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buying property through limited Company

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  • 14-03-2024 6:22pm
    #1
    garysharpe
    Registered Users Posts: 12 ✭


    Hi all, I own and I am single director of a trading Company that is cash rich. I plan to buy an investment property but instead of using this trading Company I will set up a new Company and make a loan for the value of the property to the trading Company so my asset will more secured from creditors and even Revenue inspections in this new Company. Is it possible or because the new Company will have "connections" to the other Company Revenue will be able to access the new asset in case of inspecting the trading Company? Many thanks for the advices.

    Gary



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    #2
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,993 Mod ✭✭✭✭Jim2007


    Seek proper legal and financial advice. Bottom line if you deliberately attempt to put assets beyond the reach of your creditors it will be reversed.



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    #3
    garysharpe
    Registered Users Posts: 12 ✭garysharpe


    Who can reverse that action? If it is well before any claim from creditors is requested the same would apply?



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    #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 9,993 Mod ✭✭✭✭Jim2007


    As I said seek proper legal advice, I'm not in the business of advising people on how to commit fraud.



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    #5
    garysharpe
    Registered Users Posts: 12 ✭garysharpe


    Hi Jim, why do you think it is fraud? Many thanks,



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