UK Property Co and Buying Abroad
I am considering expanding the property portfolio in my UK based Limited Company.
I currently live in Portugal and rental properties are in high demand here.
Property prices are dropping slightly at the moment and I was wondering if it would be possible for my Limited Company to purchase a property in Portugal.
The company would need to have a mortgage in order to make any possible purchase.
Does anyone know if:
1. A UK based limited company can purchase property abroad?
2. Can a limited company borrow money to make the purchase?
Thanks
Louise
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Member Since August 2020 - Comments: 3
11:28 AM, 11th July 2024, About 2 years ago
Reply to the comment left by Mark Alexander – Founder of Property118 at 11/07/2024 – 10:47
Does Edwina deal with Portuguese tax as well?
Member Since January 2023 - Comments: 142
12:36 PM, 11th July 2024, About 2 years ago
Reply to the comment left by Ryan Stevens at 11/07/2024 – 10:43
its worked out rather well for us in the USA. Timing is everything. When we started buying there were three million homes in various stages of foreclosure.
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:42 PM, 11th July 2024, About 2 years ago
Reply to the comment left by Louise P at 11/07/2024 – 11:28
Edwina is not an Accountant but she did introduce me to a good one in Lagoa.
I live at Boa Vista so Luz is actually my nearest beach. We go there regularly. I have relatives staying with me until next Wednesday but I’m happy to meet up any evening next Thursday onwards as I’m ’home alone’ whilst my wife is visiting relatives until the end of this month.
Member Since January 2011 - Comments: 12193 - Articles: 1395
12:43 PM, 11th July 2024, About 2 years ago
Reply to the comment left by Louise P at 11/07/2024 – 11:28
PS – I think the idea of forming a subsidiary company in Portugal is well worth further investigation.
Member Since August 2021 - Comments: 39
9:00 PM, 11th July 2024, About 2 years ago
Hi Mark
You used to favour Malta I would be grateful to have your views on Malta versus Portugal in order to live there ,
I will be keeping a few properties in the UK twenty flats and six. student houses,7 ,8and 9 bed
But have already sold all the rest of the portfolio
Also in your opinion is rental property better in Portugal or Malta either long term or holiday/SA lets
Thank you in advance
tony altman
Member Since January 2011 - Comments: 12193 - Articles: 1395
9:16 PM, 11th July 2024, About 2 years ago
Reply to the comment left by anthony altman at 11/07/2024 – 21:00
The short version is that both are fantastic Countries but we fancied a change.
Rental yields are far better in Portugal but we have never invested here or in Malta.
Member Since August 2021 - Comments: 39
10:44 PM, 11th July 2024, About 2 years ago
Thank you for your response Mark much appreciated we were leaning towards Portugal , we have been looking at areas from Algarve to Arganil we quite like Coimbra
Member Since January 2011 - Comments: 12193 - Articles: 1395
11:16 PM, 11th July 2024, About 2 years ago
Also have a look at Tomar which was built by the Knights Templars after they got kicked out of Malta. That was also a serious contender for us and the prices are around half of the Algarve so you get a lot more property for your money.
We settled on Lagos because we have so many friends here and we wanted to be closer to the sea. We also fell in love with the beaches at Luz and Lagos. It’s also much cooler here in the evenings from the wind off the Atlantic.
Member Since August 2021 - Comments: 39
1:45 PM, 14th July 2024, About 2 years ago
Thanks Mark
I will have a look at Tomar
Regards
tony