Companies are great entities for a group of people that want to come together with an aim of building a property portfolio #LegacyOnlineCourse
Companies are registered in accordance with the Companies Act of 2008, which allows for four types of companies to be registered namely, private, public, personal liability and state-owned companies.
For most investors, a private company is the first choice and contrary to previous legislation is now no longer limited to 50 members. Property is purchased in the name of the company and similarly the bonds or finance registered against the property. Before September 2012, it was possible for a buyer to purchase a company together with the property it owned, thus paying no transfer duty and other costs. However, this was amended and since December 2002 all agreements relating to the sale of shares in a company attracts transfer duty.
To learn more about the benefits of using a company entity in your property investment journey be sure to attend the amazing online property investment course.
Your learning will include:
- How to Form a Company
- Parties needed in Formation of a Company
- Benefits of Owning a Property in a Company