We are often asked by Non-Resident Property Owners how taxation works, how returns should be done and in what time frames. We hope that this post will give a little bit of direction.
Everyones personal affairs are slightly different, and we always recommend that an ‘Expert Comptable’ is used. ESPECIALLY for the first one or 2. It can be done oneself, but we suggest that it is better to get everything straightend out properly and to learn from it so that one can do them properly oneself in the future!
Key points follow:
Annual Tax Returns, must be submitted the following year by the end of May for all non resident owners.
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Our Code of Conduct is built around the notion that everything we do in connection with our work should be measured against the highest possible standards of business conduct. We hire great people and we all work hard to build a great company, and it’s essential that we build an environment of trust and mutual respect – among ourselves and with our suppliers, partners & customers.
Our Code of Conduct is built around the notion that everything we do in connection with our work should be measured against the highest possible standards of business conduct. We hire great people and we all work hard to build a great company, and it’s essential that we build an environment of trust and mutual respect – among ourselves and with our suppliers, partners & customers.
Always bear in mind that each of us has a personal responsibility to incorporate this policy into our own working lives, and to encourage everytone else that we work with not only within the company but also our Partners, Suppliers and Customers to incorporate the principles into all our work.
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Many people ask how exactly the pricing works vis a vis markups/ formulas/ taxes and how it relates to the prices that a Property Owner sets.
The explanation below is as detailed and full as possible, and describes in as much detail as we are able to make public exactly how the pricing works, both in terms of the Renting Customer and the Property Owner.
What follows is disclosed in the interest of transparency and is subject to change without notice. Specifics, exceptions and special negotiations are taken care of contractually on a case by case basis, and specific contracts may vary.
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PL79 - Renovations, Improvements and Adding Value.
Dear All,
FROM SOW’S EAR - TO SILK PURSE.
Many people ask the same question – « Can’t you find us somewhere that needs renovation? »
The motivations are many but underlying it is always the thought that there might be an unrecognised bargain out there. Perhaps we can find the « renovators dream » and a small fortune waiting to be made. Well, there are some – they do actually exist, and I highlight possible options in some of my Property Letters.
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Dear All,
“Call the Bottom Dad!” …is what Lao said to me recently.
We were talking about the market and the release of the “Residential Market Review for the third quarter 2008, published in October by CB Richard Ellis, a worldwide property consultancy firm who publish research results and market reports which are respected by professionals in every field of activity. (See extracts below)
We were also discussing the state of mind (the happiness) of people who have investments, and where those investments are:
- In Sterling and the Rand? Not happy.
- In stocks? Not happy. The less said about that the better.
- In UK property? Not happy.
- In Euros? Happy.
- In French property? Happy
- Don’t we all wish we’d bought into gold!
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Dear All,
Trompe-l’œil
(French - “trick the eye”) is an art technique involving extremely realistic imagery in order to create the optical illusion that the depicted objects appear in three-dimensions, instead of actually being a two-dimensional painting.” (Wikipedia)
It is a very popular art form in this part of France, and this side of an otherwise uninteresting three storey building in Cannes is a fine example. For the doubters – there is no balcony; there are no windows or doors, shutters or plants. Not even the “Barbella” restaurant below exists. It was a blank wall before the artist started his work.
•
MIA.
For the many of you who know Lao & Katherine – their little girl Mia was born on the 19th October in Nice, a sister for Noah (who’s still not sure it’s a good idea to share his Mum and Dad) and a joy to us all.
•
Into dark places…
Stocks plummeted around the world, banks failed, Iceland (the country) almost failed, and rescue packages worth hundreds of billions of $, €, or £ were hastily agreed. Interest rates have since been slashed, banks semi-nationalised, deposits guaranteed and far reaching measures taken to boost the “real” economy. As a result stocks have rallied, if hesitantly (and so has Gordon Brown!).
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FRENCH PROPERTY & THE GLOBAL CRISIS.
(While Riviera Sales Slow Values Hold Firm.)
« Ce qui a changé, ce qu’il faut faire. » (What has changed, what one must do.)
In general, after nearly a decade of increases the French property market has levelled somewhat and banks are tightening access to credit, albeit much less virulently than in Britain and Spain. Read more »
Dear All,
Vicky and I arrived back last week from a wet and windy Cape Town to Cannes with the “Festival International de la Plaisance” – The 31st Cannes International Boat and Yacht Show - in full swing. Billed as Europe’s foremost in-water showcase there are 650 of the worlds finest yachts and multihulls on exhibition, many of them over 30m, and many being unveiled for the first time ever. What a sight to get back to! Each of our ports and the Bay of Cannes is truly buzzing with activity, and the boats themselves resplendent in the lovely autumn warmth and sunshine. Ahh!
The reason for it all is of course that the “Show” is an exceptional business event bringing together boatbuilders, service providers, equipment manufacturers, interior designers, marinas and the press, plus visitors from around the planet.
There is no question – Cannes really does these events so well!
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Owning “A Little Piece of the French Riviera”:
This is the fourth in this series of Postcards from the Riviera and judging by the interest that the articles have generated so far (all are available on http://www.realestateweb.co.za or at http://www.azur-accom.com/), there is a great deal of interest within the South African investment community in the two main concepts:
1. Owning property in the Euro-zone in general.
2. Owning “a little piece of the French Riviera” in particular.
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Dear All,
Market update:
The next year is going to be tough while we ride out the downside of an economic cycle which follows six years of low interest rates and rising property and asset prices. Most predictions are for a return to stability in 2009 and a return to economic growth in 2010.
France is less exposed than the USA and Britain because it was never as involved in the crazy lending spree that the USA and Britain experienced, and of all regions the French Riviera, and especially Cannes is the least exposed because of its “luxury” status. Neither buyers nor sellers on the Riviera are too stretched, nor buying their first home, nor hoping for (or labouring to pay back) a 100% mortgage. As usual, it is the less well heeled and the most exposed that are worst hit by the downside of any economic cycle.
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