A property holding company can be established and used for owning commercial, residential or other types of properties located in another country.
Where a person is domiciled outside a territory and owns properties located in that territory then such assets may be protected against inheritance tax and higher rates of taxation by holding the assets through an offshore property holding company. A high net worth individual with properties or other assets in a number of countries may wish to hold these through the medium of a personal holding company so that upon his demise the need to obtain probate in each country is avoided. This saves legal fees and avoids publicity.
Many of the difficulties and expenses associated with investment in overseas property, such as holiday villas, may be avoided by the use of an offshore company to hold the title of the property. Sales of the property at a future date can be dealt with quickly and easily by the sale of the company shares to the purchaser. Moreover, this also saves legal fees and overseas transfer and value added taxes levied by certain foreign countries. It can also be used to successfully avoid capital gains and inheritance taxes.
Finsburey will provide you with the following services:
- Company and other entities formation.
- Provision of Registered Office Address.
- Provision of Directors
- Provision of Secretary.
- Open bank accounts in nominated currencies.
- Bookkeeping and accounting including tax filings where applicable
- Corporate administration and other miscellaneous services