What is a family limited partnership?

How to create a family limited liability company?

For creating a family limited liability company, First, the partners must define the rules of their civil real estate company in the articles of association. This document specifies, among other things, the company’s purpose, the registered office, the duration of the company, the amount of capital of capital social, the nature of the contributions, the distribution of the shares Socially, the powers of the manager and the rules applicable to the decisions of the partners. The articles therefore govern the management of the real estate assets, the relationships between family members and the conditions for the transfer of the share capital.

After the signing of the articles of association, the creation of the family limited liability company must be made public by the publication of a legal notice. The partners then complete the registration formalities with the Single window for business formalities, along with the required documents, including the certificate of publication, to complete the file. The declaration of the actual beneficiaries is part of the information submitted during this procedure. Once the formality has been validated and the company has been registered, the SCI acquires its moral personality and can own the real estate provided for in the family project.

How much does the creation of a family limited liability company cost?

The cost depends on the formalities and the possible use of a professional. It includes, among other things, the publication of the legal advertisement and the fees associated with registration. The involvement of a notary or a lawyer to draft the articles of association increases the budget, but ensures a constitution involving significant patrimonial implications.

How does a family limited partnership work in day-to-day life?

The manager ensures the day-to-day management of the SCI within the limits defined by the statutes. Decisions that exceed his powers are made by the partners. according to the majority rules provided. The company also maintains its own existence: accounts, meetings, tax obligations and the monitoring of its management all contribute to its functioning.

Which taxation scheme to choose for a family limited liability company: IR or IS?

By default, an SCI is subject to the’Income tax Each partner declares their share of the profit. The company can choose to opt for’Corporate tax, With different rules for profits, depreciation and taxes, capital gains.

The choice depends on the project, the duration of the holding and the tax situation of the partners. It therefore deserves a study with a notary or a tax advisor.

Can a property owned by a family-run SCI be sold?

Yes, it is possible to sell a property owned by a family limited partnership. Since the limited partnership owns the property, it is it that conducts the sale, in accordance with the powers of the manager and the rules provided for in the articles of association. The tax regime chosen by the company then influences the treatment of real estate capital gains. The consequences must be verified before the transfer takes place.

How can our CENTURY 21 Auteuil and Auteuil Seine offices help you?

Create, manage or transmit a Family SCI It responds to legal and fiscal considerations, but the value of the property remains decisive when a purchase, sale or rental is being prepared.

Specialists in the Paris 16th real estate market, CENTURY 21 Auteuil Immobilier and Auteuil Seine they accompany you for estimate, to sell, buy, rent or managing a property They are employed by your SCI. Our advisors undergo continuous training within the 21 Academy and practice in accordance with the professional ethical rules.

To discuss your real estate heritage, make an appointment with our team at 01 42 15 16 21 / 01 56 07 16 21 – auteuil@century21.fr and auteuilseine@century21.fr.