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The Tourist Residence: What is it?

General RT sheet LD.pdf

The principle

You buy real estate with the signing of a notarial deed. You are therefore 100% owner. At the same time, you conclude a first commercial lease of 11 years with the manager. It is he who will manage your property.

A first advantage: By becoming the owner of a tourist property, you do not fido not charge VAT. You therefore have a gain at the time of purchase of 20% VAT.

Second advantage: The manager gives you back a guaranteed rent contractedl in two forms:
1 °: An annual income
financial paid into your account *
2 °: Rent in kind consisting of a certain number of weeks of occupation. *

* varies according to the chosen formula.

Third advantage: the manager pays a certain number of costs.
1 °: The housing tax
2 °: Insurance

3 °: The maintenance of the apartment as well as all repairs 4 °: Water, electricity and heatingffage
At your expense, there will only be the property tax,

a contribution to co-ownership charges and accounting costs (for your French declaration, ...).

At the end of the first 11-year lease you enter into a second 9-year lease. This is the opportunity for you to change your formula and increase or decrease your number of weeks of employment.

In general at the start of the second lease, you will be asked to renew the furniturefin allow the manager to continue to use your apartment in the best possible conditions. As a reminder, you are in the status of a non-professional furnished lessor, which is why you are responsible for renewing the furniture.

At the end of this second lease, you can exit the tourist residence system.

Why 20 years?
1 ° The VAT that you did not have to pay is amortized over a period of 20 years.
2 ° The municipalities have provided a building permit on condition that the apartments are operated for a minimum of 20 years.

La fiscality?

Acquisition costs

New real estate in France blessedficompany of reduced notary fees plus or minus 3%. You must also pay a local equipment tax.
This tax varies from one municipality to another.

La fiFrench scality

You have received income including tax. Your status fiscal LMNP being a hybrid status between the legal person and the natural person, you will have to remit the VAT on this income to the French State.
The VAT to be remitted is on the one hand 10% on cash rents and 10% on the valuation of your weeks of occupation.

Depending on the municipality where the property is located, there may also be a tourist tax.

You will not have no tax payable in France for a period of more than 20 years because you will be able to:
1 ° Deduct the co-ownership charges
2 ° Deduct property tax

3 ° Deduct your loan interest

4 ° amortize the furniture
5 ° Damping the walls

La fiBelgian scality

About the fiBelgian taxation, Belgium has concluded a double taxation agreement with France. You will therefore not pay tax on this income in Belgium.
However, Belgium will take this income into account to perhaps review your marginal tax rate. This is called the progressivity reserve.

The transmission of your wealth
France grants substantial allowances for property donations. Thus in a family, each parent can reserve the usufruct and give the equivalent of 100 euros of the value of the bare ownership of a good to each child. This operation can be repeated every 000 years.
This process makes it possible to avoid inheritance taxes, in France as in Belgium, because, when the usufruct ends, it reverts automatically and free of charge to the bare owner. A notable advantage when we know that in Belgium the direct debit rate can reach 30%!

THE RESIDENCE

TOURISM

A purchase without any management worries

The manager takes care of the daily management of your property, so that your second residence remains a place of pleasure.

benefilist many advantages

You do not pay not VAT.

You receive contractually guaranteed income.

Bless youficiez of a fimore advantageous.

You can pass on your property very easily to your children.

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