[Joshua888]

Firstly I am not an Accountant, however I can only speak on behalf of property investment in Europe. Under EU law it is now mandatory that the authorities within Europe notify the inland revenue department of any and all properties in your name or a company name, therefore I would highly advise you to pay the relevant taxes obviously with the deductions you are entitled to ie: if you have a mortgage on the property lets say for argument sake in Spain, you are entitled to 70% mortgage LTV, of of this 70% you can claim a propotion of the 1% annual wealth tax of the Spanish mortgage against the property. Also many purchasers who invest in Spanish property or purchase a Spanish property for holiday purposes and have no intention of renting the property out at all, these properties still carry an annual tax rental bill as the Spanish government deems that if a foreigner can afford a second property they should pay tax on rental income regardless if the property is being rented or not. Therefore when it comes to any type of property acquisition in any country within the EEC I would definately make sure you utilise a good accountant, to save you any problems in the future by trying to avoid the tax man or paying dual taxes.