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Best way to purchase property in Madeira |
Charmaine
Posted on: 02/07/2010
Posted at: 11:54:19
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HI, my husband and I have purchased a piece of land on which we would like to build a holiday home in Madeira. We are South African residents. We do not intend to sell the property in the future and would like our children and grandchildren to benefit form the use. We would like to know which would be the best option in terms of registering the property for the lowest costs. Should we register it in our personal names or in a Company (non trading) or a trust? Also from an asset protection point of view, which would be the best route?
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Roger, Palheiro Real Estate
Posted on: 05/07/2010
Posted at: 09:23:31
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I'm a property professional working in Madeira. Interesting question - this is a specialised area and the answers depend on the specific circumstances of the Purchaser. There are some experienced companies here who know the fiscal/tax regime well and can give specific advice. Let me know if this is of interest and I can put you in touch.
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Sebastien
Posted on: 06/07/2010
Posted at: 15:50:54
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Hi. This is an interesting question and subject. We have our own office in Johannesburg and Cape Town, and my colleagues would be more than pleased to advice you. We developped interesting products for SA residents. Please let me know if you are interested and I would put you in contact with my SA colleagues.
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Anonymous
Posted on: 15/08/2011
Posted at: 11:56:33
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Hello,
There is no inheritance tax on the island that allows people to transfer land and properties from generation to generation. You can register a business in the IBC ( International business centre of Madeira) that will give you significant tax breaks and Madeira also have a tax treaty with South- Africa. Let me know if you want more information.
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