Buy St. Maarten Property on Company (offshore) Name
There are many advantages to buying St. Maarten property on offshore company name, most of which are intimately related to the core objectives and uses of offshore companies. These relate to asset protection, tax minimization and being able to invest and trade internationally.
Foreign residents in particular, can much easier achieve this since offshore companies are usually prohibited from owning real property locally (in the jurisdiction). As such, an investor who owns an offshore company incorporated in the Channel Islands, Seychelles, the BVI or any other jurisdiction, and buys St. Maarten property on company name can do so without having to personally do the transactions or reveal his or her true identity, since this will be done by the offshore company which will be the beneficial owner of the St. Maarten property.
Buying St. Maarten property on company name in this way separates the personal assets of the individual from those owned by the offshore company, making it possible to reduce personal net worth and protect certain assets from litigation claims. There is also the benefit of increasing the company’s wealth and capital and hence, ability to invest, make acquisitions and source funding.
As it relates to taxation, offshore companies are exempt from taxation on capital, income, profits and duties. Buy St. Maarten property on company (offshore) name is therefore a strategic way of eliminating transfer tax, since a share or shares of the value of and in the form of the St. Maarten property can be transferred to a member of the offshore company or another company without having to do any financial transaction. This would constitute a share transfer and therefore would not be applicable for transfer tax.
Buy St. Maarten property on company name opens up new avenues for international investment in St. Maarten and other islands like St. Barths and Anguilla, just to name a few. Investments do not have to be done under the name of an individual in particular, but in that of a corporation offshore (an international business company). This is one of the main reasons why offshore companies are established and buying St. Maarten property on company name is one of those types of global investments and ventures that can be undertaken using a company (offshore).
Owning an offshore company in itself makes it possible to own offshore bank accounts, which means that income generated from leasing, rental, sales, accommodation or other activity, from the St. Maarten property bought on company (offshore) name can be deposited offshore. There are lots of international banking facilities available at offshore banks, one of which is securities investment brokerage and related services which can maximize the company’s potential for growth through returns.
Even if residing outside of St. Maarten, internet offshore banking will make it possible to keep check balances, payments and transactions and better communicate at that level with business partners and associated. An offshore corporate account for property in St. Maarten bought on offshore company name can be managed in different currencies, and is beneficial because of the fact that various currencies, the US dollar, Euro and Dutch Guilder are widely used throughout St. Maarten. Casino income is an example of funds that can be managed through an offshore bank if buying St. Maarten property on company (offshore) name, while merchant accounts offshore can be used for receiving payments on hotel rooms and stays via the internet. Here again, multicurrency merchant accounts come in handy and enhances the benefits of having bought St. Maarten property on company (offshore).
When ready to buy St. Maarten property on company (offshore) name, it is important to find out what the legal requirements are for such acquisitions, especially as a non resident. Proper legal and financial advice will ensure that objectives are fulfilled as planned and are in keeping with legal requirements.