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We have a client (SMSF) intending to purchase property in Dubai under LRBA. The loan also being from Dubai based institution. Can the trustees acquire the property and the loan in their personal name? and provide a declaration of trust for audit purpose confirming that the said acquisitions are on behalf of the SMSF? If this is not permitted what are the ways to acquire such property? Can the trustees set up an entity in Dubai, be the 100% owners of such entities, acquire the property and loan and show investment in the entity in superfund financials.
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Hi There, If I can get help for this that would be great. As this is quite urgent.
Many thanks in advance.
Mihir Dhanesha