Can BVI Offshore companies own property or Assets in other countries?

 BVI Offshore company is a legal business entity registered and protected by the corporate laws governed under the BVI legislation. However, BVI offshore companies cannot conduct business inside the country which also include purchasing any property or land assets in BVI. The BVI Offshore company is not mandated to have a BVI citizen or resident to be a company director or shareholder. It means any foreigner can own a BVI company or act as a director of BVI offshore company subject to approval by the relevant authorities. 

BVI Offshore companies are only allowed to generate revenues or own assets outside the BVI jurisdcition. Hence, the BVI offshore company can own property or assets in its name in other countries. In fact, there are a lot many advantages of owning a property or assets under the offshore vehicle as an investment.

Some of the advantages if owning the assets through offshore company include-

1) Ownership Flexibility - The assets (property or investments) are owned under the company's name instead of an individual. At the time of sale or transfer of assets, the buyers can avail advantages by choosing to transfer the shareholding of company.

2) Privacy - Offshore company provides advantages of privacy regarding the shareholders and beneficial owners as all the investments made and assets owned will be under the company's registered name and not the individual's name.    

3) Double Taxation treaties - Investors/ Owners can avail benefits of double taxation treaties wherein the tax paid on the purchase of the property by the offshore company may be partially reclaimed with the company registered jurisdiction as long as the both the countries have a double taxation treaty in place.   

4) Estate Planning  - Offshore company can be used as a medium to transfer assets to relatives wherein the assets can be retained under the company with just the transfer of the shareholder rights. 

BVI Offshore companies can certainly be used to own assets in the form of investments or properties. Please consult with experienced consultants like Gryffin Capitalist, who can assist you with the offshore company registration in BVI.