Company and Offshore

Viewing 6 posts - 1 through 6 (of 6 total)

fenpub
Member
@fenpub
Join Date: 2004
Post Count: 5
June 18, 2004 - 6:18 am
Is it possible to setup a company within Australia, buy Real Estate but have the money come from overseas?
Does anyonknow things to do with the Foreign Investment Board?
Any help appreciated, unfortunatly rather urgently.
Helena
0423-135-996
Helena Andrewatha
melbear
Member
@melbear
Join Date: 2003
Post Count: 2,429
June 20, 2004 - 11:55 am
Helena
I think your company can borrow money from anywhere – that’s up to it. The FIRB issue only comes in when it’s ownership of the assets. As Rob says, your company is a resident, so it’s not an issue.
Hope this helps. My offer to you still stands []
Cheers
Mel
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
June 21, 2004 - 2:02 am
What happened to Rob’s post?
I think it is OK too. I know of people who have purchased properties for cash with the money coming from o/s and they did not need to go thru the FIRB.
Terryw
Discover Home Loans
North Sydney
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Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Saskatoon
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@saskatoon
Join Date: 2002
Post Count: 112
June 25, 2004 - 10:56 pm
Originally posted by fenpub:
Is it possible to setup a company within Australia, buy Real Estate but have the money come from overseas?
Helena
0423-135-996
Helena Andrewatha
Helena,
be sure that you use the best entity to purchase property. Advice on the forum has been that a company is the worst entity to hold real estate for most investors.
Do your research, and get professional advice!!
Terry
Terence McMahon
HomeWin
Finance
GreatPig
Member
@greatpig
Join Date: 2004
Post Count: 284
June 26, 2004 - 2:05 am
Originally posted by The Mortgage Adviser:
I don’t consider using a company as the worst entity to hold real estate
I think it is the worst entity for holding any appreciating assets that will give capital gain, as you can’t pass the 50% CGT concession through a company.
For purely income investments it may not be such a big deal, although it is probably still better to hold those in a trust and just have the company as a beneficiary. The trust gives much more flexibility for distributing income and better asset protection.
GP
Vaslav
Member
@vaslav
Join Date: 2003
Post Count: 86
June 26, 2004 - 5:13 pm
shoudn’t be a problem so long as ur company is resident, meaning the director are australian residents. FIRB will only look into any investment set up by Foreigners, non-Australian, so if you have most of your directors that are non-australian residence ( citizen or PR ) then you will require FIRB approvals.
As for funds, it’s the same no matter where u get it from, after all, u’re allowed to borrow from overseas banks anyway. so that is not a problem
There’s no Such thing as No Can’t Do!!!!!