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Taxation and Economy
Information from our notary partner – Wealth tax (IFI)
Purchase and ownership of a property in France by non-French tax residents. Wealth Tax (“IFI”) This tax applies to the net value of any real estate asset owned in France by non-French tax residents. In the case of ownership of French real estate(s) through the medium of a company, this tax applies to the proportion of the value of the shares furthe [more]
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Information from our notary partner – Property Transfer Taxes
Information from our partner notary Purchase and ownership of a property in France by non-french tax residents Property Transfer taxes Purchase of the property In all cases (individual or corporate purchaser), the sale of the property is subject to: – Transfer duties to be paid by the purchaser at the rate of 5,81% (notably in Alpes Ma [more]
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Changes in the regulations for obtaining a certificate of fiscal residence in Monaco
The Ordonnance Souveraine N° 8.566 of 28 March 1986 relating to the certificate of residence was recently amended by a new Sovereign Order N° 8.372 dated 26 November 2020. Order N° 8.566 now distinguishes the nature of the requests for the issuance of a residence certificate that must be made to the Public Security Directorate. Thus, the formalitie [more]
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Wealth Tax (“IFI”)
This tax applies to the net value of any real estate asset owned in France by non-French tax residents. In the case of ownership of French real estate(s) through the medium of a company, this tax applies to the proportion of the value of the shares further to the property ratio out of the full company’s assets (i.e. French real estate property / d [more]
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Property purchase in France and Transfer taxes
Purchase of the property: in all cases (individual or corporate purchaser), the sale of the property is subject to: Transfer duties to be paid by the purchaser at the rate of 5,81% (notably in Alpes Maritimes department) of the price, OR, rarely to: VAT at the rate of 20,00%, included in the sale price and to be paid by the seller, in case the ...
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Taxation applicable to the disposal of real estate in France through a company
The SCI (Société Civile Immobilière) is often presented for its governance advantages when acquiring a property. While it is naturally subject to income tax, it is also possible to prefer the french corporate income tax regime, both regimes having advantages and disadvantages. Through a SCI Firstly, with regard to the SCI subject to income tax, it [more]
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Brexit: what will be the tax treatment of real estate capital gains made in France by British residents ?
At midnight on January 31 2020, the United Kingdom officially withdrew from the European Union. A transition period has therefore begun and should continue until December 31 2020 in order to draw the future relationship between the United Kingdom and Europe. It is only at the end of this transition period that European Union law will cease to apply [more]
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Investment in France by foreigners or non-residents: what the French Notary can do for you
The Notary’s assistance is crucial to allow a safe transfer of ownership and also for the client’s guidance: to determine the most adapted structure to purchase a property and the capacity to understand different cultures and psychological aspects. A Notary and a Lawyer with such understanding will bring that “plus” making the transactio [more]
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French Real estate market : who have been the foreigners investing in France in 2018 ?
Non-resident foreigners, residents and French expatriates acquired more than 17.7 billion euros of real estate indicates the presentation of BNP Paribas International Buyers, in the 11th edition of its Observatory of the market for property buyers in France. A market that grew in 2018 (+6%), particularly for resident foreigners (+8%). A market that [more]
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The new law on real estate capital gains taxation
Since January 1st 2019, the sale of real estate located in France by persons covered by the social security system of a State of the European Union, the European Economic Area or Switzerland and who is not covered by a compulsory French social security regime is now exempt from « CSG » and « CRDS » on capital gains. In France, taxation on real esta [more]
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The sole agent sales mandate: the buyer’s winning advantage
Luxury real estate on the Côte d’Azur, is more and more marketed by using a sole agent sales mandate. A system unanimously adopted in the Anglo-Saxon countries, and which is popular with buyers who already have international real estate experience. As opposed to what some sellers believe, by multiplying the number of properties put up for sal [more]
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Exclusive Mandate: more efficient for the sale of my house?
A seller who decides to use an agency for the sale of his property has the choice to sign a simple mandate or an exclusive mandate. We are talking about an exclusive mandate when only one single agency has the right to present a potential buyer. This implies that the sale cannot be concluded without the intermediary of the agency. What is the poin [more]
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Last will and testament : different types
Writing down your will not only allows you to organize your inheritance but also to express your last wishes. Writing a will is a voluntary act and allows you to bequeath all of what is in your possession, movable and immovable property, money etc. to the people of your choice. To write a testament, the protestor; the author of the will and testame [more]
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List of compulsory documents to be remitted for the sale of a property
You want to know the list of compulsory documents to be remitted for the sale of property ? Haussmann Real Estate give you all the answer. Your title deed Documents related to eventual works: planning permission, work declaration, plans, insurance related to works, declaration of works achievement, conformity certificate Name and address of your no [more]
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List of compulsory documents to be remitted for the sale of an apartment in a Condominium
You want to know the list of compulsory documents to be remitted for the sale of an apartment in a condominium ? Haussmann Real Estate give you the answer. List of compulsory documents : Condominium rules and division description and their eventual modification published at the mortgage registry Minutes of General Meetings of the last 3 years The c [more]
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The French notary’s role
Investment in France by a non-resident Real estate investment in France, particularly on the Riviera, is historically and economically very attractive: solid values, profitability, political and economic stability. Values are particularly strong in prestigious areas sought after by overseas clients: Close and around the Principality of Monaco, Sain [more]
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International Successions
Since the 1th of August 2015 new European rules are applicable in order to simplify international successions, with the aim to allow them to be treated with less delays and more efficiency. Before that date trans-borders succession were often governed by different laws. If a French citizen owned a flat in Berlin, it was necessary to open, after his [more]
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What is a notary?
The term “Notary” refers to a public officer who is responsible for the authenticity of the acts they compose. A liberal professional who completes multiple assignments. In such, they play the role of council to businesses and individuals: they give out advice in order to better protect the interests of these different actors in various [more]
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The differences between SCI in Monaco and in France
The SCI, as part of property investment companies, is a legal form offering several benefits. In France and in French over-seas departments it is created by a natural and legal entity regardless of nationality. However there are notable differences between investment companies in Monaco and in France. This article aims to show how they differ in Mo [more]
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France is an excellent choice of investment for non-residents
In recent times France has had a poor reputation with non-residential investors in property. They are suspicious of the French property market because of negative opinions chiefly from foreign media. In fact, according to comparative fiscal studies, France has risen to the best place among the most attractive countries regarding tax and regulation [more]
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