Legal advice in connection with the acquisition of luxury assets
In addition to the firm’s expertise in Superyachts and Aviation, Bargate Murray also provides legal advice in connection with other classes of luxury assets, such as fine art and classic cars. The acquisition of a luxury asset can raise a host of issues, including in relation to taxation and how the ownership of an asset is structured. Every transaction is different and Bargate Murray adapts its advice according to the specific circumstances of each client.
There is often an international element in relation to the acquisition of luxury assets and we are well versed in coordinating advice across several jurisdictions. We regularly use our experience in matters arising in one asset class to better inform our work in others.
Recent transactions with which we have been involved include a contract negotiation in respect of a private island hire, tax advice in connection with the import of various works of fine art belonging to a UHNW owner and acting for the owner of a classic motor car regarding a carriage dispute.
Our experience includes:
- The acquisition and disposal of luxury items
- Dealing with how the ownership of a luxury asset is structured
- Taxation issues in relation to luxury assets
- Luxury items such as fine art, classic cars, wine
- Dealing with collectable items such as stamps, coins, memorabilia and jewellery
- International aspects of luxury asset ownership across multiple jurisdictions