Syndic & Co-Proprieties

The following explains the responsibilities of the owners and elected management of a building owned jointly by individual owners of apartments within the building.

French law defines in great detail both the rights of apartment owners within a Co-Propriété - a residence or immobilier or building split into separate and physically distinct apartments - as well as their responsibilities to other owners. These are detailed in the volume of rules and regulations that each owner should receive from the Notary at the same time as the title to their property.

Taxes on French Property

Disclaimer
Tax and property law are complex. Every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is however intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this page should not be taken as an authoritative statement of French law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

French Tax on Residential Property

The two principal taxes on residential property are collected by the State for the benefit of the collectivités territoriales, namely the local authorities of the Région, Département and Commune.

What taxes are there?

• The principal taxes are taxe foncière
• and taxe d’habitation. Both apply to all residential property - houses and flats.
These taxes are each assessed at an individual rate voted by each collectivité territoriale. They vary in very substantial proportions from one location to another. The commune rate of tax is often higher in main towns than in suburbs or small villages. Before renting or buying a property it is therefore wise to request details from the estate agent or owner.

French Taxes

Disclaimer
Tax law is complex and every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this page should not be taken as an authoritative statement of French tax law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

Wealth Tax

French residents whose net assets exceed a certain level are liable to pay an annual wealth tax. This tax is calculated by referring to an individual’s worldwide wealth, after deduction of liabilities. However, there are exemptions for business assets and works of art, subject to the proviso that a number of specified conditions are met.

Capital Gains on Real Estate in France

Disclaimer: Tax law is complex and every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this page should not be taken as an authoritative statement of French tax law and practice. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

Tax on Capital Gains on the Sale of Property in France

The following summary states the law for gains realised after 1 January 2004 on the sale of real estate, that is land and property. For gains realised before this date the “old” law applies see French Taxes and scroll down to “Capital Gains” subject to certain transitional provisions. Bilateral and connected sales are not considered below and are subject to a different regime.

Using an SCI to purchase a property in France

A common way of buying a property in France is through the use of a Société Civile Immobilière, or SCI. The use of this method has benefits for French residents, as well as foreign residents.

Selling a property in France

If you have decided to move and sell your present French property, this page will provide a general overview of the process and the points to bear in mind when selling.

The process of buying a property

If you are looking to buy a property or have already found the property and agreed the price, then this page will provide a general guideline to the process of buying a property in France and highlight points that you should bear in mind.

Overview: Buying a property in France

In France, the process of buying a house, an apartment or land is regulated.
Before you begin looking for the property you want to own, establish whether you have enough capital for the deposit, are able to raise the finance, pay the arrangement, transaction and legal fees and afford the monthly payment which should include the mortgage payments, life assurance and building insurance

Questions on Capital Appreciation

A capital gain is the difference between the original price and the eventual sale price. The expenses of the purchase and the sale, and certain expenses incurred during the period of ownership can be deducted from the gain.

Why property in Cannes?

It is a fact of Europe today that people are demanding more and more access to sunshine, wherever they may live and work. The Cote d’Azur has superb beaches, a beautiful sea, a stunning backdrop of mountains and snow, and quaint and ancient villages boasting fabulous cuisine.