Can you buy a house with all physical cash?

[ShutUpLegs]

@Taiwan_Luthiers

Even people who can afford to pay cash for stuff like a house or a car still gets a loan, because you will have to answer a lot more questions about the money if you were to pay cash vs getting a loan.

Not really, plenty of people buying houses here in London and in Taipei outright with cash. Depends on many factors.

[Explant]

@Marco

@Explant

@Marco

@wko

I know Taiwan is still very dependent on physical cash whereas US and EU mostly use some sort of digital payment (cards, swift, wire, etc).

That being said, would one be able to buy a house in Taiwan and pay entirely in physical cash? Would this be allowed or raise any alarm bells? This is assuming one does not need any bank loan or mortgage of course.

The main reason being that it’s actually easier for me to liquidate certain assets for physical cash (crypto, watches, gold) in Taiwan and I’m curious if it’s possible to then directly use these funds to purchase a house. This would be extremely uncommon in the West, but how feasible would it be to do so in Taiwan? Are there any limits to how much physical cash would be allowed for a real estate purchase?

Yes.

Or you can wire it. Sure.

Ditto. But dont get upset if you have government folks calling and visiting you in person to ask questions. If its legal and you gave a big slice to the government, then there would be no issue.

You can bring in $2.4 Million tax free into Taiwan…

There are no legal issues. I agree. Its totally fine. But expect questions and perhaps visits. Just dont be stressed if that happens. And, of course, make sure you have paperwork to prove it legal.

[Joe22]

@Marco

You can bring in $2.4 Million tax free into Taiwan…

Interesting. Where did you get that figure? Or do you mean by wire transfer?

Reading this website it says US$10k or equivalent.

https://www.iatatravelcentre.com/TW-Chinese-Taipei-customs-currency-airport-tax-regulations-details.htm#Currency

[Marco]

No no, you’re mixing up what you can bring and what you need to declare. Money sent by wire is ALWAYS declared.

You can bring $2.4 Million tax free into Taiwan per year. After that, that’s when the tax man wants his cut. My down payment was about $2.2 million or C$100 000 so it worked out.

Oh, and that website spells Taiwan wrong.

[WongUser]

Why not do 5 or 10 years? Even with your example, you come out ahead at 1.x% interest on the mortgage.

[Joe22]

OK great, thank you for the clarification!

[LondonSpice]

@ShutUpLegs

Not really, plenty of people buying houses here in London outright with cash.

Yes Russian people now having taken off them

[ShutUpLegs]

I seriously doubt the toothless uk govt will make a dent. I mean look how few UWOs have been issued. I’m sure London will remain the money laundering centre of the world for some time yet.

[meishijia]

Deposit the cash to a bank account and pay via wire transfer. Other than being questioned where the cash comes from when depositing (100% guaranteed), all should be good. This way you don’t have to worry about being scammed since there is proof of payment with the bank.

[Shaun008]

@WongUser

Why not do 5 or 10 years?

Because i’m looking at like for like investment v’s lone fixed term.

@WongUser

you come out ahead at 1.x% interest on the mortgage.

After fee’s and tax you will end up down.

You can always invest the monthly payment you have from not paying a mortgage, get the interest on that without paying interest on the lone.
Also if you buy outright you own the house not the bank.

[Ender]

@Shaun008

Why would anyone get a lone

@Shaun008

the cost of the lone fee’s extra

@Shaun008

investment v’s lone fixed term.

@Shaun008

paying interest on the lone

loan

(Added bonus: vs)

[Shaun008]

@Ender

loan

(Added bonus: vs )

thanx

[Erick0]

I paid cash for a house 13 years ago. Circumstances were that it was on government land so only the house is mine, whereas I pay try monthly rent to the government for the land itself.
Cashing in on gold and silver or the like, you’d be deducted for capital gains tax, be forewarned.