Dubai

[GreenTreeFrog]

I am not sure if you can avoid CGT by owning Austrlain property in an offshore company... that I will have to look into. Where did you get that impression? I thought it would still apply being an Australian property - irrespective of who owns it? There is no CGT in NZ which is VERY attractive.

Buying in Australia through an offshore company can pose some problems - you have to get all purchases of existing buildings (but not vacant land!) approved by FIRB which, if you are an Australian Citizen, will be no problem. If you then change the share ownership of the company further down the track, it could require further approval to take on shareholders and if they are NOT Aus Cit then that could be a problem. Just something to consider.

You certainly don't have to be a Ni-Van to own an International Company based in Vanuatu. You can open one today and structure it so YOU can't be traced to it if you are so inclined - which I am not (just for the record!).

Below are links to commonly used companies for setting up and managing offshore international companies in Vanuatu.

The limitations are International Companies can't do buisiness IN Vanuatu. That requires a different company. And my understanding is if you own a company that can do business in Vanuatu, a certain % of employees must be Ni-Van.

http://www.pkfvanuatu.com.vu/intservices.html
http://www.bdovanuatu.com/

Efate is definitely the business part of Vanuatu from what I understand. All the Embassies and big companies are located there. It makes for extemely lucrative returns on rental property.

 

[GreenTreeFrog]

Is that picture taken looking over Tassiriki toward the entrance to Erakor Lagoon?

 

[BoatBoy]

Is that picture taken looking over Tassiriki toward the entrance to Erakor Lagoon?

That it is.

"Efate is definitely the business part of Vanuatu from what I understand. All the Embassies and big companies are located there. It makes for extemely lucrative returns on rental property."

Saw great places while there, with return's better than some Oz mining areas, and if somehow they can be done tax free as well............

BB

 

[GreenTreeFrog]

Saw great places while there, with return's better than some Oz mining areas, and if somehow they can be done tax free as well............

That they can with the right structuring of a company.

My house in Vanuatu is in Tassiriki at this end of the lagoon in that photo.

I read your links - sounds like a great trip! Was there much business or development happening in Luganville?

 

[BoatBoy]

"Was there much business or development happening in Luganville?"
Have to be honest, most of the veiwing was water based, with only a couple of hour stop in town waiting for some gear.

Never made it past the "Nemo Nakamahl's" beckoning Tusker's and a few shell's.

All looked increadibly quiet, Ghost town quiet, just how I like it, as a spot to run away to, but not good for a rental.

A few nice ocean view's being snapped up and a few block's in a new subbie on the island opposite, but no power or water there, and from what I gathered the developer may have upset the traditional owner's as well.

But Good Cylone Hole's for us boaty type's, Bokissa Is and a slipway close by, and of course Big Bay and the Bank's and Torres groups close by.

Anyway, haven't you heard ........Ossama Bin Laden lives in Yasur on Tanna.

That's pretty close to Efate.


BB

 

[gooram]

I have recently spent some time in Doha, Qatar, which is very similar to Dubai in that the culture is quite open and becoming more and more westernised, the country is very rich and there is massive amounts of development going on.
I didn't spend any time in Dubai other than the airport, but speaking to locals, Doha is about 10 years behind Dubai. The country has huge amounts of natural resources and is going through a mining boom. Foreign workers, mostly from the subcontinent are pouring in and there is not enough housing for them all. Rents are through the roof. The city is a construction site, and only recently, there is some scheme in place for foreigners to buy land. I would say that is where the real money is, but short term there would be good returns on apartments I would say. Don't have any figures I'm sorry.
In Qatar for example, they have just (well within the last 10 years) discovered a gas field with enough gas supply for 200 years. One particular gas plant I visited has 10,000 workers, Shell is just about to build another which will required 45,000! So your investment will be safe for some time.

 

[TheCamel]

You certainly don't have to be a Ni-Van to own an International Company based in Vanuatu. You can open one today and structure it so YOU can't be traced to it if you are so inclined - which I am not (just for the record!).

Ahh,, but, can it be setup so the Coy. can't be traced to YOU ?

(namely, if the company buys property in australia, can someone establish that I own that property, or hold control of it ?

 

[GreenTreeFrog]

Yep.

http://www.pkfvanuatu.com.vu/assetprotection.html

 

[Milan]

Dubai property ownership laws changed about 4 years ago (just when I left the place - I was there 4 and a half years) and since then the property market has been running hot. Rents which were very high when I was there have almost doubled in that time since. Friends of mine there are paying less in mortgage than rent would be.

True there are many many high rise developments but also more and more villa type properties available for purchace spreading along the coast towards Abu Dhabi. Country seems to have gone nuts over golf course developments too. Sounds familiar.

It is a crazy place however, and never assume that if you buy property there, that it intitles you to any rights. Thats one thing the UAE nationals keep very tight control over.

Do your research thoroughly.

M

 

[django21]

Milan,
I left a little before you and spent a few years Dubai. I would be very hesitant to invest there as I consider the stability very fragile(only my own opinion). Rules for expats changed on a weekly basis.
Great place to spend a few years as an expat, but I would not buy anything I could not pick up and leave with.
A similar surge ( though proportiontely less) was experienced in the mid eighties only to lead to recession. And heaps of fly by night cowboys are in abundance. Sure they are not liberal with citizenship, but that creates a haven for shonky operators.
Having said that , I have been in commodities and currencies and if you re looking for a good bargain and can handle risk, that's where it (might) be at!!! But there are other safer pastures. If I were gambling, maybe, but if I were investing....

 

[SaudiJen]

GTF,

I live in the Middle East and went to Dubai for a holiday in January. I personally would not buy there, although some friends I work with have done so (more than 12 months ago). There are thousands and thousands of apartments in various stages of construction, in Dubai and nearby Sharjah. Would have been okay if you'd bought a few years ago, but overpriced now, and not just housing. It is very popular with Brits/Russians/Europeans, but there just seems to be a large oversupply of apartments/developments.

Jen