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Message
What is the best way to transfer large sums of USD to EUR
Posted on 12/27/24 at 10:12 am
Posted on 12/27/24 at 10:12 am
When I search, I get inundated with a lot of options and mostly ads trying to sell their service.
If you’re looking to transfer somewhere in the mid 6 figures into EUR, what’s the most cost effective and safest way to do so? Also, what are the tax implications? This doesn’t have to be done at one time, but could be done over the matter of a few years.
Could you use crypto to do this?
If you’re looking to transfer somewhere in the mid 6 figures into EUR, what’s the most cost effective and safest way to do so? Also, what are the tax implications? This doesn’t have to be done at one time, but could be done over the matter of a few years.
Could you use crypto to do this?
3
Posted on 12/27/24 at 10:38 am to nugget
No clue. We're about to buy a home in Southern Italy and will be wiring about 300k usd to Europe next month
Posted on 12/27/24 at 10:43 am to TheOcean
I’m behind you in terms of timeline, but wanting to do something similar. My ultimate goal is to set up basically an alternate life, for a lack of a better word, in the EU. Home, cash, investments, preferably citizenship (been through this working in Europe and I know it’s a mfer).
Posted on 12/27/24 at 10:44 am to nugget
(no message)
This post was edited on 1/25/25 at 12:10 pm
Posted on 12/27/24 at 10:47 am to nugget
It was shockingly easy to get a mortgage as a foreigner in italy FYI. Which country are you looking at?
Posted on 12/27/24 at 10:49 am to TheOcean
quote:
It was shockingly easy to get a mortgage as a foreigner in italy FYI.
Whoa! Can you tell me more about this? Loan term? Rates? Down payment?
It's also easy in Mexico but in Colombia where i live, I can't get a mortgage. Everything is all cash
This post was edited on 12/27/24 at 10:50 am
Posted on 12/27/24 at 10:51 am to TheOcean
Most likely Greece, probably Crete. It’s not difficult there either, you mostly just need a higher LTV than you traditionally see in the US. Most are around 40-50% down, which doesn’t bother me.
I’ve invested pretty heavily in real estate in the US and been reading up on world wide investing. The money transfer is what worries me, though. I don’t want to take a haircut on the transfer if I don’t have to.
I’ve invested pretty heavily in real estate in the US and been reading up on world wide investing. The money transfer is what worries me, though. I don’t want to take a haircut on the transfer if I don’t have to.
Posted on 12/27/24 at 10:58 am to I Love Bama
Yeah, we paid cash for our mexico home. Builders give you a lot better deals there if you pay cash. Plus everything in mexico is a pain in the arse
Italy it's 50% LTV for this lender. 5% interest rate. 20 year note I believe. Would be a lower LTV/interest rate if we werent self employed.
My buddy just applied for an Italian tax ID and the rest was a breeze. We close end of January on a four story home overlooking the water in Monopoli
This is the property: LINK
Italy it's 50% LTV for this lender. 5% interest rate. 20 year note I believe. Would be a lower LTV/interest rate if we werent self employed.
My buddy just applied for an Italian tax ID and the rest was a breeze. We close end of January on a four story home overlooking the water in Monopoli
This is the property: LINK
This post was edited on 12/27/24 at 11:00 am
Posted on 12/27/24 at 10:59 am to nugget
I love greece. We rescued one of our dogs from crete. Brought her arse all the way back to the US 
Posted on 12/27/24 at 11:08 am to TheOcean
That’s awesome dude. Congratulations on your success. Awesome view you guys will have.
Posted on 12/27/24 at 12:02 pm to nugget
Wouldn't you just need to open a bank account in a foreign county and wire in the funds for the account? They would likely convert to Euros at the market value on the date of the wire. Might be a fee or mark up on the conversion rate but they would tell you ahead of time.
Never heard of this entity but they kids walk you though the options and have a Guide for a bunch of countries.
LINK
Never heard of this entity but they kids walk you though the options and have a Guide for a bunch of countries.
LINK
Posted on 12/27/24 at 12:31 pm to nugget
Buy artwork from Hunter. Arrange for kickback in Euros.
Profit.
Profit.
Posted on 12/27/24 at 2:35 pm to TheOcean
Dude, just here to say well done.
I'm set to inherit a 100+ year old house in a small Sicilian mountain village at some point in the future.
It's far from perfect, but it's been in my family a long time and although a bit of a trek to get to will serve as a nice home base to the rest of Europe sometime when life allows.
Plan to spend my summers there after I'm an empty nester.
I'm set to inherit a 100+ year old house in a small Sicilian mountain village at some point in the future.
It's far from perfect, but it's been in my family a long time and although a bit of a trek to get to will serve as a nice home base to the rest of Europe sometime when life allows.
Plan to spend my summers there after I'm an empty nester.
Posted on 12/27/24 at 2:54 pm to nugget
Post an update when you pick up something in greece. Always love seeing what people buy overseas
Posted on 12/27/24 at 2:56 pm to LSUShock
That's awesome. We heavily looked at Sicily. Love those mountain towns. Make sure to grow some olives, figs, and tomatoes
Posted on 12/27/24 at 7:34 pm to nugget
quote:
The money transfer is what worries me, though. I don’t want to take a haircut on the transfer if I don’t have to.
I bought a condo in Antwerp. Had Regions wire transfer 200,000 euro to a Belgium bank account with no problem. My branch called the foreign currency department in Birmingham for them to lock in the current exchange rate then we sent the USD equivalent. I think it was only a $50 fee for the international transfer. If Regions could do it, I would think most major US banks could.
My understanding is there are no tax implications for a simple transfer to Europe. If you have a personal bank account in Europe you have to declare it to the IRS. If you get a money transfer from Europe to your account you definitely want to have your accountant determine if it is income and pay taxes on it to US. I believe the only time the other country comes into play for taxes is when you sell the property.
Also I did a week in Crete this summer. Loved it. The food and wine were so good. The fruit juices there are next level, taste totally different. Check out the southern coast sometime where there are no tourists. It was great.
This post was edited on 12/27/24 at 10:03 pm
Posted on 12/27/24 at 8:29 pm to TheOcean
Looks like a prison block on the ocean.
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