great idea... what could possibly go wrong if there such great things like property taxes...
Help For Tax optimization [ France ]
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You pay property taxes in all EU countries, and pretty much everywhere else in the world too, it's just one of those side expenses you need to factor in. But it should be manageable if you have the funds to buy a château and make it CO2-neutral.
I'm not sure what the property taxes are like for a château, maybe someone here knows?
all true but it's the easiest target to extract more money when needed (and you bet it will be needed) with zero chance to avoid whatever they want from you
Yes. But the problem is that more often than not, you cannot simply do this. On one side, the walls are usually pretty thick and external insulation does not look good (nor is it allowed most of the time). Even in Switzerland where money is available, castles are not a cash cow:
https://www.nzz.ch/panorama/aargau-...chloss-zukunftsfaehig-machen-willl-ld.1775099
How about using your AI company in Switzerland to renovate some of our castles?
In France, if the chateau is a really expensive one , you pay two types of property tax annually :
Taxe foncière aka (local) property tax
IFI aka property wealth tax
Some EU countries tax the sh*t out of peoples residences while others do not. France is on the very harsh side of property taxation while in the UK their annual property tax (Council tax) is peanuts for UHNWI's £10m+ mansions. Same thing in Germany (especially Bavaria) - Pocket change for wealthy Germans.
Croatia doesn't have an annual property tax but this will change apparently in 2025.
Thank you for the information, but what does that mean in numbers? For example, if a château costs, let's say, €3M, isn't there a fixed percentage you have to pay?
Not really for IFI. it's progressive so the more your residence gains in net value the bigger your (effective) tax bill percentage will be.
For the local property tax - It's based on cadastral or rent value of the property so again it is not "fixed" like the way you think it is.
There are a couple of taxes
https://www.impots.gouv.fr/international-particulier/jai-des-biens-immobiliers-en-france
You'll likely find yourself buried in paperwork due to bureaucracy. Most castles probably fall under 'monument protection,' which means they are subject to specific building codes and require approvals from various authorities etc....
I think in Switzerland the authorities are similar ?
Heritage protection office of your region + Local building authority + Environmental protection agency/authority + in rare cases also the ministry of culture ( if you are balling )
Additionally I think work can be only be performed by certified workers .
My opinion is that you will be just wasting a lot of money and get a lot of headaches from our beloved authorities .
Really? Have you seen what Macron did to Palais de l'Élysée?
I know it's unlikely to be permanent but it surely hurts ones eyes.
Exactly this! There is a good reason they are on offer they cheap but still nobody buys.
T
thomasparra
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The reason is that they are not great investments, you will at best breakeven or make little profit. They are meant to be purchased by individuals who sees value in owning & restoring centuries-old monuments.
The ones who just want to make a return on their investment will just buy high rise condos in Toronto and put them on Airbnb. The construction quality and materials used are s**t but it does not matter.
You could also buy such a castle at a low price and host parties and other events for high society individuals or create extravagant vacation experiences for an exclusive segment of wealthy people.
You could offer luxury stays or sell high end goods from such a castle.
There are many opportunities to combine the prestige of a beautiful, well maintained castle with business, thereby generating significant income.
You could offer luxury stays or sell high end goods from such a castle.
There are many opportunities to combine the prestige of a beautiful, well maintained castle with business, thereby generating significant income.
sadly after the run in with the various french gov agencies concerned for this venture, the significant income will be vastly less significant.
I'm not aware if anyone has tried that concept yet.
However, if you can offer something so extravagant that it becomes "the s**t of the year" and charge, for example, 25K euros for a single night's stay, 100K euros for an event, or sell prestige and luxury items worth millions, then I honestly don't see the problem.
As an investment that just sits there doing nothing, yes, that's a no go and money out the window.
Options are plentiful
https://www.lecollectionist.com/fr/location-villas-luxe/france/chateau-pour-un-evenement
https://www.1001salles.com/1-chateau-salle-de-mariage-2-france-p.html
https://www.schloss-freudenfels.ch/en/event/
https://www.clunycastle.com/events.html
https://belleekcastle.com/venue-hire/luxury-rentals/
https://www.votre-chateau-de-famille.com/chateau/
Hard to compete and become the nullshit of the year if you ask me. Also, note that many riches already own their own castle and burn money there. It is often also a place to display anitques to a closed public.
Last edited: Jan 12, 2025
Ah, if you just make a couple million, then you think the investment could pay off. Why did I not think of this myself?
It's a very clear four-step plan:
1. Buy cheap castle
2. Pay $$$ for renovations/upkeep
3. ????
4. Cash out millions and buy new Lambo
I am in. Let's but one all together. With Mentor Group Platinum, you have access to the lobby and the diner over lunchtime. Looking forward to seeing all that pimps from OF in da
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