What’s the tax rules on bringing money into the country?


I have a couple of questions about inheritance from a non-EU country. I am an expat in Ireland. I come from Asia. My wife is a non-Irish EU citizen. We have decided to put down our roots in Ireland. We recently bought a house in Dublin. My three questions are as follows:

My mom, who lives in my home country, has divided her home equally between me and my brother upon her demise. The value of my share is little over €100,000 based on today’s exchange rate. I know that in Ireland there is no capital gains tax (CGT) if the inheritance value is less than €335,000 (minus any gifts received over lifetime). Because we have decided to put down our roots in Ireland we want to bring that €100,000 to Ireland. Will there be any tax implications?

In my wife’s case, she will inherit a property from her mother whose value is little under €100,000. If she chooses to bring that money to Ireland, will there be any tax implications for her ?

More complex maybe, I own a two-bed apartment in my home country. It is registered on my name. I am not deriving any rent from it because, since my father’s death, my mom lives there, rent-free.

The value of the apartment on today’s exchange rate is about €80,000. Do I have to pay tax on that amount if I sell my apartment after my mom dies and bring that money to Ireland?

Please note that my principle residence is my home in Dublin. But at the same time, I have not used my apartment in my home country for investment purposes either. How will the Revenue look at this amount because this I believe does not fall under the remit of an inheritance?

– Mr K.R., email

It can be really confusing to sort out taxes when you move across borders – or when you have assets in different countries. Even within the European Union, there can be vastly different rules between one country and another – so much so that people are sometimes advised to have different wills to manage property issues in different countries.

The good news for you is that you don’t need to be worry about that.

There are a couple of different issues brought up by your questions: inheritance tax (also known as capital acquisitions tax), as you suspect, but also capital gains tax.

Under Irish inheritance tax rules, you are generally liable to the Irish inheritance tax regime as long as any of the following apply:

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