Quote:
Originally Posted by ildkinvestments
Hi
I have just joined this forum site.
I am a licensed French agent.
Some of the comments made in this post are correct.
BUT, there are various types of leaseback scheme within the French system.
They are all designed for French taxpayers.
However, the rules for LMNP/LMP products have just changed.
This scheme - LMNP/LMP - is the one where you get the TVA refunded (cashback). Previously, if the unit was sold off before 9 years, a proportion of the cashback had to be repaid.
THIS IS NO LONGER THE CASE.
You only have to keep the unit for 1 year, before you can resell it without penalty.
We deal in both new sales (to foreign clients) and resales (to french clients)
For LMNP/LMP, the standard guaranteed rental return (4-5%) appeals to French clients as this is higher than they would get in a French bank. However, most don't want to wait potentially 18-24 months to get their return after signing the intial paperwork to purchase.
Currently it is taking between 72-96 hours for us to resell LMNP/LMP products
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Thanks for clearing these issues up, a lot of sites and articles are not up to date on this and even some promoters do not have the correct info.
Dee
The leading French property advisors in Ireland - French Property Ireland