buy through an SCI?

[EricLeBouffon]

Dear all,

We are french (happily) leaving in the UK. Three of our four children were born in the UK and the youngest is almost 16 so we are kind of "stuck" there.

For both investment and to retrieve a bit of French "art de vivre", we would like to invest in a small property somewhere in the South East...

Being UK (tax) resident, we would not be able to benefit from any tax incentives as individuals because they are quite often discounts on one's (french) tax. For instance, if we rented the place during holidays, we could not offset the various costs against that income.

I was wondering whether it would not make sense to do this through a SCI (Societe Civile Immobiliere) that we could share with our children (to pre-empt inheritance taxes...).

Has someone any idea on the potential value of such a scheme and/or where to look for further advice?

Kind Regards

Eric

[tinabee]

buying a home using an SCI may be useful for inheritance purposes, but it is not appropriate if you want to rent out a property as it is a non-commercial company - there is some useful info here

http://www.french-property.com/guides/france/sci-societe-civile-immobiliere/

[Chiefluvvie]

As tinabee says - SCI's may be useful but there are other alternatives nowadays - take professional advice relevant to your situation.

The costs of dissolving an SCI are enormous and based on the value of the property/s at the time of dissolution. The annual admin required is also pretty demanding.

Chiefluvvie