service and added value, which provide a complete turnkey solution.

5. Direct from the vendor

Often you can pick up some very good resale property through classified advertisements or on the internet. Standard due diligence research and investigations apply, but you have the opportunity of dealing direct with the person who is selling the property. The first point to note is that by not dealing through an estate agent, the vendor is saving a significant amount of money in fees which clearly vary from country to country. You would expect this to be reflected in the asking price; if it’s not, then it’s a good starting point for the negotiations.

Secondly, by dealing with the vendor, you will be able to assess the reasons for sale, how quickly he wants to move, how long the property has been on the market and all the other questions you need to ask in order to assess the level at which to pitch your opening offer.

6. Auctions

In some countries you can buy property through auctions. This is a specialist subject and further information can be found in Lawpack’s Buying Bargains at Property Auctions by Howard Goodie. Although Howard’s book is aimed specifically at the UK market and UK auctions, he has very successfully conveyed the process, due diligence and the do’s and don’ts of property auctions, which are similar the world over.

7. Property finders

Some property finders provide a good service, particularly for very busy people who don’t have the time to jump on a plane for a few weekends to source property.

However, all property finders are not equal. There are some opportunists in the market who know very little about property, investing, overseas markets and the process of jet-to-let. They have spotted a money-making opportunity, have attended property investment courses and specific seminars and copied the materials and then presented them as their own. These cowboys are to be avoided at all costs, so always do your research.

There are, however, some very reputable companies which source property all over the world for clients. They have offices, staff and reputations to maintain. After you have read this article and followed its principles, you will be able to find these companies for yourself.

Selecting advisors

You want advisors who have your best interests at heart. Although they are paid, they should be wise and worldly enough to realise that your success is their success and your failure is theirs. You should consider the following when selecting advisors:

• Legal advisor. Whether you are buying a single property, multiple properties or developing from scratch, your closest ally should be your lawyer. The research you conduct in order to find a top quality, independent English-speaking lawyer is worth every hour and the fees you pay for quality will be justly rewarded later.

• Financial advisor. A good financial advisor is worth his weight in gold. He can suggest a variety of ways in which to finance your investment, have the contacts to offer sometimes unorthodox solutions for funding and will take a holistic view of all your financial affairs, which allows him to put your jet-to-let aspirations into context. You would be best served following a recommendation from someone whose judgement you trust and who has had protracted dealings with the advisor over a number of years.

• Accountant. HM Revenue & Customs tax you on your worldwide assets and income, so you will need an experienced UK qualified accountant to help with your tax return. If you have an overseas company or you are investing in multiple properties, then an English-speaking accountant in your chosen country is also required. The two of them need to consult with each other to make sure your affairs run smoothly and keep both tax authorities content.

• Specialist tax consultant. If you are investing substantial amounts of cash overseas in jet-to-let property, potentially in many different markets, then you will require the expertise of an international tax specialist to ensure that you are doing it in the most tax-efficient manner. Should you buy properties in your own name, joint names, in your children’s names, through a trust, through a UK limited company, an offshore company or a local company? What are the benefits of changing your domicile? What are the benefits of spending most of the year overseas? The answers to these important questions will vary considerably depending on your personal circumstances, so bespoke advice is imperative. Your accountant should be able to recommend a specialist tax consultant, the property investment company you may be investing with may have one, or any of the big accountancy firms will be able to assist.

• Currency broker. It’s inefficient to transfer large sums of money via high-street retail banks as you can receive a very poor rate of exchange. The use of specialist currency brokers will often result in a much more favourable rate, which can amount to the cost of a family holiday when transferring large sums.

• Architect/surveyor/valuer. If you are considering renovating old property or developing, then you will need a good team of property professionals starting with an architect and a surveyor.

• Insurance broker. One of the methods of limiting risk is to insure against possible events, such as fire, theft, earthquakes and being sued by your tenants or holidaymakers. A good insurance broker can supply policies which cover most eventualities. Please don’t ignore insurance; you will regret it if the occasion arises where you need it.

Financing your investment

The amount of finance you require will vary considerably depending on the investment strategy that you have adopted. The options of developing land and buying an off-plan apartment in Budapest require two very different levels of funding. This particular section focuses more on the financing of individual or multiple units rather than developing.

This section is not a substitute for sound professional advice from someone who is authorised to give that advice, such as a financial advisor or mortgage broker. As we all have different goals, varying degrees of financial commitment and tolerance to risk, you should consult with a professional advisor to work out a specific, personalised financial plan for your overseas property investments.

Investors can finance their property investments using:

1. Cash
2. UK equity release
3. Overseas mortgage, in a choice of currencies
4. Syndicates

1. Cash

Cash-rich investors use their funds to invest in property. They don’t wish to mortgage their properties and are not concerned about the lack of gearing or leverage. Be aware that in some countries, such as Turkey and Romania, you cannot get a mortgage, so cash is the only option.

2. UK equity release

One of the drivers of the jet-to-let boom has been the buoyant UK property market. Home owners and buy-to-let landlords are using the equity in their UK properties to finance an overseas property investment strategy. The process is fairly straightforward and involves taking either a further advance on an existing mortgage or a complete remortgage with possibly another provider and better terms. The advantages of this course of action are as follows:

• Set-up costs in the UK are relatively inexpensive if you remain with the same lender.

• You have been through the process before so it should be easy to understand, plus the documents are in English. Also, you don’t need to leave the country to set up the mortgage.

• If your loan is in sterling and the repayments of that loan are from a sterling account, then you will not be exposed to currency risk.

• UK interest rates are presently lower than some jet-to-let destinations.

• You can borrow interest only, which is a significant advantage as many foreign mortgages are interest and capital repayment, thus reducing your ability to maximise cash flow.

• You can get a better loan to value (LTV) mortgage in the UK, particularly if you are using your home (which is also known as your ‘principal private residence’ (PPR) for taxation purposes) as security. If you can borrow up to 95 per cent of the valuation of your home at say five per cent interest, your monthly cash flow and costs of borrowing may be substantially less than the alternative product in your jet-to-let country.

3. Overseas mortgage

The liberalisation of local mortgage markets is one of the drivers of property prices, as we have experienced in the UK, Ireland and Spain over the last five to ten years. The liberalisation of the Danish mortgage market in 2005 was responsible for a boom in property which saw prices rise by up to 50 per cent in parts of Copenhagen and over 20 per cent nationally. The introduction of UK-style interest only mortgages has provided a significant boost to an already strong market.

As money becomes easier to obtain and payments are reduced through lower interest rates, new liquidity in the market increases the demand for property and prices rise. This effect is even more marked where supply lags significantly behind the change in demand as was also evident in Denmark.

Overseas mortgages tend to be based on the same principles that we have in the UK. They are loans secured on the price of a property. Some points to note are as follows:

• They are generally repayment mortgages.
• LTV rates can be low.
• The timeframe of the mortgage can be as little as ten years.
• Check if there are any redemption penalties for early repayment – they may be high or may not exist.
• Check on the arrangement costs/fees and whether any taxes have to be paid to the government.
• You may need to travel to the country to apply and receive the loan in person.
• You are exposed to currency risk through fluctuations in the exchange rate.
• Your suitability will generally be assessed on your income and ability to repay the loan, not on assets and potential rent.

‘A bank is a place that will lend you money if you can prove that you don’t need it.’ Bob Hope

4. Syndicates

A quick search on the internet came up with a lot of different, contrasting views of what constituted a syndicate:

• A loose affiliation of gangsters in charge of organised criminal activities.
• A group of individuals who have formed a joint venture to undertake a project they would have been unable to complete individually.
• A combination of people or firms formed to accomplish a business venture of mutual interest by pooling resources.
• A news agency that sells features or articles or photographs, etc. to newspapers for simultaneous publication.
• A group of individuals who come together to purchase a property.

It is advisable to stay away from the first of these unless you want to trade 30 years of bliss on some sun-drenched Mediterranean island for time at Wormwood Scrubs.

A syndicate is about pooling resources. There are companies which offer syndicated funds where an investor buys into various property investment opportunities. Many jet-to-let investors may be attracted to this option in the future as the rules concerning self-invested personal pension schemes (SIPPS) are made more widely available through the media and financial services providers, and the benefits of investing through tax-efficient funds are understood.

However, in its simplest form, a syndicate is a group of friends, family members, business colleagues or other investors who invest collectively in property. In some cases, the arrangement is formalised with a syndicate agreement, which is in effect a contract.

It’s wise to have a syndicate agreement drawn up by a lawyer as it will prevent any misunderstandings or disputes later. The terms and conditions are important and should specify a timeframe and exit strategy for the investment and under what circumstances members can leave and new members join. You should collectively instruct a lawyer to draft the agreement. This may sound a bit formal for many considering investing with friends, but if you want to keep your friends, then this is a good course of action.

The advantages of a private syndicate are clear:

• Risk diversification, as the risks are shared across the syndicate.
• Accessible investing – you can invest with a smaller capital sum.
• A mixture of investor profiles, knowledge and experience should prove a positive combination (the sum being greater than the parts).
• Spreading the workload of managing overseas property investments.
• It can be fun.
There are also disadvantages:
• You dilute your returns between other members of the syndicate.
• You may disagree with other members on the direction and strategy of the syndicate.

Only you will know whether this type of investment method will work for you, but if you are short on start-up capital, this is a good way to get started.

Currency risk

One of the major differences between jet-to-let and property investing in the UK is currency risk. You must ask yourself the following:

• Do I take a mortgage in sterling for my house priced in euros?

• Do I make staged payments from sterling to euros, for instance, at the exchange rate on the day?

• What if sterling strengthens/weakens against the US dollar/euro or the currency with which I am working?

Without doubt, not having a currency strategy in some of these markets could result in financial loss, while planning will definitely produce strong currency profits as we will see below.

Fortunately, you have professionals in your team of advisors who will be able to work with you to determine the most appropriate currency strategy to fit your property investing timetable.

It’s imperative to consider the effect that changes in exchange rates have on your jet-to-let strategy. Some currencies are less stable than others and their movements can be dramatic.

Speak to a currency broker about how to manage risk when investing in overseas property.

What might a currency broker recommend?

You will be offered a number of options depending on what you want to achieve with your currency strategy:

• Spot contracts. The broker simply buys the currency in the market today for delivery in a couple of days. He buys it on the spot. It’s the real time currency price at the time.

• Fixed-term forward contract. You agree an exchange rate today for delivery at some stage in the future. This can be generally fixed for up to two years in advance for a small deposit, generally five per cent of the sum you will be exchanging. The advantage is that if the rate is particularly strong, you can agree to fix the rate for up to two years. The rate is guaranteed regardless of what is happening in the market.

• Forward time option contract. This is similar to a fixed-term forward contract, but it has more flexibility. The exchange rate is fixed but the currency can be transferred at any point within a fixed period and not at a fixed time. A deposit is required to secure the rate and final payment is made when the full foreign currency transfer is required.

A forward time option contract is useful if an exact date for the transfer of foreign currency is unknown, but you want a fixed exchange rate because it’s favourable. The best example is if you are investing in a property overseas and the completion date is unknown.

• Limit orders. If you are moving substantial amounts of cash, you may wish to get a better rate than is currently available in the market. This option assumes that you have time before the funds have to be transferred, allowing the broker to wait for the better rate.

• Stops. You agree in advance the minimum acceptable rate you want. If the market falls, a buy or sell order is automatically actioned providing a safety net in volatile markets.

The aim of this section was to make you aware that currency movements can have a major impact on your jet-to-let strategy. Currency doesn’t only affect the sterling price of any property you buy and sell, but also whether any debt secured on that property will rise or fall in value in line with exchange rates.

So, the questions you need to ask yourself are:

• What is my currency strategy?
• In what currency should I hold my mortgage debt?

Before we leave the subject of currency risk, let’s mention devaluation. Devaluation refers to a sharp reduction in the value of a currency and can be used as a tool of government economic policy. This is important to remember when dealing with emerging markets as some may be affected. For example, in recent years devaluations have occurred in Argentina, Thailand, Mexico, Czech Republic and other countries.

There are often complex political, macro-economic and indeed speculative reasons why currencies fall sharply.

Choose your professional advisors carefully. Don’t go with one rather than another because he is cheaper. If you have to pay a little more for the best, then get the best.

Buying the property

It is useful to summarise, in the form of a checklist, the process you go through to purchase your investment property.

• Define yourself and your goals.

• Research, research, research.

• Discuss your options with property companies.

• Visit your country of choice and development sites.

• Establish your team of professional advisors.

• Decide which property (or properties) you wish to purchase.

• Consult professional advisors regarding the legalities, finance and the building. In particular, establish at this stage who should own the property you are buying. Should it be as an individual, partnership, in children’s names, limited company, trust, etc.? This is an important question to ask your professional advisors and is the specialist area of an international tax advisor.

• Seek an independent valuation on the property (you will usually need to pay for this).

• Negotiate on the price of extras. (If there is a lot of demand and limited supply, don’t be too hopeful.)

• Agree the price (after the independent valuation).

• Take legal advice about the terms of any reservation contract you are to sign. Does this mean that you are committed to buying the property? How long does the reservation period last? Don’t sign a document in a foreign language. You will have to pay a small fee on signing the reservation contract.

• Your lawyer will check the legality of the transaction to ascertain if there are any outstanding debts on the land/property, whether the vendor has the legal right to sell, any town planning authority regulations which may affect you and all other appropriate issues relevant in your chosen country.

• Arrange your mortgage (where applicable) in principle.

• Full contracts will be issued and should be scrutinised by yourself and your lawyer. Make changes which you and your lawyer think are appropriate in order to safeguard your interests. This is why you should instruct an independent lawyer and not the vendor’s ‘in-house’ lawyer.

• Open an account with a currency broker.

• Sign the contract and pay the deposit via your currency broker. In some countries the contract has to be signed in front of a notary in person or by someone appointed by you, using a Power of Attorney.

• Pay any taxes and purchasing fees which are due.

• Make staged payments (where applicable) according to the terms of the contract or draw your mortgage and the bank will then supervise the release of the staged payments to the developer.

• Choose fixtures, fittings, tiles, kitchen, etc.

• Review the progress of construction (where applicable).

• Prepare your lettings marketing strategy and/or instruct agents.

• Complete and pay the remainder of the price either by mortgage or by cash.

• Arrange insurance for buildings, contents and also for public liability if you are letting.

• Check for ‘snaggings’ and have them resolved by the developer. As with any new-build property, there will always be minor issues of finish which need to be addressed, such as light switches, appliances, doors and any other features which have not been completed to your satisfaction. In some cases, a lawyer may stipulate in a contract that up to five per cent of the completion monies may be held back until the snaggings have been addressed.

Legal considerations

No person is so worldly as to be an expert in everything, so seek professional advice where needed. Certainly, when considering such weighty matters as tax and law, it’s good to get it right.
The legal systems of many of the jet-to-let countries are so different, it’s imperative that specific local advice is obtained from a lawyer who is an expert in the laws of the relevant country.

The lawyer

Your lawyer has a number of critical tasks to perform on your behalf. He is in charge of due diligence and therefore must be good at what he does. Don’t try to save pennies on the quality of legal advice you get. In short, your lawyer should:

• Check out the development company.
• Conduct searches on the land, adjacent land, planning, the building, and any debts encumbered on the land/property.
• Analyse and make recommendations concerning the contract.
• Advise you on your legal rights and safeguards.
• Advise on appropriate accounts in which to make your deposits.
• Advise on setting up local bank accounts.
• Advise where appropriate on forming a limited company.

How to find a good lawyer

A firm recommendation from someone you trust is the best course of action, but this isn’t always possible. The Law Society of England and Wales has a searchable database on their website at www.lawsociety.org.uk, which you may find useful.

Embassies and consulates

Some British embassies and consulates can provide you by fax or by email with a list of English-speaking lawyers in their areas of responsibility.

Don’t choose your lawyer from the telephone directory! Just because they can afford to advertise, it doesn’t mean that they are worth using!

The contract

Most of the horror stories involve the contract signed by the client. These tales are not confined to any one country, any one developer or any one lawyer. This issue is common in all countries.

Just to clarify, a contract or sales purchase agreement is a document which sets out the terms and conditions of the sale and the responsibilities of both the vendor and the purchaser, all of which are legally binding on both parties.

When you are reviewing the contract or sale purchase agreement, consider the following:

• Get an independent lawyer to advise you.

• Check that the price for the property is what you agreed (discrepancies do happen).

• Check the payment terms – do they match what you have agreed?

• Check that the specifications you expect, such as doors, windows, tiles and the level of quality, are in the contract.

• Ensure that it contains any verbal agreements you had with the sales consultant, particularly if he has given you any extras as part of the negotiation, such as white goods or granite work surfaces.

• Check whether parking is included or excluded.

• If you intend to sell before completion or wish to keep your options open, then the contract has to be assignable. In other words, you must be able to reassign (effectively sell) the property at any stage to another buyer and release your cash so that you can exit the investment. Is there a fee to pay for reassignment and if so, how much will it cost? If the fee is significantly above what you would consider reasonable, why is it so?

• Check the completion date for off-plan property. What penalties are there for late delivery? Your lawyer will be able to advise you on what penalties are appropriate in the country in which you are investing.

• Does it specify in the contract that you cannot let the property? Are there restrictions on the use of the property?

• Are there any guarantees in the contract concerning the quality and standard of the work? For how long after completion will the developer make good any defects free of charge?

• If there are taxes to be paid ensure that the responsibilities are clearly written in the contract.

It cannot be emphasised enough how important it is to use a lawyer independent from the developer. It is amazing how sensible people leave their brains behind at the airport terminal when flying overseas to purchase a property. Please keep yours in your head and treat the overseas property purchase with more due diligence than you would when investing in the UK.

Power of Attorney

Power of Attorney authorises an individual to act on behalf of someone else. It is a useful process to give Power of Attorney to a lawyer, who represents the buyer and who acts on his behalf on matters stipulated in a written document. By giving Power of Attorney to someone else, you are in effect giving him the power to sign documents as if he were you. This is the essence of the power. It has to be written and very specific, but you will find it convenient and a useful time saver and for most busy jet-to-let investors it’s a must.

Notaries

In many European countries a notary is a civil servant who checks the title deeds and records sales agreements. The notary’s role is not to advise either party, but to authenticate. A simple definition for a notary would be ‘a person authorised to certify a document’.

To conclude this section, there are not many things that can go wrong when buying property overseas when the buyer has conducted thorough research and due diligence. The one area where it can go badly wrong is the legal process, particularly with regard to the content and wording of the contract. Some people switch off at the contract stage because they wrongly think that the hard work is behind them – it’s not. This is the stage to move up a gear and to ensure, with the help of your lawyer, that your interests are well cared for.

Taxation

‘But in this world nothing can be said to be certain, except death and taxes.’ Benjamin Franklin

The question of taxation can be complex and is best covered by experts in the field. Tax is specific to an individual set of circumstances and it changes over time and with new legislation. What is certain is that we all want to minimise, within the law, the amount of tax we pay.

You need your ‘home’ and ‘away’ team – a group of advisors in the UK as well as in the countries in which you wish to specialise. Your international tax specialist becomes the referee between the advice you receive from your accountant in the UK and that which you receive overseas. He will then co-ordinate and produce particular tax advice according to your circumstances.

Advice such as this is not cheap and can cost the price of a very good family holiday and more if the situation is complicated. In fairness, the fees of tax specialists and accountants are normally saved, with some left over, by the results of their advice.

Myth buster 1: HM Revenue & Customs tax you on your worldwide income and assets. The fact that a particular overseas country may have zero taxes doesn’t mean that you don’t have a tax liability in the UK. This is a myth that novice jet-to-let investors sometimes fail to realise believing that, by having their investments offshore, they will be outside the reach of UK taxation – this is not so. However, you can legitimately minimise the amount of tax you pay.

Myth buster 2: Holiday lettings overseas don’t have the same tax treatment as holiday lettings in the UK. Additionally, the favourable treatment of UK holiday rental properties in terms of business asset taper relief is not applicable on overseas properties.

Checklist – questions to ask your accountant and tax advisor

• What should be the ownership structure of my investment property?

• Who should receive the income from the property I am buying?

• What are the advantages and disadvantages of forming a UK or foreign limited company in which to hold the property?

• Why are ‘residence’ and ‘domicile’ important considerations for tax purposes and what is right for me, given my personal circumstances?

• How can I plan for a Capital Gains Tax liability?

• What planning should I consider for Inheritance Tax?

• What use are trusts?

A good advisor will cover all of these points as a matter of course when you have your first meeting. He will gather all of the facts of your case and work out a specific plan relevant to your circumstances.

Key points summary

• Invest with well-known and reputable companies and avoid the one/
two-man-bands that flood your email account with so-called ‘deals’.

• Select your team of advisors carefully, based on recommendations. If you cannot get recommendations, try other sources such as British embassies abroad.

• Think about the best method to finance your jet-to-let investment and get good advice. Think through what currency you should have for your mortgage.

• Consult with your currency broker to determine the best strategy for your overseas investment plan.

• Use the buying process checklist as an aide-memoire which will help you map out the sequence of events and ensure that you are thinking three steps ahead.

• Ensure that the contract is fair and contains any verbal agreements you may have made and that it’s scrutinised by your independent lawyer.

• Arrange your tax affairs before you purchase. Discuss, in particular, who should own the property (or properties) and who should receive the income.

• Finally, don’t be daunted by what you have read here or in other parts of the book. The potential pitfalls and tricks have been deliberately highlighted to ensure that you don’t have to learn from your mistakes, but can have the benefit of learning from others. If you follow this advice, particularly with regard to forming a team of advisors, then the buying process will be straightforward as your team work on your behalf.

Jet-to-let and all overseas investment, for whatever purpose, is fun, profitable and will provide you with the financial security you are looking for – but, as with all adventures, careful planning and good advice will make the journey smoother.

© Lawpack Publishing 2006

“The Jet–to–Let Bible”, Dominic Farrell
Reproduced with the permission of Lawpack Publishing.

Further information on this topic can be found in “The Jet-to-Let Bible”, by Dominic Farrell, ISBN 1 905261 11 X

For information and advice on investing overseas, contact Bewarethesharks.com on +44 (0) 151 482 5525 or visit www.bewarethesharks.com
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