Transfer UK residential property out of a BVI company

Transferring UK residential property out of a British Virgin Islands company involves the legal process of moving ownership of a property currently held by the BVI entity to a different owner or structure.

Valuation of Property: The property needs to be valued.

Transfer Documentation: Legal documents, transfer deeds and sale agreements must be prepared.

Tax Considerations: Transferring property out of a BVI company may trigger UK taxes such as:

Stamp Duty Land Tax (SDLT): Paid by the buyer, based on the property value.

Capital Gains Tax (CGT): If the property has increased in value, the BVI company may owe CGT.

Annual Tax on Enveloped Dwellings (ATED): This may apply if the property is valued above a certain threshold and held by a corporate entity.

Ownership Restructuring: Once the property is de-enveloped, it can be placed in a personal name or a company

Compliance: The transfer must comply with UK laws governing property ownership and international regulations related to offshore entities.