Real-Estate investment from Offshore to EU

[no1d]

Martin Everson said:
Then why not transfer to an EU bank and make payment from there? There is no problem if you have a good source of funds. However if you don't thats why I suggested what I did
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I would prefer to use the corporate funds because I want to close the SEY company.

So the scenarios are:
1. Transferring 300k from SEY's EU bank to Austrian property owner and his bank might reject the transfer.
2. Transferring from SEY's EU bank to my personal EU bank, I might be asked questions by the bank or gov at some point in the future.

My conclusion is to transfer the funds from SEY to my personal bank in UAE, then from UAE to my EU bank and acquire the property.

 

[Martin Everson]

no1d said:
I would prefer to use the corporate funds because I want to close the SEY company.
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Stop jumping between personal and company funds and make your mind up with which funds you want to use damn_(.

no1d said:
My conclusion is to transfer the funds from SEY to my personal bank in UAE, then from UAE to my EU bank and acquire the property.
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Sounds fine. Like I said you need a source of funds. If you have this then good. If your game plan is cross your fingers and hope no one in Austria asks questions because money comes from your personal account then good luck.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[no1d]

I do affiliate marketing and own an affiliate network, probably not many people in their bank are familiar with this business.

 

[Martin Everson]

no1d said:
I do affiliate marketing and own an affiliate network, probably not many people in their bank are familiar with this business.
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Just say internet marketing to them. But they only need paperwork to show what you have been paid for, when and by whom. Banks will not be interested in any verbal explanation they need paperwork.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[kkein]

JustAnotherNomad said:
Ask a couple banks what rate they would give you? Then you're on the safe side.
You'll probably want to have high interest rates as a tax-deductible expense?
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Well since these kind of loans are from one's company to oneself, ideally lowest possible rate is better, as you have to pay taxes on the interests

 

[JustAnotherNomad]

kkein said:
Well since these kind of loans are from one's company to oneself, ideally lowest possible rate is better, as you have to pay taxes on the interests
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In the Seychelles or UAE? ns2
A high interest rate would probably be better - assuming he can claim tax deductions in Austria.

 

[no1d]

What tax deductions in Austria? I'm not Austrian citizen.

 

[JustAnotherNomad]

I'm sorry, didn't you write you were going to buy real estate in Austria?

 

[no1d]

Yes, but I'm EU citizen from RO.

 

[JustAnotherNomad]

Your passport has nothing to do with this. You only want to have the property as a holiday home for your own personal use?

 

[no1d]

Yes, holiday home and investment, I'm not moving in the Alps 🙂)

 

[JustAnotherNomad]

Ok, I thought you might want to rent it out.
Well, even as an investment, once you sell it, there may be tax on the profits. Not sure about the Austrian rules. In that case, it also won't hurt to have some deductions, though I don't know if you can carry forward the losses if you've used the property yourself...

 

[no1d]

It will be rented out while I'm not there, actually is just a plot, I'm planning to build the house next year.

 

[JustAnotherNomad]

If you rent it out, there will be Austrian tax. So then it won't hurt to pay some interest to your own company.