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Do I Need an Offshore Company to Own Property Abroad and how can I Finance it? |
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By Craig
Taunton
If you're thinking of buying a home abroad or you already own foreign real
estate assets you need to look at all the options available to you. The first
thing you need to be aware of is that buying a home overseas is a taxable
action, it can draw an increased liability for taxes such as inheritance,
income and capital gains tax not to mention that such a purchase often incurs
stamp duty, transfer taxes and of course legal fees. This all means that it is
sensible to research your purchase options and obligations carefully from a
financial as well as legal perspective before making a commitment to buy.
Sometimes the establishment of an offshore company through which the property
to be purchased will be bought is a more sensible approach from a fiscal
perspective as it can mitigate or even negate financial losses. ...however, some
countries disallow foreign ownership of real estate through an offshore structure.
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Private Foundations |
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Here's a look at one of the more popular investment structures in Panama. Viapanama is no expert on the matter but we know where to find people who are:
Private Interest Foundations In Panama
by Roxana Rangel Villarreal
of Pattaon, Moreno & Asvat
It is not unusual these days to hear people talking about Private Interest Foundations,
and there is no doubt that among the financial services offered by our country this
is, together with Limited Liability Companies, one of the most chosen ands used for
the planning of inheritances and the protection of assets, because it maintains the
confidentiality of the founder and the beneficiaries.
A "Private Interest Foundation" can be defined as a legal entity having the objective of an inheritance or group of assets to be administered and conserved in accord to that established by
the founder of the statues.
In Panama, this is regulated by Law 25 dated June 12,1995, "By which Private Interest Foundations are regulated," Executive Dercree 417, dated August 8, 1995, and modified
by Law 6, dated February 2, 2005.
The structure of a Private Interest Foundation is based on the form of the Trust combined with elements of Limited Liability Companies, in which there are three basic figures: The Founder, The Foundation Council and the Beneficiaries.
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Panama Courts Real Estate Shoppers |
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Panama courts real estate shoppers with low prices
by Doreen Hemlock
South Florida Sun-Sentinel
Add Panama to the list of nearby nations seeking buyers in South Florida for its real estate.
Some half-dozen Panamanian exhibitors attended the recent International Real Estate Congress and Expo in Coral Gables, offering luxury condominiums in high-rise towers and other properties to buyers seeking lower-cost alternatives to South Florida.
High on their target list: U.S. retirees and Baby Boomers soon to retire, who might enjoy a home 2 1/2 hours by jet from Miami in a country that uses the U.S. dollar and where English is widely spoken.
The pitch comes amid a boom in construction and real estate in Panama, spurred partly by tax incentives the Central American nation now offers to foreign investors.
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Special Immigration Visas |
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There's always the conventional visas: getting married to a Panamanian or studying in a local institution. However, here are some special resident visas that have become very popular recently. Special and immigration visas • The tourist Pensioner Visa or Retiree's visa has an income requirement established by Panama of US$500.00 per month and US$100.00 per dependant. It may be issued to those who receive a monthly income from retirement sources such as Social Security, Government or Private Companies. • The Private Income Retiree Visa has an income requirement of US$750.oo per month earned from CD at the National Bank of Panama . As current interest rates, the CD could run around US$200,000.00. The deposit should be renewed every five years to maintain the Visa status. • The Person of Means Visa may be obtained by complying with one of the following options: 1. Purchasing real property worth at least US$200,000.00 in Panama . 2. Opening a CD deposited in a Panamanian Bank of at least US$200,000.00. 3. A combination of the two above worth at least US$200,000.00. |
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Investing and Living 
