French real estate annuities - Which offshore bank?

[standb]

Good morning, everyone,

I own several properties, and I would like my tenants to pay me their rents into an account that would not be in the radar of my country of residence for tax purposes, which is France... (I also live there).

Is N26 really offshore? I need to be 100% sure that the French state will not have any information on this account!

Could you give me some information? I'm a little lost with all these banks and EMIs listed here and there!

The funds will be paid in euros and spent in euros as well.

I don't need a very complicated solution, just a Mastercard and bank account references, ideally IBAN.

Preferably also a solution that doesn't cost me anything, or at least not too expensive....

I do not have any particular preference concerning the geographical location of the bank / EMI, as long as I am sure that my funds will be 100% safe!

Thank you for taking the time to read me, and in advance for your answers!

Translated with www.DeepL.com/Translator

 

[standb]

Anyone here who could help me?

Regards,
Standb

 

[Nesso]

Anyone here who could help me?

Regards,
Standb

N26 will report your account to the fisc ( french taxman) without any doubt as they are based in Germany which is part of AIEO. So n26 is worst choice for you.

 

[TurnedToRobot]

You want to go with a simpler setup like a Seychelles corp with Transferwise, Mister Tango or other EMI account that will open accounts for offshore companies.

 

[Bmw850]

N26 is not an offshore bank and never been.
90% of the Emi will or have to report you.
You have real estate asset through several properties and you want a free set up. A free set up will not protect not the privacy and neither the assets. Those kinds of needs require real set up i explain, you are not the only one in this story, you have customers that pay you, and they may also have to explain to the taxman to who they paid: YOU.
So as mentionned create a seychelles corp and use a free emi like TW or others. It's almost free.
And if you have really several properties , go for a good lawyer, cpa or csp , and ask them to offer you a real set up, it s far to be free but worth.

 

[standb]

Hello and thank you for your answer.

You say 90% of EMI will have to report me.

What are the 10% which wont?

 

[marder]

Jesus, the risk you want to take even 10%, be very carefull with french tax people, they are the worst, hope your estates are not in france

 

[newNomad]

isn't opening a Corp for this an overkill? simple question but no solutions it seems lol

 

[ikan]

Without going too much in details of the set up : you could ask your tenants to pay part of the rent in cash or western union at your name or best your kid or grand father name. And not declaring this part of income.
Using a bank account somewhere out of France to get the rents is real bad idea. Even worst when you will use your debit card for payements. Just too many tracks and traces left behind you….
Therefore, most chances, your new account will be automatically reported to French Fisc within couple of year…

 

[fbsworld]

If you live in France, that's probably mean you are French tax resident. So article 4B of CGI: your worldwide revenues are taxable in France... Morover, according to usual DTA model, revenue from real estate is taxed in the countries where they are located. So I advice you not to set up anything that could be an fraud in your home country...

Sell your french real estate, move to a no income tax country and buy REIT and/or ETF in real estate listed in Ireland. No tax and fully legal, so zero risk!!! Otherwise, you take a risk and when it is illegal, for sure it does not worth it!!

 

[bru1234]

Just forget it. Asking people to pay rentals on an offshore account?! What the hell do you think is going to happen?
And you want to explain to french taxes you own houses but rent them for free as you do not declare any income?
There is not possibility to avoid tax for you.