THERE is good news for residents of other EU countries looking to sell their French properties – the requirement to use an ‘accredited fiscal representative’ for the sale has been axed.
A représentant fiscal accrédité, usually from one of a small number of banks, formerly had to be chosen to check on the sale and make sure the non-resident paid the correct French capital gains tax and/or social contributions. This applied unless the home was exonerated from these, which takes 30 years’ ownership.
Now parliament has removed to requirement, as we said was expected in January’s edition of the paper.
This should save time and complication – reportedly these representatives are sometimes demanding in their requests for paperwork from the seller – as well as money. Paris Notaire Thierry Delesalle said: “It’s also a saving in money, because it usually cost around half to one per cent of the sale price for their involvement, which isn’t to be sniffed at.”
People in the EU (and, in certain cases, in the larger European Economic Area) will now simply have the same formalities as sellers in France. However the requirement remains for those living in other parts of the world.
The change follows a ruling by the Court of Justice of the European Union that the requirement was a barrier to the free movement of capital in the EU, as well as a subsequent question to parliament from MP for French people in Switzerland Claudine Schmid.
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