The three percent tax in France and the concept of beneficial owner are very complex things. According to the French tax code, companies and other entities which own French real estate, are subject to an annual three percent tax applied to the market value of the real estate. There are a number of exemptions that apply.
“Under Article 990 D of the French tax code, companies and other entities (notably such as trusts and private foundations) which own French real estate, directly or indirectly, are subject to an annual 3% tax applied to the market value of the real estate.”
Rory Ramsden is a French property finder and buyer's agent working for high net worth private clients wishing to buy a chateau, manor or vineyard in the south west of France. He has lived in France for 8 years after spending time travelling the world on business.
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