Good day,
I was interested in purchasing investment property via a family corporation. I am a Canadian citizen but the rest of my family are non-resident Canadians.
Now my main question is, should we set up a local corporation in Canada to purchase real estate (with me being majority shareholder) or should we set up an offshore company to purchase real estate. I am in no way attempting to do any sort of tax evasion. I simply want to know if the taxes and costs to the corporation will be higher if we set up local or offshore and what complications arise from using an offshore company. Any reply would be much appreciated.
I was interested in purchasing investment property via a family corporation. I am a Canadian citizen but the rest of my family are non-resident Canadians.
Now my main question is, should we set up a local corporation in Canada to purchase real estate (with me being majority shareholder) or should we set up an offshore company to purchase real estate. I am in no way attempting to do any sort of tax evasion. I simply want to know if the taxes and costs to the corporation will be higher if we set up local or offshore and what complications arise from using an offshore company. Any reply would be much appreciated.
