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Looking to buy in the South of France

Big Jon
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Big Jon Newbie

Big Jon

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Hello, I'm new to the forum so apologies if this is posted in the wrong area!

I'm looking to buy a property in the South of France. Recently returned from Nice, which is beautiful, however a bit pricey!

My wife and I are looking to live in France for maybe 6 Months of the year, and spend the rest of our time in the Isle of Man where we live.

We are ideally looking for somewhere that has plenty to do, things to see, places to eat, friendly people to meet. We are 35 years old so still very active and want to make the most of our time spent in France.

Can you please advise of where the best place would be for us to start our search? We are ideally looking for a house that doesn't need any work doing to it, has a garden, possibly a pool, and 3 bedrooms.

We want to embrace the French lifestyle, and also to be kept busy with walks, water sports, possibly skiing etc...

Any advice would be great, thanks in advance!
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Sprogster Newbie

Sprogster

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Big Jon, unfortunately living in the Isle of Man and in the absence of a French double tax treaty, you would be liable to French income tax on three times the deemed annual market rental income of any French property you own or have the use of, even if the property is unlet. For those who live in jurisdictions the French deem paradis fiscal, there are additional considerations on which you should take tax advice.

Of a more general matter, property prices on the Cote D'Azur are expensive and for the type of property you describe in a good area don't expect much change for a million euros. Also make sure you visit in winter first, as most people are surprised how wet and cold the winters can be.
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Sprogster Newbie

Sprogster

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Yes unfortunately, as the problem effects any non French resident who lives in a country without a full DTA with France. Try and find a tax adviser in the Isle of Man who is conversant with Manx residents owning French property, although as far as I am aware there are no solutions other than move! Alternatively, just buy a small property to keep the liability to a minimum. Same issue effects C.I, Bermuda, etc.
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bubbles Newbie

bubbles

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We are close to Perpignan which seems to have all the activities you mention.

We have decided to move back to England now - we are missing too much family stuff back there

Our house is for sale and seems to fit all your criteria.

Please pm me for info - can't do any harm, can it?
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Sprogster Newbie

Sprogster

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Not so nomoss, as unless you are American, citizenship has no correlation to tax obligations or liabilities, as it is determined solely by residence. Residents of the Isle of Man and C.I are British Island passport holders, and these jurisdictions are outside the EU and residents of these Crown Dependent territories are therefore not EU citizens, unless born in the EU, or they have EU parents or grandparents.

The tax situation to which I referred earlier was originally brought in to target French nationals who moved to so called tax havens, but kept a property in France for their use. The problem though is that this also catches all residents of tax havens who have the use of property in France, unless overridden by a French DTA which the Isle of Man or C.I do not have.
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Quillan Newbie

Quillan

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The IOM has several dual tax agreements which include the United Kingdom so clearly it it seen by the UK as 'different'. Its not really called a dual tax agreement anymore but referred to as a TIEA. The IOM signed such an agreement with France in March 2009 and it is currently awaiting ratification and is therefore 'not in force'. For more information (from the IOM government website) use the links below.:

http://www.gov.im/treasury/incometax/sections/practitioners/internationalagreements.xml

and

http://www.gov.im/lib/docs/treasury/incometax/pdfs/InternationalAgreements/iomfrancetiea260309.pdf

So my advice to the OP would see a specialist on this issue before committing to anything or simply wait until the agreement is ratified and is 'in force'.

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Sprogster Newbie

Sprogster

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Quillan, a TIEA is a totally different animal from a double tax treaty, in that the former is merely an agreement to share tax information on request, whereas a DTA allows tax of one participating country to be offset against another. Unfortunately, France to date is unwilling to to enter into a full DTA with the crown dependent territories and was not prepared to concede the tax on notional rental income issue, despite our best efforts!
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jefflad Newbie

jefflad

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[quote user="Sprogster"]Too many members responding by offering their houses for sale, will surely put the poor guy off, as he must be thinking why is everyone apparently leaving![/quote]

As a potential buyer (8 - 12 months time) I'd view it as bargains to be had :-)
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Babbles Newbie

Babbles

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Hi , we got it wrong first time round buying in the Gers, too quite and the weather is not very good even though its in the South west, you really need to get to the med coast for the good weather (drier) watch out for how windy an area is. we plumped for just outside Pezenas in the Herault, it to meets you criteria so maybe worth a look.

We're not selling up we really love it here :-)
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