Jump to content

Search the Community

Showing results for tags 's.a. vs insurance'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Visitors and New Users
    • For Visitors and New users
  • The Association of Costa Rica Residents (ARCR) - Retirement, Life, Work and Travel in Costa Rica
    • Living or Retiring in Costa Rica
    • Residency and Citizenship In Costa Rica - Laws and Current Policy
    • Moving to Costa Rica
    • Travel in Costa Rica
    • Real Estate in Costa Rica
    • Communications, Technology and The Internet in Costa Rica
    • The Costa Rica Business Forum - Doing Business in Costa Rica
    • Open Forum - Topics NOT specifially related to Life in Costa Rica
    • El Foro en EspaƱol
  • Any Property For Sale or Wanted - Including rentals or other items
    • Any Property For Sale or Wanted - Including rentals or other items

Calendars

  • ARCR Community Calendar

Found 1 result

  1. With the corporate tax about to be reinstated, I am wondering if it is time to dissolve the corporation that our condo is owned by. My understanding is that the new corporate tax law allows an opportunity to dissolve a corporation before the new tax takes effect. We used a corporation to purchase a condominium in 2011 when there were tax advantages (i.e. real estate transfer tax exemption) as well as some other advantages that may still apply. But since then the transfer tax exemption has been removed and taxes on inactive corporations have been added. Furthermore, I have found my USA income tax reporting to be more complicated due to ownership in a foreign corporation. I am wondering if the advantages of ownership of real estate in a corporation still offer enough advantages to offset the disadvantages. One concern is whether a transfer tax would apply if we dissolve the corporation at this time and transfer the property into our names. That would be a change in title on the property which normally would require payment of a transfer tax - and that would make the transfer rather costly for us. But if the current law allows a change in title without payment of the transfer tax, that may make it an opportune time to make such a transfer. One advantage touted is better protection against property theft using identity theft methods. Is this still a big advantage? Or with current disclosure laws relating to corporations, is there sill much advantage? I will be discussing this with my attorney, but I would also like to get other viewpoints on the pros-cons of corporate ownership of real estate in Costa Rica based on current laws.
×

Important Information

By using this site, you agree to our Terms of Use.