HOW WORKS REAL ESTATE WEALTH TAX IN FRANCE ?
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- เผยแพร่เมื่อ 17 ก.ย. 2024
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HOW WORKS REAL ESTATE WEALTH TAX IN FRANCE ?
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Taxpayers newly settled in France benefit from a temporary exemption for 5 years from the real estate wealth tax (IFI) on their real estate assets and rights located abroad.
As a reminder, a taxpayer is liable for the real estate wealth tax as soon as his or her net real estate assets exceed the tax threshold of 1.3 million euros.
Individuals who have not been domiciled in France for tax purposes for the five calendar years preceding the year in which they are domiciled for tax purposes in France are liable for the real estate wealth tax (IFI) only on their real estate assets and rights located in France.
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INVESTING IN FRANCE 🏡
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This regime applies for each year during which the taxpayer maintains his or her tax residence in France, i.e. until December 31 of the fifth year following the year during which the tax residence was established in France.
This measure applies regardless of the reason for transferring the tax residence (for professional mobility, retirement, etc.).
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QUICK CASE STUDY 🚨
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Let's take a concrete example: If you own a house abroad worth 3 million euros, in principle you should be liable for the IFI because its net value exceeds 1.3 million euros. However, thanks to this system, you will be exempt from the real estate wealth tax for 5 years following your installation in France.
The French tax system can be quite technical for a non-tax resident wishing to settle in France, we are here to help you every step of the way and make your move to France a great success.
