Investing in an offshore destination is one of the booming decisions among global investors. The global offshore jurisdictions are the best platform when it comes to offshore company establishment.
Apart from company incorporation, the business investors consider using the platforms as a protective umbrella to transfer assets, gift property to their loved ones, or simply open an offshore bank account to take the benefit of tax-exemptions.
Now, when it comes to transferring of property, any property in the offshore jurisdictions can be transferred to an offshore company, preferably an International Business Company (IBC).
This guide will highlight the essentials that one needs to know before transferring property or proceeding ahead with the same.
Offshore Property Transfers
Transfer of offshore property can take place in two ways, namely:
- Direct Transfers: this leads to the direct imposition or ownership in an asset, preferably in whole or a part of it.
- Indirect Transfers: this states that the asset gets transferred through indirect mediums
How to Transfer Property to an Offshore Company?
One must follow the below guidelines to transfer property to an offshore company.
1.Have a word with a Business Consultant
Proceeding with the guidance of an expert is one of the smartest moves that you can proceed ahead with.
Experts are well-versed with the process and can assist you in securely completing the same. Here’s a guide on the Reasons to Hire an Offshore Business Consultant.
2.Select a Tax Haven Jurisdiction
Once you choose a respective business partner, the next move is to finalize a tax-haven jurisdiction. Here’s a list of the popular offshore jurisdictions that you can select to proceed ahead.
However, it is advised to choose one after having a word with business experts.
3.Set up an Offshore Company
After the tax-haven jurisdiction is selected, the next move is to proceed ahead with the incorporation of an offshore company.
Many at times, an International Business Company (IBC) is one of the preferred options as compared to the other business entities.
4.Be Clear About the Tax-Laws
The final move is to have a look at the tax laws before transferring the property. Knowing the tax laws serves out to be a beneficial move as different jurisdictions have got different proceedings.
There might be different restrictions or prohibitions on non-local companies or persons. Understanding the best location that serves your purpose will help you to transfer the property simply.
However, it can be understood that transferring the property overseas is one of the risky yet a smart move. Now, proceeding ahead might turn up to be a complicated move if one is not well-versed with the relevant legal procedures.
At Business Setup Worldwide, we understand the legal compliances and, thus, take the initiative of providing the legal solutions in a hassle-free way.
Our business advisors are well-versed with the business incorporation, and this has made us as one of the top ten business consultants in Dubai.
While you plan to gift property to your loved ones, let us take care of the necessary procedures.
To know the further step, feel free to have a word with our experts. Contact us today-we’d be glad to assist.