# Canadian Company Purchases US Timeshare



## c-lindsay (Jul 17, 2010)

Dose anyone know if a Canadian Corp can buy a US Timeshare?  Do the Starwoods and Marriotts of the world allow this.  Are there any extra implications?


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## bankr63 (Jul 19, 2010)

*Get professional help...*

IMO, probably yes, I see no reason why a Canadian Corp couldn't hold US real estate.  US Corporations can, and Canadian individuals can, so I don't see why legally incorporated Canadian entities cannot.  

HOWEVER, I would seek sound specific legal and tax advice!  I know there are tax implications on both sides of the border that need to be considered (for both individuals and companies). I have a hard enough time understanding my business CT1 filings with the help of a really good accountant, and my corp isn't particularly complex.  Can't imagine wanting to trigger additional US corporate filings as well.  Even though timeshares are cheap, they are still considered real property, and you could potentially trigger some negative (or possibly positive) tax consequences by holding inside of a corporation.  Maybe you can even spend some time visiting with Conrad Black if you're not careful


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## caribbeansun (Jul 20, 2010)

A Canadian corp can buy a US based timeshare.

Just be aware that if you intend on using it for personal use, as opposed to for business purposes, then you have a personal asset in a corp which will trigger a taxable benefit to the shareholder(s).  Typically the taxable benefit results in a cost that doesn't justify holding such a personal asset in a corporation.

I won't comment on the potential for creating a US tax issue as it's beyond my area of knowledge.


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## bankr63 (Jul 20, 2010)

Scratch the Conrad Black comment, I see they let him out on bail again...

http://ca.news.yahoo.com/s/capress/100720/national/conrad_black_bail


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