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International successions: what are your obligations in France?
International successions: what are your obligations in France?
The settlement of inheritances with a foreign character is not easy and the related tax obligations are not well known.
The question of the territoriality of inheritance tax is dealth with by article 750 ter of the French tax code.
Thus, two hypotheses should be distinguished:
=> The beneficiary is domiciled outside France: only the French property transferred (real estate located in France, French bank accounts, shares and receivables in French companies and others) is included in the declaration of succession filed in France.
However, France has entered into inheritance tax treaties with some countries, aimed at eliminating double taxation in matters of inheritance tax. The provisions of these treaties have to be taken into account for the application of the rules summarized above and may modify them.
Also, given the complexity of international successions, the intervention of a French tax law and French property law professional often appears to be essential.
As such, the French tax specialist law firm CM-Tax and its team of English speaking French tax advisors, based in Lyon and Marseille but operating throughout France, assists its French and foreign clients in the analysis oif their situation and their filing obligations in France, in relation to international successions.
CM-Tax law firm and its team of French tax experts advises and assists the international community on all subjects relating to French tax law - tax advice and tax litigation - as well as French property law. We also assist the international community in the sale and acquisition of French real estate.
The question of the territoriality of inheritance tax is dealth with by article 750 ter of the French tax code.
Thus, two hypotheses should be distinguished:
- the deceased was domiciled in France at the time he passed away: in this situation, all movable and immovable assets are taxable in France, regardless of its nature and location.
Thus tangible or intangible assets (bank accounts, shares and stocks and others) as well as real estate located abroad have to be included in the declaration of succession filed in France.
- the deceased was domiciled abroad at the time he passed away: it is necessary to distinguish here two situations:
=> The beneficiary is domiciled outside France: only the French property transferred (real estate located in France, French bank accounts, shares and receivables in French companies and others) is included in the declaration of succession filed in France.
However, France has entered into inheritance tax treaties with some countries, aimed at eliminating double taxation in matters of inheritance tax. The provisions of these treaties have to be taken into account for the application of the rules summarized above and may modify them.
Also, given the complexity of international successions, the intervention of a French tax law and French property law professional often appears to be essential.
As such, the French tax specialist law firm CM-Tax and its team of English speaking French tax advisors, based in Lyon and Marseille but operating throughout France, assists its French and foreign clients in the analysis oif their situation and their filing obligations in France, in relation to international successions.
CM-Tax law firm and its team of French tax experts advises and assists the international community on all subjects relating to French tax law - tax advice and tax litigation - as well as French property law. We also assist the international community in the sale and acquisition of French real estate.