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Money transferring/ cash buyers questions.

  • 02-10-2018 9:31pm
    #1
    Benjamin PT
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi everyone,
    We are non-EU married couple living in Dublin and planning to buy a house/apartment here. One of us will have Stamp 4 by end of next September. We have some questions regarding financial matters when buying a property in Ireland with cash.
    1. We have a certain amount of money in our home country inherited from our parents and we would like to use that to buy a property here. How can we transfer that money to Ireland ? Which documents should we prepare to prove our money is legit? Banks in my home country said it is not allowed to transfer money until we get citizenships/Green cards here. It'd take years. We understand that professional solicitors must be involved in house buying process but we want to make sure that it is legal to get the money transferred first and don't want to spend big bunch of money for law firms and then know it's impossible to do so.
    2. I was told that one of us has to work here at least 3 years to apply for mortgage? Is it correct?
    3. Is it easier for us if the money is transferred from an EU country than from non-EU country? We have some relatives living in the UK and German and wonder whether it's a good option to transfer the money from our country to those countries and then from there to Ireland. Money laundering is one of the major concerns in any transaction here so we would like to know the legal process, not the back door. Paperwork may be painful but we will take it if it's inevitable
    4. Any advice, or recommendations the next steps we should do?

    Many thanks


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