±JOIN OUR NEWSLETTER
±Compare Expat Providers
±Expat Focus Partners
±Latest Financial Articles
· Expat Focus Financial Update July 2017
· The Lifestyles And Cultures Of Great Expat Locations
· Understanding Exchange Rates for Your Overseas Property Purchase
· Interview With Duncan Khoury, Head of Marketing, World First Australia
· Expat Focus Financial Update June 2017
· Relocation Destinations For The Politically Minded And Socially Progressive Expat
· Expat Focus Financial Update May 2017
· An Expat Guide To Investing While Living Abroad
· Expat Focus Financial Update 27 April 2017
French Leaseback CostsBack to top Back to main Skip to menu
France - French Leaseback Costs
When purchasing leaseback property there are a number of costs that are not included in the purchase price of the property. These commonly include:
- Notary fees: purchasers should allow approx 3.5% of the VAT inclusive price for new build and between 7–12% for resale.
- Mortgage registration fees: these are applicable when purchasing with a French mortgage – purchasers should allow approx 2% of the VAT inclusive price.
- Solicitor fees: contrary to popular belief, the French notary does NOT work on behalf of the purchaser and is independent, acting more as a paperwork administrator than anything else. It is highly advisable for purchasers to instruct a bilingual solicitor qualified in French law to act on their behalf. Prices vary although are commonly between 600-2000 GBP depending on the level of service.
- Proxy fees: if the purchaser closes on the purchase at a public notary in the UK, they will need to pay the UK based notary a fee for them to notarise the document. This varies from region to region but generally comes in at about 100 GBP per document.
- Accountancy fees: to claim back the VAT an accountant will normally charge between 300-500 Euros.
Costs involved during the lease
The following is an outline of the costs involved during the lease period. It should be noted that they may vary from development to development and do not include income tax liabilities.
- Taxe Fonciere: Land tax paid in France by owners. Averaging a cost of between 300–500 Euros per year for a studio or one bedroom apartment.
- Accountant's Fees: to prepare VAT declarations and keep accounts averaging a cost of between 300–500 Euros per year depending on the firm.
- Frais de Syndic: these cover some of the insurance liabilities which are paid by property owners and costs vary from development to development.
- Quote Part de frais des co-propriétés: Some property management firms (although these are not the majority) will only pay part of the co-ownership charges and leave a part for the owner to pay. These are usually between 15–20 Euros per metre squared each year. Where this is applicable it is set out in the lease contract.
Read more about this country
Expat Health Insurance Partners
Our award-winning expatriate business provides health benefits to more than 650,000 members worldwide. In addition, we have helped develop world-class health systems for governments, corporations and providers around the world. We want to be the global leader in delivering world-class health solutions, making quality health care more accessible and empowering people to live healthier lives.
At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.
Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.