The main effects of Brexit on UK property owners in France
Most expats woke up on the morning of June 24th to something of a shock: even though the polls showed that the EU referendum vote was going to be a close run thing, deep down most of us thought that we would remain in the EU. France Property Guide considers the impact of this decision on the 320,000 or so expats in France and on future buyers in France. There were 28 member states in the EU, France being one of them. This number will be decreasing to 27 when the much-discussed Brexit eventually takes place.
Tax in France
Our expert Independent Financial Advisor partners in France believe that the tax system is likely to remain very similar to the current structure in the event of Brexit. This is because: a). Cross border taxation of income and capital (such as French property rental income, proceeds of property sales, UK residents inheriting French property, and all UK sourced income for French residents) is subject to existing Double Tax Treaties, which are set up completely independently from the EU and therefore do not fall under EU regulation. The UK leaving the EU will not automatically change this system
The property market as it stands now in France
Looking at the French Property Market post-Brexit. Is it still a buyer’s market or are things slowly changing? France remains right at the top of the most popular countries for overseas buyers to purchase property. We live in what may be described as turbulent times and Brexit came as a shock to many. At this stage no-one knows when or even whether it will be enforced but after the initial knee jerk reaction a few weeks on, signs are that Brexit has not stopped many Brits looking to buy in France despite the pound taking a tumble. Indeed, we have heard many a British voice saying they are more
