Newby here, but not to contracting.
We are looking at buying a holiday home in France and in our research, have come across this:
An SCI (Société Civile Immobilière) is a rather specialist type of French company (société) that is constituted for the ownership and management of property (immobilière).
As I see it, the SCI acts as a company to UK Ltd company. So if you make the SCI a shareholder in your company, any dividends you pass intra-company are tax free. So, again, if I have understood this correctly, you can throw all of your profits at the SCI and purchase a house with it. As long as you are not letting the property to strangers, then there is no tax payable.
Has anyone had any experience with an SCI?
Thanks
We are looking at buying a holiday home in France and in our research, have come across this:
An SCI (Société Civile Immobilière) is a rather specialist type of French company (société) that is constituted for the ownership and management of property (immobilière).
As I see it, the SCI acts as a company to UK Ltd company. So if you make the SCI a shareholder in your company, any dividends you pass intra-company are tax free. So, again, if I have understood this correctly, you can throw all of your profits at the SCI and purchase a house with it. As long as you are not letting the property to strangers, then there is no tax payable.
Has anyone had any experience with an SCI?
Thanks
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