 News
April 2008 Numerological Newsletter.. click here
Spanish Taxation
- Rental Income Tax Explained!
In association with Numerological ~ click here
- Spanish Property Tax Explained!
- Why do I need to do annual tax returns?
In association with Numerological ~ click here
- Spanish Wealth Tax Explained!
- Spanish Tax Guide: Your Questions Answered
In association with Numerological ~ click here
Good News for French Property Leaseback owners.
The Leaseback scheme was introduced by the French Government to stimulate tourism in France by increasing the quantity of quality holiday accommodation. Leaseback developments are usually sold "off plan", and the properties come fully equipped. They are usually located in a "Residence Tourisme" which offers short term holiday accommodation and provides a variety of guest services, including reception, breakfast, laudry and linen services, swimming pool, restaurant, kids club etc.
Under the scheme, the purchaser buys a freehold property which is then leased back to a management company for a period of 9 or 11 years. In return the Management company guarantees a rental income from the property which it secures by letting the property to tourists. The Management company also looks after all maintenance during the leaseback period.
Under the Leaseback scheme, the French Government agrees to reiumburse the VAT on the purchase - an effective discount of 19.6%. Prior to the 1st January 2006, an owner selling his property within the first 20 years of ownership would have had to repay a proportion of the VAT back to the French Government.
However, under Article 257 bis of the French Tax Code, effective from the 1st January 2006, an owner who sells to a buyer who leaves the property in the Leaseback scheme, does not have to repay the VAT.
Resorts International have details of a number of Leaseback schemes in France and Spain. Please call us for further information.
May 2007
Good News! Tax advice for Spanish Property Owners!
In association with Numerological ~ click here
January 2007
Gozo seems to have left an impact on British holidaymakers and for the second consecutive week, Malta's sister island has been ranked as a top destination in London's The Sunday Times' Travel Supplement.
Yesterday's edition of the newspaper included Ramla l-Hamra among its top 20 beach holidays in an article by travel writer Mark Hodson.
It gives details about Calypso's Cave, overlooking the bay, which is believed to have housed the nymph in Homer's Odyssey. "True or not, the most memorable part of the trip is not the cave itself, but the view down from the top.
"Several hundred feet below lies Ramla Bay, where the sea is a deep iridescent blue and the sand a distinctive fiery orange.
"Behind the beach are swathes of dunes and mature tamarisk trees," the newspaper says. "Truth be told, you might even wish you'd skipped the cave altogether and gone directly to the beach."
Last week it was the turn of Gozitan farmhouses to be raved about. "The best way to soak up the lazy rustic charm of Gozo is not in a posh hotel, but a restored farmhouse," the paper said in a survey of the best 100 summer holiday destinations.
To view the properties we have available in Malta please click here
Hot News from Malta!
We are pleased to announce details of the newest development in Malta, located in the heart of Sliema, close to all amenities. Spacious 1,2 and 3 bedroom apartments with prices starting from Lm40,500 (approx £64,285). Views over the central gardens. Apartments in the upper level will enjoy panoramic views of Manoel Island, the Valletta Bastions and Sliema Creek. Underground lock up garages. Attractive Payment Terms. Selling like hot cakes!
To view the properties we have available in Malta please click here
December 2006
In an effort to improve our service to our clients, and to provide important details online, we're pleased to announce that our new web site has been launched as planned. |
