Transfer International Property into Trust

Discussion in 'Legal Issues' started by K168, 3rd Jun, 2021.

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  1. K168

    K168 Well-Known Member

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    Anyone know of a local lawyer/accountant in Melbourne that is able to help with the transfer of a commercial property in Fiji to an Australian trust account.

    I've called around and so far looking like I have to find one in Fiji to do this.
     
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Is this even permitted, via your accountant?
     
  3. K168

    K168 Well-Known Member

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    Some accountants will manage full service and find the conveyancer/solicitor for local.
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Do you want it effective under Australian law or Fijian?
    Who owns it now?
     
  5. K168

    K168 Well-Known Member

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    Easier if it's under Australian law so it can be managed here. Would use Fijian trust as last resort. Currently owned under individual, trying to transfer out to remove name ownership.
     
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You would just need to get an Australia trustee and transfer title to it. This could be an Australian company if foreign companies could legally own land that.
    It would trigger CGT here if the current owner is an Australian resident and lots of other complex tax and legal issues to consider.
    .Current owner could also make a declaration of trust that they now hold it on ttrust for the trustee of the Australian trust.