Selling property in France as a non-resident can be a complex process, but it is important to understand the taxes involved and the steps required to ensure a successful sale.
Non-resident sellers of property in France are subject to a number of taxes, including:
- Non-resident income tax (IRNR): This tax is payable on the capital gain made on the sale of the property. The capital gain is calculated by subtracting the purchase price of the property, plus any expenses incurred during the ownership period, from the sale price. The rate of IRNR payable on the capital gain depends on the taxpayer’s country of residence. For non-residents from EU and EEA countries, the rate is 19%. For non-residents from outside the EU/EEA, the rate is 24%.
- Social security contributions (CSG and CRDS): Non-resident sellers of property in France are also liable for social security contributions on the capital gain. The rate of social security contributions payable is 17.2%.
- Plusvalía: This tax is payable to the local municipality on the increase in the value of the land since the property was purchased. The amount of Plusvalía payable depends on the cadastral value of the land and the number of years the property has been owned.
The selling process for non-resident sellers of property in France is generally the same as for resident sellers. However, there are a few additional steps that non-resident sellers must take, such as:
- Obtaining a non-resident tax certificate (NIE): This certificate is required for all non-resident taxpayers in France.
- Paying non-resident income tax (IRNR) on the capital gain made on the sale of the property: This tax can be paid through the French tax office or through a tax representative.
- Filing a tax return in France: Non-resident sellers of property in France are required to file a tax return in France, even if they do not have any other taxable income in France.
If you are a non-resident seller of property in France, it is important to market your property to a wide range of potential buyers, including international buyers. There are a number of ways to do this, such as:
- Listing your property on international real estate websites
- Advertising your property in international property magazines and newspapers
- Working with a real estate agent who has experience in selling property to international buyers
Selling property in France as a non-resident can be a complex process, but it is important to understand the taxes involved and the steps required to ensure a successful sale. By working with a qualified tax advisor and a real estate agent who has experience in selling property to international buyers, you can minimize the stress and hassle of selling your property in France and maximize your chances of getting a good price.
Here are some additional tips for international marketing your property in France:
- Translate your property listing into multiple languages: This will make your property more visible to international buyers.
- Use high-quality photos and videos: This will help buyers to get a good sense of your property and its location.
- Highlight the unique features of your property: What makes your property stand out from other properties in France?
- Be responsive to inquiries: Respond to inquiries from potential buyers promptly and professionally.
By following these tips, you can increase your chances of selling your property in France to an international buyer.