Why Nigerians should embrace UK’s property tax incentives — Property — The Guardian Nigeria News – Nigeria and World News & More News Here

A United Kingdom-based property funding agency, Messrs Baron & Cabot has urged Nigerians to make the most of incentives offered by the United Kingdom authorities for foreigners in the actual property sector.

The Founder, Mr. Mark Pearson, mentioned this whereas talking to journalists in Lagos.

He defined that proudly owning a property within the UK would additionally preserve funding protected from naira fluctuation towards the Pound Sterling and different currencies.

According to him, the UK is significantly thought of to be one of many lowest danger investments, with constant long-term returns.

He mentioned: “We have gotten shoppers who constructed property portfolios in Nigeria, made cash in naira, however once they transformed about $1 what they’ve made they’d have made more cash simply by placing their cash into properties within the UK.

“The advantages are huge for Nigerians. as you will get tax breaks. So, because of the relationship between the UK and Nigeria, all Nigerians get the same tax incentives that the British do, which means that the first one to 12 and a half 1000 pounds, you make, you don’t pay tax, which means the first one or two properties you rent after your costs, you don’t pay any tax,” he mentioned.

The property agency just lately launched its new base in Kenya and Nigeria to assist Africans put money into property within the UK in a easy and efficient approach.

Pearson mentioned the agency has constructed a market-leading analysis technique for traders to decide on what could be appropriate for them.

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“The investor is also granted a step-by-step guide on sourcing the right property to purchase. This gives the investor power and confidence to ask the right questions for profitable property investments. We also facilitate affordable mortgages for property ownership and provide legal frameworks to potential clients,” he mentioned.

For Head of Sales, Baron & Cabot Research, James Walsh, the corporate will impression property funding and sourcing within the UK due to its understanding of the market.

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