France is the very opposite of a tax haven
We have written extensively about French taxation – https://htj.tax/?s=france+tax
Tax residence – domiciled fiscal is a criterion for tax liability – a foyer, business activity or centre of economic interest in France. The devolution of a resident’s estate is strictly regulated by law, with some exceptions for foreign nationals. Lifetime gifts are not tax–exempted. Life insurance wrappers enjoy some advantages. New residents retain the historic base cost of their existing assets. Bank accounts outside France are to be declared annually.
France levies a wealth tax on land: there is a five-year grace period for new residents and bank debt is deductible (subject to limitations). Non-resident owners of French property may be exposed to income tax, capital gains tax, wealth tax and estate duty. SCPI shares are moveable property. Trusts are treated as transparent and on the death of the settlor his liabilities may descent to a ‘beneficiaire’ in his place. There are reporting requirements for trusts. Offshore structures are the target of Article 123bis of the General Tax Code.
Related Posts
Related Sites
- Advanced American Tax
- Advanced American Tax (UK)
- Hayden T Joseph CPA LLP
- Moores Rowland China
- Moores Rowland Hong Kong
- Moores Rowland India
- Moores Rowland Indonesia
- Moores Rowland Japan
- Moores Rowland Malaysia
- Moores Rowland Philippines
- Moores Rowland Taiwan
- Moores Rowland Thailand
- Moores Rowland Singapore
- Moores Rowland Vietnam
- Moores Rowland Asia Pacific
- Taxes for Digital Nomads
- Moores Rowland Australia
- Moores Rowland UAE
- Moores Rowland Portugal