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In Honduras, foreigners can't own more than 3/4 acre of property. The way around this is to have a corporation own the property, and you own the corporation.
by tomfakes 16y ago
In Honduras, foreigners can't own more than 3/4 acre of property. The way around this is to have a corporation own the property, and you own the corporation. The system is setup for this purpose.
Even smaller properties are owned by corporations to make the paperwork easy, and to avoid the same types of taxes.
The downside is that mortgages aren't available for buying corporations, so financing is trickier
- r00fus 16y agoI know someone who did this same type of thing in Panama, except even the corporation can't be majority controlled by foreigners. So the Board of Directors of the proxy corporation is a bunch of locals who are paid to essentially quit at the behest of the foreign owner.