Dual citzenship philippines

[JoseandHelen 3]

Good evening,

I nned help guys...my wife has a house in the philippines and we are currently paying it montly and as a dual citzen do we have to pay taxes on it from being here in the usa. If so what kind of money will the taxes be.

jose

[NickD 202]

Willing to bet a half cup of coffee this post will be moved, but with no monitor experience, don't know where.

Wife owns a condo in Venezuela, first requirement is for her to maintain her Venezuelan citizenship. If she doesn't do that, will lose it, foreigners are not permitted to own property in Venezuela.

Second requirement is to pay a monthly maintenance free, have no idea why that is so high, don't have any grass to cut nor snow to shovel. But if we don't make those monthly payments, the maintenance company has the right to seize that property and sell it keeping the profits for themselves. One advantage for us with their recent 46% devaluation of the Boliva, that cut our monthly payments nearly in half by paying in US dollars.

3rd requirement is paying yearly property taxes, if those aren't paid on time, their state will take it away. They have no problem either in accepting US dollars.

We would like to sell it, but if we do, that money will have to sit in a Venezuelan bank and suffer their huge inflation rates. So just hoping for the best, no way to bring that money back here the way it stands. Wife would also love to drop her Venezuelan citizenship, but she worked her can off paying for that place. I wouldn't mind living there myself, no heating or AC conditioning bills, lovely view of the mountains, but couldn't take the crooked politicians and the bars on the windows.

Really don't feel you have these problems, can you just sell that place and use that money here? Would think you would lose it also if you don't pay their taxes. Moving here isn't any better, have to pay those taxes or lose everything.