An offshore company with industrial property

[Arsenal88]

Hi guys,

I would like to set up an offshore company under my name. After that, I would like to incorporate our family-owned industrial property (the immovable estate and the industrial building itself) into the new offshore company. The ownership of the industrial property would belong to the offshore company. Is it possible only on paper, without moving money or not (e.g., handover of the ownership to my name or to the name of the offshore company)? This is the reason why I am looking for some kind of solution if it exists.

Thank you for your answer in advance!

Happy New Year 2020 to everyone!

 

[Sols]

First of all, what are you hoping to achieve by doing this?

While probably technically possible (I can't think of anything in your description that would be illegal in and of itself), make sure you don't get yourself into a big mess here. Speak with a lawyer before you do anything like this. There are is a myriad of regulations to sift through and considerations to consider.

For something family-owned, you may find that a trust or foundation to be a better vehicle than a company. Depending on the exact situation, a good lawyer can guide you to the right solution that's compliant with the law and sustainable for generations.

 

[Arsenal88]

Hi Sols,

First of all, I would like to thank you for your rapid answer, I very appreciate it.

1st reason: I would like to have our company entirely, but I do not have enough money to buy it now.

2nd reason: I want to keep our company safe for me because I will enterprise in the future.

3rd reason: I want to export my products in the future. These products will be different than our recent products (packageable, transportable and preserved).

Could you please explain why a foundation or a trust (e.g. a holding company) is better in my case?

Thank you for your answer in advance again!