Living in France

I am writing some replies about living and working in France over on the company forum/blog at Coast and Country Blog . I can write about the trials and tribulations of living in France a zillion times and it is always a matter of priorities.

I guess the bottom line is that there are good things, bad things and sort-of ordinary things in every country. Perspectives change and your needs and dreams alter. Our picture of the UK is only what we happen to read on Google, see occasionally on television and read in some English or American papers - on balance I am very glad France is our home, not least for the weather as I seem to lose all circulation and my brain goes into limbo at anything under six degrees centigrade.

I have a host of things to write about and will put them in this blog and then syndicate those things relevant to other sites I am involved with . One of my main articles I need to get out is about the structure in France for Fractional Ownership sales of property. A few months ago a friend and I started a new site for selling Fractional Ownership at Harmony Ownership . We put on a few properties which were offered to us and since then have not done much as we have been totally wrapped up with the Coast and Country websites.

I am very glad we have “made haste slowly” as I am seeing a few other people offering sales of their villas or apartments in fractional shares. Their target market is mainly the USA as they are Americans, but they are saying that, although the property in France is owned in a properly structured French holding company, a SCI, they are selling shares though an American LLC or Homeowners Association which will avoid capital gains tax, transfer tax, wealth tax or taxation on share transfers.

This is dangerous rubbish, the French tax authorities have enormous discretionary powers and if they believe a tax is due on anything to do with property in France, they can claim it - and they will, have no doubt about it.

Not only that, but if they think someone is trying to avoid taxes in this sort of way they will consider the property as a business venture and this will also attract an extra tax on the value of the property every year.

Keep it simple, buy in a straightforward French system in a French company and if you sell or make a gain then some tax will be payable, it is the way it is in France, there is no magic law or trick to give exemption to someone from another country on a French property.

I have lots more to write about on many subjects and hopefully I will soon be able to sort out all my other commitments and get on with my newsletters and blogs.