Transfer house to offshore

[Confusedxx]

Can anyone explain the benefits of transferring a house to an offshore company? Secondly, is it possible to transfer a house with a mortgage to a new offshore somehow?

 

[dwilson]

The bank or financial entity that holds the lien on the property will not allow the property to change ownership unless the lien has been repaid.

 

[JohnLocke]

Most often when a offshore company will buy property i.e. a house then the company has the necessary funds available to pay for it. We have a few clients who own more than 3 houses / property in 1 Cyprus company, but they had the necessary funding as well.

 

[Hassyle]

Some company will take all responsibility of your offshore house matter. Another thing you choose offshore company due to that companies can establish local presence and take advantage of the local knowledge as they bring the production process and delivery closer to their target markets.

 

[radolf]

Buying house via Seychelles company


Buy house via Seychelles company


Hi I have a Seychelles company with bank account in Switzerland. I would like to buy an apartment in Bulgaria through the offshore company in order to a) live there myself when in Bulgaria b) rent it out while not there.


1) Shall I buy and register the house via the Seychelles company (and pay by transferring directly from the Switzerland account to the owner). Or is it better to incorporate first a company in Bulgaria, which is fully owned by the offshore company, and then register (and pay for) the house via the Bulgaria company. The idea behind this would be to clip in an additional layer of privacy (not that I have to hide anything but I just want to keep away ownership from me personally as far away as possible). Am I exaggerating? What are your thoughts?


2) Are there any disadvantages buying via the Seychelles company directly? I could imagine Bulgarian authorities and bureaucrats are not used that an offshore company is buying a house.


3) An alternative would be to make an loan agreement with the Seychelles company (i.e. between the Seychelles company and me personally) and the buy/register the apartment on me personally. I guess ownership would still be the offshore as long as loan is not paid back (which never will be the case) and things may be easier when dealing with authorities. However privacy seems gone (e.g. in case I get married/divorced or being sued personally).


Any thoughts highly appreciated.