#realestate #taxstructuring
Mortgage via BV, bank or own funds: which is more efficient?
This calculator compares the tax efficiency of three ways to acquire residential property in the Netherlands (Box 1):
- — using personal fundsWhen acquiring property using your own funds, you effectively shift your assets from Box 3 (savings) to Box 1 (primary residence).
- — bank mortgage, with capital remaining in Box 3When financing the property through a bank mortgage, your savings remain in Box 3, while you acquire an asset in Box 1. At the same time, mortgage interest may be deductible..
- — financing through your own BVWhen financing the acquisition through your own BV, capital is first contributed to the company (Box 2), after which the BV provides a loan. You repay both principal and interest to the BV. Interest is deductible at the personal level (Box 1) and received as income by the BV, where it is taxed at the corporate level (VPB) after costs. The resulting profit can either be retained within the BV or distributed efficiently, for example through capital repayment within the limits of the initial contribution.
Buying your residence with:
savings, bank- or BV-loan?
savings, bank- or BV-loan?
Input parameters
€ 1 000 000
€ 1 000 000
4,00 %
4,00 %
1,28 %
€ 4 000
2026
Scenario comparison
Interpretation
Key value drivers
Tax arbitrage mechanism
Sensitivity analysis
Structural risk factors
How to read the result
1
Purchase without mortgage
The property is acquired using personal savings. This reduces exposure to Box 3 but eliminates Box 1 interest deductibility (e.g. against your salary income).
2
Bank mortgage
Financing is obtained through a bank, while capital remains in Box 3. The outcome depends on the spread between investment return and mortgage interest.
3
Mortgage via own BV
You contribute capital to your BV (which can be repaid tax-free) and have the BV provide you with a mortgage loan. Interest is deductible in Box 1 at a rate of 37.56%, while at the BV level it is taxed at the corporate rate (VPB) of 19%. This creates a tax arbitrage between the personal level and the BV.
What drives the result?
A higher interest rate increases the value of interest deductibility and amplifies the effect of BV structuring.
Lower returns in Box 3 and transition to taxation of (un)realized Box 3 returns in 2028 reduce the attractiveness of keeping capital privately invested.
The difference between Box 1 relief and corporate tax (VPB) is a primary driver of the outcome.
Administrative and compliance costs reduce the net benefit of the BV structure.
When the calculator is not enough?
The calculator provides direction, but in certain situations a tailored analysis is required.
This is typically the case if:
This is typically the case if:
- the property is acquired through an existing BV that holds other income or assets
- multiple real estate assets are planned
- multiple real estate assets are planned
- the property is acquired through an international structure
- optimisation of dividend policy is required
This calculation is indicative and intended for initial analysis.
It assumes:
— standard tax rates
— no individual rulings or specific arrangements
— stable financing conditions
— extraction of BV profits through capital repayment
Actual outcomes may vary depending on the structure.
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