Real Estate

The use of an SCI to acquire property in France

By Prof. Robert Anthony

An SCI (Société Civile Immobilière) is frequently used as a means to acquire property in France, and is appropriate for both French fiscal residents just as it is for non-residents. A "société civile immobilière" is a civil company having by definition its registered office in France, for it to then acquire property. The SCI, being a civil company, is owned by 'associates' who, in the majority of cases, are members of the family, so indicating that the overall ownership of these SCIs is affected by private individuals.

UK Property - Firm Foundations

By Paul Simmons, Haines Watts

Does UK property still present a path to robust returns for investors in 2015? Can the UK property growth seen in recent years be sustained? Property still features strongly in the UK pension and investment portfolios of business owners, but there’s one word upon which this sector’s growth hangs – stability.

UK residential property – major changes for non-UK resident investors

By Graham Busch, Lawrence Grant Chartered Accountants
and Nick Brennan, Citroen Wells Chartered Accountants

Recent proposals and enactments change the UK tax landscape for non-UK residents investing in UK residential property. The changes do not apply to commercial property.

Undiscovered risks of long lasting rental agreements

By Dr. Angelika Baumhof & Christian Pflaeger, Jakoby Dr Baumhof

Estate operators often conclude long-term rental contracts, which easily can exceed 30 years, to build wind farms or golf courses. Risks under German law are often overlooked. How can this be avoided?

What are the consequences of buying a property in France?

P1040987 a 635

By Prof. Robert Anthony and Dr. Michael Annett, Anthony & Cie.

When considering the purchase of property in France, it is important to be aware that property ownership will have consequences under French inheritance laws, and can generate French inheritance tax, capital gains tax, income tax, social charges and wealth tax liabilities. In specific cases, typically new builds, VAT at 19.6%, is also a factor to be considered as this is applied to the purchase of new and relatively new French property1, although this VAT can be claimed back under certain conditions2.

What are the consequences of buying a property in France? Focus on French inheritance tax

by Prof. Robert Anthony and Dr. Michael Annett, Anthony & Cie

In the last articlewe provided an introduction to the consequences of buying a property in France. Here we continue our analysis of the consequences of buying a property in France by developing the topic of French inheritance tax: France offers several options as to how property can be held, as property does not simply have to be owned directly in the names of the purchasers. It is also possible to own property through a French civil or commercial company. However, ownership of a French property by a commercial company can lead to financial nightmares, the issues relating to which invariably require the ownership to be restructured1.

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