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Offshore Company Land NewsLetters?


Can I use my offshore company to buy property in the BVI?  
Staff writer:
Sept. 24, 2012

Yes. You can use your offshore company to buy property in the BVI and most other countries. Some countries have restrictions on who can buy property. There are several taxes in the BVI associated with purchasing property here. It is no tax haven when it comes to buying property on the island.

The offshore company must first obtain a Land Owner's Permit before completing a proposed purchase. This permit is issued by the BVI Government, if they approve your application. There is a non-refundable filing fee for the application. A BVI Law Firm can file the application on your behalf and they would charge you a fee for this service. 

There is also a BVI Government tax on the sale of property located in the BVI and annual property taxes. No tax breaks here, however the tax rate is lower than some high tax countries. When a BVI offshore company is used to buy or hold property in another country, none of these BVI taxes would apply. The company has to comply with the property laws of the country that the property is located in.               

If you have any questions about the above, send us an email.