I am considering doing a cash out refinance to a rental property I own in the U.S. I want to use the money to buy a property in Ireland. Will I be able to transfer the money to Ireland legally and without paying taxes in either jurisdiction? I'm hoping to transfer $160000 USD.
I was going to sell the property but after taking into consideration CGT and real estate fees I am considering the refinance as I will end up with the same amount of money. The rent from the property will cover the cost of the mortgage payment plus other associated costs on the property. We plan to return to live in Ireland permanently next year.
I was going to sell the property but after taking into consideration CGT and real estate fees I am considering the refinance as I will end up with the same amount of money. The rent from the property will cover the cost of the mortgage payment plus other associated costs on the property. We plan to return to live in Ireland permanently next year.