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 30 April 2019

Regime governing property traders: the Cour de Cassation challenges the possibility to avoid payments of registration fees for operations in the past that partially complied with an undertaking to resell

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FUNDAMENTALS


RENTALS

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gestion

Real estate taxation, investment assets: rentals

> Introduction
>VAT - CRL

> Profits tax
> Local taxation
> Tax audit


ACQUISITION/DISPOSAL

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acquisitions

Tax aspects of acquisitions/disposals of real estate asset

Introduction
> Real estate asset
Real estate investment company
Leasing


DEVELOPMENT

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Taxation of real estate asset, as a part of stock

> Introduction
Development operations

> Acquisition and resale
Profits tax

 


STRUCTURATION

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Tax aspects of the legal methods oh holding investments

Introduction
Unregulated structures 

Regulated structures 


INDIVIDUALS

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Taxation of the real estate assets of private individuals

> Introduction
> Rental income
Capital gains on real estate
Furnished rentals
Real property wealth tax
Gifts / Inheritances
Subdivision


INTERNATIONAL

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Internatial investments: French tax aspects

Introduction
> Institutional investors / Companies
> Private individuals

TAX AUDIT
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Tax audit


Introduction: structures used for undertaking real estate investments

Published on .

Introduction: structures used for undertaking real estate investments

The structure of companies used for undertaking real estate investments (other than direct investments) may be extremely simple in nature (such as a property company, a Société Civile Immobilière or SCI), but may on the other hand be complex. In fact its complexity may be limited only by the imagination of investors and their advisers…

In global terms, a distinction may be drawn between:

  • so-called “unregulated” structures, which are usually taxed under ordinary law, such as SCI or SAS [Sociétés par Actions Simplifiée], with or without a holding structure;
  • so-called “regulated” structures, the main ones being SCPI, OPCI and SIIC (see below for definitions), which are usually subject to tax dispensations. SIIC are not regulated as such, but are listed on the stock market.

This is the distinction we shall adopt here.

Nevertheless, with the coming of the new AIFM directive, it is becoming increasingly common for structures operating under ordinary law to deem as regulated for the purposes of the French Monetary and Financial Code [MFC], even though no dispensatory taxation arrangements are applicable.