Ltd Co and buying property

[pincher]

I know I probably should ask my accountant this but I also know that I will probably get a quicker response here – is it possible to and are there (m)any implications of a limited company going in 50/50 with another individual to purchase a property overseas? Any purchase would be a cash one, so no need for a mortgage.

I presume that if it is possible, there would need to be some sort of agreement in place regarding ongoing costs associated with the property?

It would be mainly an investment (on both sides) but would probably earn some rental income to try and cover any maintenance costs etc.

[Eric Mc]

Far to many imponderables for anybody to give advice without sitting down and going through the whole scenario in detail.

You really do need to go through this very carefully with your accountant.

[sumo69]

Make sure he understands all the local tax and regularatory issues as well as those in the UK - you may need a specialist!

David

[pincher]

Thought that might be the case - thanks