buying as a private person or with "sl"

I bought a house last week and I like to know some experiences with "SL".

What is the advantage to purchas with the "SL"? How much is the yearly cost ?

 

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Dirk,

Personally I have not heard the term "SL", what does this mean?

if you can explain, someone (maybe even me??) may be able to anser your question.......

kind regards,

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Fibby,  "There are a number of mechanical  devices which increase sexual arousal,
 particularly in women. Chief among these  is the Mercedes-Benz 380SL." Lynn Lavner

Dirk, as far as I know, the idea of buying in the name of an SL company is to avoid transfer tax & possibly capital gains and/or inheritance taxes, but this is a complicated issue which you should consult a legal adviser over. You could try Maria who is a lawyer and regular contributor to this forum. mailto:mldecastro@costaluzlawyers.es

Good Luck!

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Now I get it Roberto!

I always wondered what the SL meant on my Merc.........and also why I got so hot whilst driving it!

Just I didn't associate it with buying in Espania, what a drip!

thanks!

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Thanks for the link to the lawer!

Don't you know any friends who used a company to purchase their property ?

Some people told me not to hesitate ... other remind me the new laws wich increase the costs of a SL company...

Dirk

NB sorry for my english, but in Belgium we speak flemish and french ...

 

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SL is effectively the same as Ltd Co. Roberto is quite correct that you need good legal advice, but it is principally to reduce tax burden - the benefits have gradually been eroded by the tax office and I consider it debatable as to its value. If you have already completed on the purchase then I wouldnt bother settting up an SL to take control. For a start the property will have to be transferred into the SL and therefore there will be a transfer tax liability not to mention the cost of setting the company up. For good measure it is illegal to borrow money to buy stocks and shares - thus if you are buying a property already in an SL you cannot get a mortgage to do so - this problem rears its ugly head again should you decide to sell - if you sell, you are not selling the house you are selling the SL whose only asset is the house - should your buyer require a mortgage they cannot get one to buy the SL - thus you have to find another buyer or dissolve the SL so that the house can be sold. 

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