Investment in properties in Mel

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Hung
Participant
@hungho-vn
Join Date: 2018
Post Count: 2
February 16, 2018 - 9:19 pm
To Whom May Its concerns,
I am new-Australian and my friend non-Australian however he owns a source of money and want to invest to properties in Mel for retirement purpose.
Can we open a company to invest to properties?
– My purpose: investment for profit
– My friend’s purpose: retirement purpose
Give me an advise if possible. Thanks.
- This topic was modified 6 years, 9 months ago by Hung.
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 17, 2018 - 4:40 pm
Hi Hung
Welcome to the forum and I hope you enjoy your time with us.
If your friend is a Non resident he will be limited to what he can purchase and will require the approval of the Foreign Investment Review Board.
Nothing to stop him being a Director of an Australian Company as long as there is 1 Director who is a permanent resident but this won’t help him.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hung
Participant
@hungho-vn
Join Date: 2018
Post Count: 2
February 25, 2018 - 4:46 pm
Hi Richard Taylor,
If he and me are both Director; this Australian company can invest in house for cash-flow or capital gain?
I plan to open Australian Company becuase he is non-Australia So he only can buy new house in Aus only. When he has citizenship in future, company can re-transfer properties to him.
Do you think I am in the suitable direction?
Thank you so much
Ho Hung
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
February 25, 2018 - 9:19 pm
Hi Ho
No he is limited to what he can buy even if he is a Director of a Company being a non-resident.
Yes that is possible however there other considerations including Stamp Duty and CGT to be considered.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender