It depends on the country you live in, but it would be too suspicious in the eyes of the local tax authority. It's better to use a European company for this purpose (e.g. Bulgaria).I have a company in HK and would like to use it to put car and properties on it's name instead of my own as a individual.
I live in the EU.
Is that even possible and if it is, how?
You can do it and pay a rent for it to your HK companyWell quite a coincidence you suggest Bulgaria, since that's where I live.
So, would be wise the HK company to own the bulgarian company or what would be the best way to set that up?
Not sure if this will work at all! The reason to give you the car would be that you are an employee working as an sales agent for the company and you have to get around to visit customers.The bulgarian company that is owned by the HK one will be paying rent to the HK one?
And what would be the reason of the bulgarian company of giving the car to me to drive?
I mean paying a rent to the HK company without using a bulgarian company....I told you that because that seems to work here in SpainThe bulgarian company that is owned by the HK one will be paying rent to the HK one?
And what would be the reason of the bulgarian company of giving the car to me to drive?
What I meant is in the other two threads you wanted to cash out crypto in a way that the income goes fully to your name. In this you want to keep expensive things that you want to buy off your name...Well the goal is to have expensive car under my control that is not on my name so I don't have to explain how I can afford it.
I meant exactly that. The OWNER of the car is the offshore company, the REGISTERED KEEPER of the car is what has to be a local entity in order to be able to get local license plates. The local entity can be either you as an individual or the locally registered 'commercial presence' of the same offshore company with you as the authorised person. Many countries allow to register a 'commercial presence' for a foreign company in the local business register for a fee, this is unlike a 'branch' not a separate autonomuos locally taxable entity with an OECD 'permanent establishment' but an authorized office/person that does activities that are deemed preparatory and auxiliary in nature by OECD DTAs. 'Commercial presents' have a local address so are a good vehicle to open local bank accounts, register cars, enter into an insurance contract, own a building, etc.The easiest way would be to have the car owned by your company and registering it to your name. It's the same as when you lease a car, it's also owned by the leasing company which might even be in another country.
Don't bother to own the car, lease or rent it for long periods with a negotiated or unlimited mileage, you have a contract for its insurance, service and repairs because expensive cars = expensive repairs, they are badly built and most car manufacturers do regular recalls for failing parts etc., it will avoid you as well to be flagged with the same foreign plates and change regularly if you fancy a different model.I have a company in HK and would like to use it to put car and properties on it's name instead of my own as a individual.
I live in the EU.
Is that even possible and if it is, how?