Question Offshore real estate company

[atitov]

Hi. Last few weeks dive deep into real estate topic so have few questions.
First question, If we talk about EU, especially Spain or Portugal, is it possible to buy their RE for any kind of offshore company as owner? if so, what's the best options for offshore company? Malta? Is it possible to use Portugal/Spain mortgages ? or maybe offshore company based country banks for mortgage?
Second question (if answer for first question is yes), is it possible to avoid taxes from this rental properties? Like all rental money goes to pay mortgage so "no profit = no income tax" or maybe another way?
Sorry for newbie questions, just started figuring out how things works.

 

[CyprusLawyer101]

Hi
1) yes normally you can have an offshore company as owner, however you need to check the local regulations of the place where you are buying the real estate for any restrictions. Maybe using traditional offshore jurisdictions would be a better option . It really depends on your final plan. I would auggest you first find the property you are interested to buy and then set up your acquisition vehicle;
2) Yes, it is possible to set off rental income with mortgage payments and minimize your tax exposure. This is normal, however you still need to assess the local tax rules to ensure it works properly;
My general suggestion is once you identify the property or at least the country where you wish to invest in RE, consult with a local tax professional as well as with an offshore tax professional setting up such structures. Your ideal solution will be between the info you will recieve between the two.

 

[atitov]

Maybe using traditional offshore jurisdictions would be a better option .

Thanks! What do you mean by "traditional offshore jurisdictions"?

 

[CyprusLawyer101]

Thanks! What do you mean by "traditional offshore jurisdictions"?

Seychelles, belize, bvi, panama etc etc.