Corporation/Foundation to own real estate
This is not for everyone but depends on future plans. If you think that for some reason you may want to resale the property, then the benefit will be that you would not have to transfer title and pay transfer taxes, but the property will stay under the corporation or foundation’s name. What you sell is the ownership of the corporation/foundation instead. In regards to you Title Insurance it will also remain with the property as the insured corporation/foundation will still own the property after you’ve sold. Other benefits include: no need for a last will or testament and a succession trial for property to pass on property to your heirs but corporate ownership transfer instead; your ownership of the entity and thus the property is completely anonymous and not subject to any information exchange treaty for tax purposes with any other country. Also foundations assets cannot be impounded or seized.
(Nikki Beach Proyect – Playa Blanca, Panama)
Complete cost of corporations are around USD$850.00, and Foundations all inclusive packages average USD$900.00. These are not sold by us, but by our network law firms. These costs will almost always be less than paying title transfer taxes if you or your heirs decide to sell the property in the future. Our network firms also have a Visa and Immigration Services Specialist.
February 9th, 2008 at 4:42 pm
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.
Eric Hundin