What legal structure is the most tax efficient to set up a business in France?
Having had a second home in France for eight years and the impending exit of Britain from Europe we have finally made the decision to move to France permanently.
We are going to set up in business in France and wish to know which is the best business structure for us. The business is twofold property rental both commercial and domestic and a retail premises English tea room. We currently own three houses one will be our principal residence, one in renovation then will be holiday lets and then one other which is ready to rent out for holidays this year (already have bookings).
We are also in the process of buying a property in France which consists of three apartments (one already leased the other two empty needing updating) which we will be letting on three year leases and two retail units one which is leased by the CIC bank and the other we wish to convert into the tea room.
Our income will derive from the French holiday lets, renting out the apartments in France, renting out the commercial premise and from the tea room.
- Can this be one business, two or three?
- Which business approach is the most efficient and why?