Lautrec Posted August 5, 2006 Share Posted August 5, 2006 Please, could anyone please explain, or refer me to information regarding buying a house jointly as a Company! Link to comment Share on other sites More sharing options...
Llwyncelyn Posted August 6, 2006 Share Posted August 6, 2006 Whilst this has been handled before and thus available on the forum I suppose the best advice (in view of the changing position here in France) is to take professional advice!On a personal note I have friends in the Lot y Garonne who are in some form of mess having bought under a SCI. That is not to say it is not a sensible way to do so but equally they have problems and which I think is something to do with tax and the fact that they have children from previous marriages and that the tax people are saying they have a benefit in kind spending as they do some 180 days in France each and every year. Link to comment Share on other sites More sharing options...
Will Posted August 6, 2006 Share Posted August 6, 2006 You will find an article here http://www.bllaw.co.uk/content/our_services/french_team/news/n970_4.pdf - I can't speak for its accuracy or currency, but the source is generally pretty reliable.In general an SCI seems to work best when several people (not blood relatives) buy together. Under other circumstances its value is somewhat limited when you become French resident. It is often used by non-French residents, for holiday homes etc, but as Llwyncelyn says, it has tax implications - particularly if renting it out. There are also potential UK capital gains tax difficulties when selling. Link to comment Share on other sites More sharing options...
Anton Redman Posted August 6, 2006 Share Posted August 6, 2006 The best source I have read on the taxation implication of the various ways on owning property in France is 'Taxation in France -2004 A foreign Perspective" Charles Parkinson PKF ISBN 0 95434902. Summary above is pretty clear Link to comment Share on other sites More sharing options...
Tony F Dordogne Posted August 6, 2006 Share Posted August 6, 2006 We have friends who bought through an SCI and now they are trying to sell, it's a nightmare - lots of things which were short term gains and benefits are now serious obstacles to their plans for the future.Definately get professional advice and also keep up with the advice so you don't get tripped up as they have been. Link to comment Share on other sites More sharing options...
Lautrec Posted August 6, 2006 Author Share Posted August 6, 2006 Thank you all for your info, which is very useful.Lautrec Link to comment Share on other sites More sharing options...
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