We are looking to purchase a property in Berlin, and intended to purchase it through a GmBH. The main reason for this is as their is 4 of us involved, we thought this ownership vehicle would facilitate a more tax efficient, and easier exit strategy.
Is there any obvious downside to owning the property through a GmBH? Also, is it possible to simply purchase it through an Irish Ltd, and then register this Ltd in Germany?
Dontaskme,
My understanding is that to incorporate a GmBH, you need €25k share capital and costs about €3k. I don't know what to expect for annual running costs, or winding up costs.
The Ltd is cheaper to set up, with no share capital injection, but don't know if its a viable option both from the legal, and the lenders point of view.
Any thoughts on this?
Allowable acquisition/enhancement/disposal expenditure expeneses and previously incurred capital losses could also enter the calculations here.Berprop,
You would be paying €1,746 in CGT.
10k Gain less annual CGT allowance of €1270 * 20%=1746.
Hope this helps.
Ranger
Cheers - that is from the Irish tax point of view. I was more wondering about what liability, if any, i would have to the German Tax authorities.
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