During the establishment of an IKE (Private Company), SA (Sosiete Anonyme), or NEPA (Shipping Company for Recreation Crafts), it often happens that one of the partners or shareholders wants to contribute assets, usually real estate or a yacht, instead of cash (in-kind contributions). In cases of in-kind contributions, an assessment report of the commercial value of these assets is required. Aegean Consulting fully undertakes the preparation of the valuation report for all assets with the purpose of their contribution to IKE, SA, or NEPA.
A similar situation may occur when assets such as real estate, vessels, or other property are contributed with the aim of increasing the company’s share capital. In cases of contributions of assets for the purpose of capital increase, Capital Concentration Tax is imposed on the value determined by the assessment report.
The contribution of real estate to the capital of IKE, SA, or NEPA is mandatory and requires the drafting of a notarial document after the payment of a 3% property transfer tax, which is also calculated based on the property’s value as determined by the assessment report, which is typically higher than the objective value.
Additionally, for the contribution of real estate, it should be noted that it involves a property transfer, which means that the property must be fully regularized, and a complete file for the property to be contributed must exist (e.g., electronic property identity, etc.).
Article written by Christos Triantafyllopoulos
Founder & CEO of Aegean Consulting
The above text is for informational purposes only and it does not substitute specialized advice
