French property company (SCI)
From EverybodyWiki Bios & Wiki
The Société Civile Immobilière (SCI) is a specialist french type of company (société) used primarily for owning and managing property (immobilière). It is a non-trading company (civile) limited to certain activities (i.e. renting out non-furnished property) that are not considered trading under french law. This company type is governed by articles 1845 to 1870-1 of the French Civil Code.
Advantages[edit]
- Several individuals can co-own a property
- Allows for simple transfer of ownership
- Avoids some constraints of French inheritance laws
- Tax advantages
- Protection of family homes against business creditors
References[edit]
- MIT Paper Investing in French real estate: an American perspective (reference to SCI on page 34)
- French Wikipedia article [1]
- French code civil 1845
- French Property: Société Civile Immobilière (SCI)
- Tax and estate considerations when buying a house in France (Professional Adviser publication)
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