FinanceImmo | Loi Girardin, The tax exemption for real estate investment new property in the DOM-TOM | FinanceImmo

FinanceImmo | Loi Girardin, The tax exemption for real estate investment new property in the DOM-TOM | FinanceImmo

History Girardin Act

Introduced in 2003 in the line of the law Paul Girardin Act, in force until 2017, is one of the many features of tax exemption, the legislature has adopted in order to support and promote property development, with the particularity of being developed specifically for real estate investment in the overseas territories. Particularly affected by the shortage of new housing, Guadeloupe, Martinique, St. Martin, New Caledonia, Saint Pierre and Miquelon, Mayotte, Saint Barthelemy, French Polynesia, Reunion, Wallis and Futuna and the southern lands French Antarctic and are therefore not to be outdone in the effort by the state in its commitment to supporting the economic and social development and to fight effectively against the housing crisis now raging for decades in France and the overseas TOM. Depending on the date of commencement of work will be appl

Principle of Law Girardin

Girardin Act tax exemption is a device very attractive property, allowing taxpayers residing in France or in overseas territories to benefit by acquiring a new property located in DOMTOM destined for rent over a period of six years, a tax reduction of an amount between 25% and 64% of the amount of investment. The interest rate will be calculated based on the selected area. For a real estate investment made in the free market, that is to say, not subject to a cap on rents, the rate is 40% over 5 years. For an investment in the intermediate sector, subject to a cap on rents, the percentage reduction is 50% over a minimum of 6 years.

To qualify for tax exemption device Girardin, investors must meet several conditions. The housing will be rented as a naked tenant's principal residence throughout the duration of tax exemption. The property will be occupied by the tenant within six months following completion. The taxpayer will also have the obligation to respect the VAT rate applied to the ceiling for tax exemption per sqm.

Directly descended from the law Robien Scellier law is a new property tax exemption mechanism established by the legislature to support and boost the property sector nine. About Scellier law and how it can make you enjoy a tax reduction of 25%.

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