New rules for wealth tax

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Among the many tax reforms currently under preparation in France, one of them, which is likely to be enforced as soon as September 2011, will have very important consequences:
Article 16 of the draft budget law for 2011, specifies that so far as the ‘solidarity tax on wealth’ is concerned (ISF - Impôt de Solidarité sur la Fortune), the authorities will not accept any more that a shareholder loan to an SCI (SPV designed to hold French real estate) is deducted from the value of the property for the computation of the ISF due by the shareholder.Read more

Tax changes on company cars

Continuing our series of articles on tax changes, the system has been reinforced for cars used for business purposes. Company vehicles are classified in two categories, commercial and private.Read more

Jyske Bank (France) appoints new General Manager

An experienced leader has been in charge of Jyske Bank in Cannes since February 2011. Thomas Nielsen was formerly at the helm of Jyske Bank (France) when he held the position of General Manager from 2004 to 2006.Read more

Short options for the long term

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In April, the European Central Bank (ECB) raised its rates by 0.25 per cent. Is this move the beginning of a new monetary policy?
Historically, short-term rates move according to long-term trends. In March 2010, the 3-month Euribor, the reference index for the variable rate loans in euros, hit a record low at 0.58 percent. Since, rates are going up again (the index is now at 1.37 percent).
Currently, the European Central Bank is concerned by rising inflation. Its monetary policy has been very loose over the last two years and if commodity prices remain high or rise, it should continue to raise rates.
What could we do if rates continue to go up?Read more

Tax reduction cuts for 2011

The changes affect income tax for 2011: - 10% cut in tax reductions for expenses relating to some investments or services, but not those for employing a home worker or cost of child care.Read more

Nice CCI returns to its roots

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In April the newly elected president of the Chamber of Commerce and Industry Nice Côte d’Azur (CCI) gave an exclusive interview to The Riviera Times.Read more

All the style of the French Riviera at the new Antibes Habitat store

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As the French Riviera celebrates the start of the summer season and stars flock to the Cannes Film Festival, Habitat opened its spacious new two-storey store packed with all the luminous colours of the Cote d’Azur in Terriers Nord shopping centre behind Decathlon.Read more

A palace is born on the French Riviera

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Yesterday, eight luxury French hotels were bestowed with the ‘Palace’ status, a new coveted title that goes beyond a mere five star.Read more

Aim high to optimise your assets

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Luxembourg is one of the most active financial centres in Europe. With nearly 150 banks, 40,000 people working in the finance sector, net assets of 2.2 trillion euros under management, the country is now a leader in asset management.
The state’s central location in Europe between France, Belgium and Germany, its legal and fiscal specificities, its membership of the European Union and being in the Eurozone make it very attractive for onshore private structures.Read more

Pierre Casaraghi becomes JCE honorary member

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Pierre Casaraghi, the third in line to the Monegasque throne, has been nominated as an honorary member of the Jeune Chambre Economique.Read more