Can Americans Benefit From 1031 Exchanges in Dubai

Among the many reasons to invest in Dubai, which include affordable price per square foot;  high projected capital appreciation rates and rental returns; being named consistently as top global destination with a population spurt in a safe and stable economy; and, being a “tax free city”, investors can also benefit from 1031 Exchanges.

As explained by 1031 Specialist Andrew Gustafson, CES®, the incentives associated with the 1031 Exchange for foreign investors means:

1. “The IRS allows international real property to be 1031 exchanged for other international real property given the fact pattern of holding the relinquished property satisfies IRS Revenue Procedure 2008-16.”
2. “Property in Dubai with a capital gain tax due can be deferred in a 1031 exchange when real property of greater value is acquired and held for at least two years.”
3. “In each of those two years, the property must be rented a minimum of fourteen overnights, with no more than fourteen personal overnights in each of the two years.”

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