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FH99
31-03-12, 22:05
According to the latest issue of The Economists, Singapore property is 60% over valued while US property is 15% under valued.
Anyone knows the detailed procedure for Singaporeans to own property in US?
FH99
31-03-12, 23:17
Found something. The tax is crazy: 46% estate tax, 15% capital gain tax, 30% rental income tax, and 5.5% closing cost. Need to set a company before buying a property.
http://manhattanmiami.com/resources/foreign-buyers-guide/
Arcachon
01-04-12, 01:25
http://www.zillow.com/homedetails/11473-N-Eagle-Peak-Dr-Tucson-AZ-85737/8619020_zpid/

Depend on where your property is. There are 50 state, each state have it own tax system.
FH99
01-04-12, 08:59
USD 150K for a landed house with swimming pool!
I am willing to pay 100% tax!
FH99
01-04-12, 09:02
Boston is too cold for me, California will have earthquake.
Any nice warm place in US (next to good universities)?
FH99
01-04-12, 09:19
A google map search shows the property is next too close to the boarder of Mexico. Dangerous?
Arcachon
01-04-12, 13:55
Every State in US have upper level housing and lower level housing.

For upper level housing, the house are beautiful, grass well trim, good school, low crime.

For lower level housing, the house have steel bar, high crime, lot of color people, problem school.

"A google map search shows the property is next too close to the boarder of Mexico. Dangerous?"

The place is call Oro Valley, north of Tucson. This is where Most of the Singaporean is staying.
supermax
01-04-12, 21:00
Found something. The tax is crazy: 46% estate tax, 15% capital gain tax, 30% rental income tax, and 5.5% closing cost. Need to set a company before buying a property.
http (http://manhattanmiami.com/resources/foreign-buyers-guide/)
://manhattanmiami.com/resources/foreign-buyers-guide/

Does foreigner pay 20% rental income tax or lower in Singapore?
Arcachon
01-04-12, 23:33
Does foreigner pay 20% rental income tax or lower in Singapore?

Prevailing tax rates for non-resident individuals

Tax payable is calculated at the non-resident flat rate of 15% (without tax reliefs) on your chargeable income or the progressive resident rate, whichever results in a higher tax amount.

Example:
If your chargeable income for YA 2012 is $80,000 (you earned $80,000 in the year 2011), your tax payable would be calculated as below:

Tax at non-resident rate ($80,000 @ 15%) $12,000

Tax at resident rate $3,350

As the tax payable at non-resident rate is higher, you will be taxed at non-resident rate. Your tax payable is $12,000.

http://www.iras.gov.sg/irasHome/page.aspx?id=9896
FH99
02-04-12, 22:20
Beautiful place. Should at least try to have some holiday there.
http://en.wikipedia.org/wiki/Oro_Valley,_Arizona