New corporate income taxes affect foreign property

[siriwan]

I bought the house & land (agricultural) with the money I lended my own company.

Now I'm thinking about putting the house to my name (as a safety plan :-), don't like to put all my eggs in the same basket...). Since "my" money bought it, the value of the house would be deducted from what the company still owes me, of course.

I wanted to know if the RETT had to be paid again even if it is less than 2 years after it was bought (we do have such a rule in Belgium, that's why I ask, though I guess the answer is "no" haha :-))

[Carol]

every person I ever asked this question if always said "YES".

New owner = new 5% RETT

(and it would be a new owner - on paper at least)

[upthevilla]

Yes, you pay again.

The only time that you do not pay the 5 % Croatia real estate tax is if you are buying a Croatian property that is all ready in a Croatian company and you are buying the company. If this is the case then you are actually buying the assets of the Croatia company and therefore do not pay the 5 % stamp duty as you are not transferring ownership of the Croatian property only transferring ownership of the Croatian d.o.o company

[siriwan]

Thanks!

That's what I thought, but you never know, lol!!!

It makes sense if you're buying the company...

[riki]

If you buy a company that owns property, do you need to somehow transfer the ownership of the property to the new company name?

[mambo]

If you structured it well it is only a transfer of the shares, nothing else. The d.o.o. still remains the owner of the property, it is only the shares of the d.o.o. which change hands.