Hello ExPats
I would like to know if somebody has experience to buy real estate under the new law of invest account.
Foreign buyer make Invest account in foreign currency and Seller make a account at the same bank in the same foreign currency. Buyer sent money from foreign country and in foreign currency to his investaccount.
At the day of the contract the buyer sent the money from the investaccount to the foreign currency account of the seller. And one minute later the seller take all the money in foreign cash from his account.
Under the law is possible but the banks are quit complicate to give in once 100.000 USD in cash. Furthermore they like to have a letter of my foreign bank how i did the money. I mean how my bank should know this.
I find only one bank who already try to did it - Idea-bank. But they break the deal because the foreign buyer could not explain good enough how he did the money in his country.
I have 2 other banks. Both are asking for documents how I did the money. Here I use 3 Banks and sent my money from one bank to the other. I mean I really do not like to open my tax-reports of the last 10 years and translate all this documents.
Maybe somebody has some experience and know a bank which is relaxed and has some experience.
Thanks