Nicolas Minard is the President of Ice Finance,
one of France's leading wealth management
companies. He is a Master 2 "expert en Gestion
de Patrimoine", with particular expertise in
structured finance.
A Conseiller Patrimonial is a wealth management
expert who will give you bespoke advice.
They will be experts in the laws and financial
arrangements that best meet your strategic
needs. Leggett Prestige works closely with
the team at Ice Finance, as we believe they are
ideally positioned to offer independent advice.
For this report, they look at how to determine
your tax residence, and capital gain.
WEALTH MANAGEMENT
How to determine if your tax residence
is in France?
You have your tax residence in France if one of
the following criteria is met:
1. Your household is in France or, if you do not have a
household, it is the location of your main residence.
According to the Administration, home is
the place where people live on a regular and
permanent basis.
To determine the household, it is necessary
to look at where the centre of family interests
is located (where the taxpayer's family is) and
where the taxpayer normally lives.
For example, if the place of residence of adult
children has no impact on determining the
parents' tax residence, a minor child attending
school in France is considered to be domiciled in
France, which leads to taxation in France for the
parents, even if they mainly live outside France.
The duration of stay in France is only examined
if the household could not be determined. As a
matter of principle, taxpayers who stay for more
than six months in a year (in total) are considered
as French tax residents.
2. You have a professional activity in France, as
an employee of otherwise, unless this activity is
secondary.
The main activity should be analysed in terms
of time spent or, failing that, income. Social
mandates, including unpaid ones, should also be
considered.
3. Your economic interests are in France.
This the place where taxpayers:
• have made their main investments
• have the main office of their business
• administer their property
• have their main professional activities
• derive, directly or indirectly, the
major part of their income.
22 Leggett International Real Estate