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Buying House by US citizen

  • 31-07-2015 8:46am
    #1
    weshtawake
    Registered Users, Registered Users 2 Posts: 144 ✭✭


    A friend of mine residing legally in the US for 20 years and a U.S. citizen wants to buy a house here in Ireland.
    Are there any special requirements (anti money laundering etc) that he will need to meet or conform with to close the deal on a house?
    AFAIK he already has an Irish bank account for some years here.


Comments

  • #2
    FreudianSlippers
    Registered Users, Registered Users 2 Posts: 20,397 ✭✭✭✭FreudianSlippers


    I take it this person is also an Irish (or EU) citizen?

    Ignoring citizen/residency issues, it shouldn't be an issue to buy the house itself, once you engage a solicitor. One would also need to check with their accountant in the US as there will likely be tax issues (as well as property tax, stamp duty, etc.) in Ireland.


  • #3
    Pat Mustard
    Registered Users, Registered Users 2 Posts: 9,554 ✭✭✭Pat Mustard


    weshtawake wrote: »
    A friend of mine residing legally in the US for 20 years and a U.S. citizen wants to buy a house here in Ireland.
    Are there any special requirements (anti money laundering etc) that he will need to meet or conform with to close the deal on a house?
    AFAIK he already has an Irish bank account for some years here.

    There used to be s.45 of the Land Act 1965 but that was repealed.

    Money laundering legislation applies in respect of Irish people and foreigners, so identification is supposed to be supplied in any case.

    One thing is that the person will need to apply for an Irish PPS number in order to stamp the deed of transfer/conveyance, after closing. The solicitor should be able to assist in this application. ID, a copy of a bill and a signed application will be needed, if I recall correctly.

    There shouldn't be any other additional problem due to your friend not being Irish.


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