Vacancy fees for foreign acquisitions of residential land

An annual vacancy fee imposed on foreign owners of residential real estate if the property is not occupied or genuinely available on the rental market for at least 183 days in a particular 12 month period.

Foreign owners can avoid the fee by living in the property (or have a family member live in the property), leasing the property, or making it available for rent, for a total of 183 days in a 12 month period.

Short term letting arrangements often won’t be sufficient to avoid the levy.

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