I recently signed papers to purchase a condo. I am being advised to put the property in a corporation, as this will have advantages when selling the property under Law 158-01 (Confotur). I was told if I wanted to sell the property, I could just sell the corporation and the new owner would not have to pay the 3% transfer tax and would retain the exemption of paying property taxes for the 15 year period. I am single and only have 1 heir. My question is if I die, would my heir have to pay inheritance taxes when she inherits the corporation or can I just sign over the corporation before I die and avoid the taxes.
The next question is can I put this property in a US corporation that is duly registered in the DR and still receive the benefits of Law 158-01. This might make my tax reporting requirements easier in the US as well as the transfer of the corporation upon my death.
I am willing to pay for sound legal advise that makes everything easier during the remainder of my life and for my heir.
Sluggo
The next question is can I put this property in a US corporation that is duly registered in the DR and still receive the benefits of Law 158-01. This might make my tax reporting requirements easier in the US as well as the transfer of the corporation upon my death.
I am willing to pay for sound legal advise that makes everything easier during the remainder of my life and for my heir.
Sluggo