Property purchased by UK LTD company

[Josh]

I have transferred funds to purchase a property in Tanger in my company name. When we went to sign the take-over, the Moroccan Notary would not accept the company name on the title deed as we do not have a registered company (SARL) in Morocco.

We have transferred the funds for the purchase of the apartment to the developer, via our solicitor in Spain. If the funds have come from the Limited company, how will it help to have a Moroccan SARL? What name do we put on the title deeds? If we use the Moroccan SARL, then the foreign funds have arrived via the Ltd for the purchase and leave on a future sale via the SARL. The Moroccan Tax Authuroties may not allow the expatriation of funds saying that these two organisations are not the same.

Any thoughts or suggestions?

 

[fidubel trust]

You simply need to create à branch to your ltd company in Morocco having the same name as the UK one. The procedure is simplified than if you would create a new company then you CAN purchase the property on the company's name