Americans are buying in France!
In the News
Written by Jo Stretch ,
Friday, 11 November 2016
- American purchasers in France represent around 3% of property sales.
- The strength of the Dollar against the Euro means that instead of an exchange rate of 1.40 as it was a couple of years ago, it is now below 1.10. That's an effective depreciation of around 20%.
- Despite US FATCA legislation which affects non-US banks, it is still possible for US citizens to obtain mortgages to buy properties in France. And rates are at all-time lows. It is possible to get loans at under 2% over 15 years. Ask us to connect you with specialist lenders.
- Tax residents of France (if you spend more than 180 days here), are liable to pay tax on worldwide income.
- If you are not a tax resident but own a property in France from which you derive rental income, that income will have to be declared in France, although there are simplified ways of doing this for modest rental incomes.
- Long Stay visas are required if you intend to stay in France for more than 90 days.