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Bringing Property Proceeds to Ireland

  • 21-07-2024 4:47pm
    #1
    Info_Seeker
    Registered Users, Registered Users 2 Posts: 81 ✭✭


    Hi Folks,

    I am born and raised in Bangladesh. My mother gifted me a property (house) in Bangladesh in Jan 2010. She expired in Mid 2012.

    I moved to Ireland on Critical Skills Work Permit in 2020. I am currently on Stamp 4.

    The property gifted was registered as "Transfer by Gift". Property Value in 2010 was very low. Current property value is EUR 230K. Couple of questions:

    1. I am planning to sell the property and bring the proceeds to Ireland. I will pay relevant taxes in Bangladesh. When I transfer the amount to Ireland, will there be any tax implications in Ireland?

    2. Transferring EUR (or any other forex) from Bangladesh to Ireland (or any other country) is discouraged by Government (through Banks) in Bangladesh to keep foreign exchange reserves healthy. The buyer has a business in Bangladesh and USA. He can transfer some amount from USA to Ireland. He will pay majority of amount in Bangladesh. Will the transfer from US to Ireland be an issue?

    Thanks.



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