通过马恩岛投资商业地产
ONE DAY, YOU’LL MAKE A DREAM COME TRUE.
Department for Enterprise, St George’s Court, Upper Church Street, Douglas, Isle of Man IM1 1EX
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为何通过马恩岛？ 通过马恩岛投资商业地产: 通过“特殊目的公司”（SPV）获取所有权 在出售SPV股份时无任何土地印花税（ Stamp Duty Land Tax， SDLT） 因为SPV可以注册增值税VAT（20%）账户，因此该架构无 VAT损失 0%的企业所得税、资本收益税（ Capital Gains Tax，CGT） 或预扣税（ Withholding Tax） 拥有大量的专业人员及经验丰富的管理团队 马恩岛银行为此类项目提供各种支持服务，如提供贷款
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增值税VAT的比较 商业地产 已注册VAT账户
未注册VAT 账户
购买时
•如果该地产是在被认定为“新建筑”后3 年以内购买的、或该地产已经选择入税， 则VAT可回收 •如果是购买一个“业务”，则“转让持续 经营业务”（TOGC）条款可应用。所有的 后续购买者必须选择将土地或建筑入税才 可获准使用该条款
•如果该地产是在被认定为 “新建筑”后3年以内购买 的、或该地产已经选择入 税，则损失VAT
地产开发阶段
•所有发生的专业服务费、建筑及相关成本 （假定生成应税给付）所涉及的VAT皆可 回收 •向英国HMRC或马恩岛海关及征税署支付 VAT •VAT合规成本
•专业服务费、建筑及相关 成本的VAT不可回收 •租金收入无VAT •无VAT合规成本
出售时
•基于出售的价格支付VAT。如构成购买租 赁“业务”且买卖双方皆选择入税，则可 应用TOGC条款
•出售地产时无VAT（无法应 用TOGC条款）
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新的所有权架构 客户现有的企 业架构
0%
步骤5. 股利 /分配
100% 步骤1. 贷款
税费
马恩岛SPV 步骤4. 还款
20%
步骤3. 收入
步骤2. 购买（SDLT）
商业地产
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银行或其他融 资机构
案例 伦敦的10 Trinity Square由KOP Properties及一家北 京地产投资集团—— 华彬集团重新开发 成45万平方英尺的 住宅休闲场所
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案例 2011年高盛伦敦 总部大楼的部分 被华人置业集团 以2.8亿英镑收购。
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谢谢
问题？
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ONE DAY, YOU’LL MAKE A DREAM COME TRUE.
Department for Enterprise, St George’s Court, Upper Church Street, Douglas, Isle of Man IM1 1EX
www.locate.im
Investing in UK Commercial Property through the Isle of Man
ONE DAY, YOU’LL MAKE A DREAM COME TRUE.
Department for Enterprise, St George’s Court, Upper Church Street, Douglas, Isle of Man IM1 1EX
www.locate.im
Why the Isle of Man? Investing in commercial property through the IOM: Ownership via Special Purpose Vehicles (SPV) No Stamp Duty Land Tax on sale of share in an SPV No Value Added Tax (VAT) leakage from structure as SPV can register for VAT (20%) 0% corporate tax, Capital Gains Tax or Withholding Tax Depth of professional & experienced management teams IOM banks support property offerings eg lending
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Value Added Tax (VAT) Comparison Commercial Property On purchase
VAT Registered
Non VAT Registered
VAT reclaim if purchased within 3 years of being “new” or, if property opted to tax . Transfer of a Going Concern (TOGC) if buying the ‘business’. Each subsequent purchaser must opt to tax the land/buildings to obtain above.
Suffer VAT if bought within 3 years of it being “new”, or if property opted to tax.
Development stage Reclaim VAT on costs incurred for all professional fees and construction and related costs, assuming that taxable supplies will be made.
No VAT recovery on professional fees, construction or related costs.
No VAT on rental income.
On sale
Pay VAT collected to HMRC (UK)/C&E (IOM). Compliance costs for this.
No VAT compliance costs.
Charge VAT on sale price of property. TOGC if rental ‘business’ is purchased and both the seller and purchaser have opted to tax.
No VAT charged on sale of property. (Unable to utilise TOGC provisions)
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Ownership structures - New Existing Client Corporate Structure
0%
Step 5 Dividends /distribution
100% Step 1. loan
Tax
IOM SPV
20%
Step 3 Income
Step 4 repayment Step 2. Purchase (SDLT )
Commercial Property
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Bank/finance provider
Examples Redevelopment of 10 Trinity Square by KOP Properties and Beijing-based investment group Reignwood into 450,000sq ft of residential & leisure space
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Examples Isle of Man structures used to acquire part of Goldman Sachs Inc’s London HQ by Chinese Estate Holdings Ltd for £280m in 2011
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Thank you
Are there any questions?
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ONE DAY, YOU’LL MAKE A DREAM COME TRUE.
Department for Enterprise, St George’s Court, Upper Church Street, Douglas, Isle of Man IM1 1EX
www.locate.im