Hi

I am quite sure you, like me, are just amazed that Christmas is upon us already! As I write, our office is festooned with decorations and there is a general feeling of anticipation, even in these difficult economic times.

Since my last newsletter I have been doing a fair amount of travelling: I went to Paris to see my dear old friend Elisabeth and we reminisced about our childhood correspondence when she was learning English and I was learning French… it seems like yesterday! We speak now mainly in French and it made me think about the importance of communication generally. Whether you are thinking of moving to France permanently or just having a holiday home there, it will stand you in great stead to be able to communicate with your neighbours, friends or bank manager! A little effort goes a long way and I am constantly reminded of a lovely old couple I met when I was buying my own property. They were well into their eighties and both had managed to learn enough French to get by. Truly, they were an inspiration and I hope fervently that one of your New Year’s resolutions will be to dust off that brain and get learning: it is actually great fun and you will be longing to cross that Channel and go and practise! In this month’s newsletter I have a few tips for you to make it a little easier so do read on.

I had a few days down in Montjoi too which was just lovely. The Christmas markets are wonderful at this time of the year and I saw some great Christmas menus in my local village restaurants. Goose is very popular in France and I found a delicious recipe which you will find later on in this newsletter: enjoy!

I hope you will be able to come and visit us at the France Show at Earl’s Court Exhibition Centre from 9th to 11th January. It is always great to meet our readers in person and we will have our usual (and ever popular) mini-guides available to give out freely to you. We can also supply you with free entrance tickets, so please call me or Claire, or pop in to our office for more information on this (0207 898 0549). We are always pleased to see you and will be more than happy to answer any questions you may have.

As well as some great tips on moving to France and learning the language, we have information on the difference between a bank and a currency specialist, some very useful information from our recommended bilingual solicitor on ownership in France and a superb property to whet your appetite for the New Year. Our aim is to save you money, do as much of your homework for you as possible and ease your path to your French purchase. Our main France Buying Guide is still selling like hot cakes too so if you have yet to get your copy, just click here and you can buy it instantly on line!

http://www.FranceBuyingGuide.com/guide.htm

I wish you a joyous, peaceful and fun Christmas and look forward to a bright 2009!

Kind regards as always,

Alexis
mailto:Alexis@overseasguidescompany.com
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)

Christmas in France or Joyeux Noel!

In France, Christmas is called Noël. This comes from the French phrase les bonnes nouvelles, which means "the good news." This is a reference to the gospel, which spread the good news of the birth of Jesus. Santa Claus is called Père Noël, meaning “Father Christmas.” As in England, he is dressed in old fashioned red robes trimmed with fur, and carries a sack of gifts. In the Christmas season you will often stumble across a fat Father Christmas climbing up a ladder en route to the chimney on many a French house.!

French children receive gifts from Père Noël, who travels with his rather joyless companion Père Fouettard He reminds Père Noël of just how each child has behaved during the past year and is said to sometimes hand out punishments to the naughty – party pooper!

In some parts of France, Père Noël brings small gifts on St. Nicholas Eve (December 6) and visits again on Christmas. In other places it is the baby Jesus who is responsible for bringing the gifts. In common with many other European countries, presents are normally opened on Christmas Eve and Christmas Day is set aside for games and outings.

French children put their shoes in front of the fireplace, in the hopes that Père Noël or "le petit Jésus" will fill them with gifts. Candy, fruit, nuts, and small toys will also be hung on the tree overnight. Formerly, peasants' wooden shoes, called sabots, were often used at Christmas time, but today shoes of any kind are set before the fireplace or around the tree. However, the sabots are not forgotten - chocolate wooden shoes are made to resemble them by pastry shops and filled with candies.

Although fewer and fewer French attend la Messe de Minuit (or Midnight Mass, as we know it) on Christmas Eve, it is still an important part of Christmas for many families. Young children seldom attend - they are tucked up in bed dreaming of their Christmas gifts.

Midnight Mass is followed by a huge feast, called le Réveillon (from the verb réveiller, to wake up or revive). Le Réveillon is a symbolic awakening to the meaning of Christ's birth and is the culinary high point of the season, which may be enjoyed at home or in a restaurant or café that is open all night. The main dishes of this holiday dinner vary from region to region. In Alsace, goose is served as the main dish, while in Brittany buckwheat pancakes with sour cream are a featured dish. Turkey and chestnuts are popular in Burgundy, while in Paris, Ile-de-France and some parts of the South of France, oysters are served. I well remember being in the Var region one New Year and tradition had it that the oysters should be chilled outside on the window sill before the meal to invite good karma for the New Year! Of course, no French Christmas dinner would be complete without the traditional log shaped cake, Buche de Noel.

Many regions of France use santons in their main Christmas decorations, making a little nativity scene out of the small figures. Translated, santons mean little saints. An extensive tradition has evolved around these little figures which are made by craftsmen in the south of France throughout the year. In the stable is a reproduction of the legendary manger of Bethlehem, with the ox and the donkey placed close to Jesus, and Mary and Joseph in the foreground welcoming the visitors.

In addition to the usual Holy Family, shepherds and Magi, the craftsmen also sometimes produce figures in the form of local dignitaries and characters. The craftsmanship involved in creating the gaily coloured santons is quite astounding and the expertise has been passed from generation to generation since the seventeenth century. Throughout December the figures are sold at annual Christmas markets: the small village of Aubagne, in the Provencal region of France, is considered the world capital of santons.

Today, the family usually arranges a manger on a small stage in a prominent part of the house. In Provence, the children bring rocks, branches and moss to make a setting for the manger.

Christmas trees can be found in France, though they are not as popular as they are in Germany, Great Britain and the United States. Mistletoe is hung above the door during the Christmas season to bring good fortune throughout the year and a wreath is hung on the door to say to neighbours, family and friends "soyez la bienvenue chez nous" (Welcome to our house). Originally, this was an Anglo-Saxon tradition which was later adopted by the French.

The wreath is round, shaped like the sun to represent the sun hanging at the door. In the past, the Christmas wreath had four candles which represented the four weeks before Christmas, called Advent. Each Sunday, one of the candles was lit as a count down to the special day, in preparation for the birth.

New Year's Eve is called la Saint-Sylvestre, which is more of an adult celebration. There will often be an 8 or 9 course meal and dancing into the early hours. You will find many restaurants have a special menu although, strangely perhaps to us, midnight is not particularly noted – the evening and night simply follow through and before you know it, you are into the New Year!

Are you planning to spend Christmas in France? Do you perhaps have memories of past Christmasses there? If so, we would love to hear your stories so do email me or perhaps visit our France Forum on:
http://www.FBG-Forum.com

That old French phrase: One should live to eat, not eat to live springs to mind as I write. And since Christmas is a time to eat, drink and be merry, whatever country you are in, here is that wonderful goose recipe I promised for you: yum!

Christmas Goose with an Aromatic Chestnut, Fruit & Spice Stuffing, and a Red Wine

What better alternative to turkey than a local French goose? It looks impressive, has loads of crispy skin, and the juicy meat is full of flavour. You will need to order your goose from the butcher or farm as far in advance as possible, specifying that it is for roasting.

This recipe is packed with Christmassy flavours, and the aromatic citrus and spices contrast with and compliment the rich meat perfectly.

The Stuffing:
Ingredients:
• 1 tin of chestnuts, roughly chopped
• 1 orange
• 1 lemon
• 1 large crunchy apple, pealed and cut into small chunks of less than 1cm
• 1 onion, finely chopped
• 2 tsp ground or grated nutmeg
• 2 tsp ground cinnamon
• The finely chopped heart, gizzards, liver and kidneys of the goose, if you can get them. If not, 100g chopped chicken liver.

What to do:
• Gently fry the onion and apple together until the onion is translucent. If you’re using the giblets, fry these at the same time.
• Mix up the chestnuts and spices with the juice of 1/2 the lemon, the juice of 1/2 the orange, and the zest from the orange. Add a big pinch of salt and some black pepper.
• Empty your mixture into the hot pan of onion and apple, and stir everything together for a few moments, until the chestnuts start to get a bit mushy. Taste and add more seasoning, spice or juice if necessary.
• Momentarily bend in a food processor, or with a hand blender, so that it sticks together more easily, but still has plenty of texture.
• Stuff the goose, season the skin, and roast on a high heat. (Roast potatoes around it, in the fat.)

The Gravy:
• 1 bottle of cheap country wine
• Juice of 1 - 2 oranges
• 1 onion, chopped
• 3 cloves of garlic, chopped
• 3 bay leaves
• 1 or 2 chicken livers.

• Gently fry the onion and liver in a pan big enough to accommodate all the ingredients, adding the garlic once the onion is translucent. Fry together for a minute or so.
• Pour in the wine and the juice of one orange, and add the bay leaves. Simmer the gravy until it has reduced by two thirds. It will take quite a while, but you can do this bit in advance. If the wine still tastes too sour, add some water or more orange juice and cook for longer.
• Once the goose is cooked and resting on a dish, pour the fat out of the roasting tin (save it for future roast veg), and put the tin over a hot ring. When it’s sizzling, deglaze with water, and add this rich stock to the rest of the gravy.
• Pour any juices that have leached out of the goose into the gravy.
• Season generously and taste. Strain if you like. If you want to thicken the gravy, use a couple of mashed up roast potatoes at the end.

Serve with a deep, rich, spicy, velvety red wine, like a decent Bordeaux or a Montravel.

Do you have any recipes you would like to share? Take a look at our France Forum and post your very own recipe for others to share!

http://www.FBG-Forum.com

What is the difference between a bank and a currency specialist?

Over the past week I had an interesting conversation with a France Buying Guide reader who asked me what the difference is between a bank and a currency specialist like Smart Currency Exchange. So – rather than include Charles Purdy’s usual currency update I decided to give you the low down on the differences between a bank and Smart Currency.

This is what I discovered:

- Banks offer several services, which we’re all aware of – they include cheque and savings accounts, investments, credit cards, insurance, mortgages, travel money, loans and so forth.

- Smart Currency Exchange offers only one service – helping overseas property buyers to buy and transfer currency either abroad or bring it back to the UK. By focusing on one service only, the Smart representatives are able to devote far more attention to their clients, to provide them with more currency options and more ways to make the process faster, safer, less expensive and, overall, a whole lot easier than going to a high street bank.

- Banks and currency specialists buy money from the currency market at a certain rate and then sell it on to the end user (you), making a profit. On average, banks work to a margin of up to 4% more than the margin taken by Smart Currency. That means that if you’re paying Smart £100,000 for euros or US$’s you would pay a bank £104,000. In other words, you’d pay the bank £4,000 more for a reduced level of service! Don’t these banks really make you mad?!

When talking to Charles I said, ‘Let me see if I understand this. Going to Smart rather than a bank is like going to a specialist kitchen company rather than going to B&Q?’

Charles responded, ‘You have the right idea, however when going to a specialist kitchen company, most people pay more for the quality products and high expertise. With Smart, our clients not only get an incredible level of service and expertise but they also save a substantial amount of money. When comparing our rates against the banks’, many clients have estimated savings in the £10,000 range!”

I also asked Charles about the safety and security of using Smart versus a bank. Charles explained to me that all client funds that come and go through Smart are processed at the Bank of Ireland. The funds come in, are exchanged and transferred out. Furthermore, all funds held at the Bank of Ireland are 100% guaranteed by the Irish government.

Since I was on a roll and eager to find out more, I asked Charles about the terrible state of the Euro…is there a light at the end of the tunnel? Charles explained that no one can predict what’s going to happen. However, overseas property buyers can make sure that it doesn’t get any worse for them than it already is.

Apparently, you can reserve a rate today and pay for it later. As I write, I think the Euro rate is around 1.11 to the pound. Charles explained that clients can reserve money, say £100,000 worth at 1.11 today and then actually pay for it in 6 months time. It’s entirely possible that the rate will go down to, dare I say, 1.05. By reserving money now, you don’t have to worry about what you will be paying in 6 month’s time – you will have locked it in to 1.11!

Anyway – I found my chat with Charles to be extremely interesting. If you’re interested in more information on Smart Currency Exchange, check out their website on www.SmartCurrencyExchange.com – there’s loads of information on how the process works and what is involved. You can apply online and there are no costs or fees associated with the trading facility. It’s well worth your time to check it out.

To read the latest on Serling and the Euro go to: http://www.FranceBuyingGuide.com/Currency181208.htm

Why overseas property buyers lose money...
...and how you can avoid it!

This 10-page educational report outlines:

• Case Study: When Property Buyer, Mr Reed, Purchased an Overseas Property, he Made Three Mistakes that Cost Him £10,256...learn how you can avoid them...
  
  
• How the Banks make HUGE profits from their long-standing unsuspecting customers
  
  
• Ways to safeguard yourself against adverse fluctuations in exchange rates (or in other words, helping you to keep your money in your pocket)
  
  
• The entire process of moving money from the UK to any overseas location, so that you're armed with all the knowledge you need to make intelligent decisions about your money
  
  
• How you can ultimately save £100’s and £1000’s so that you have ample money to buy furniture and white goods…
  
  
• More case studies of people that lost money due to foreign currency strengthening against the pound, so that you learn from other peoples mistakes rather than your own!
  

And just a couple remarks about the report from our readers...

" We have found your free report to be extremely helpful... Wendy Watson"

"I have read and absorbed the information in the stories outlining the mistakes which the uninitiated can make when transferring currency. It is very illuminating and essential that any one,like myself, who is in the process of buying an overseas property should be aware of. I would go so far as to say that every agent selling overseas properties should be compelled to advise their prospective purchasers that it is paramount that they use a currency expert such as yourselves. Regards, Eric Thomas"

To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm

To get a Better-than-Bank rate go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
or call Carl on 08081 630 102 freephone.

A beautifully renovated old townhouse in the heart of Ste. Foy la Grande, Gironde

This is a lovely townhouse, totally renovated, just pack your bags and move in! It has 2 bedrooms, a large open plan living/dining/kitchen area and stone walls. There is a terrace area off the living room which is a lovely place to have breakfast or simply relax. It is situated in Ste. Foy la Grande, a glorious village, and is within walking distance of shops, bars restaurants as well as the Saturday market. It is also only 20 minutes away from Bergerac airport. The price? At just 141,700 euros, it is an absolute snip and in today’s market, you are likely to be able to strike a bargain too.

For more information on this property or indeed any others, just call or email us or simply fill out our property form with your requirements. We will be happy to beaver away on your behalf!

http://www.FranceBuyingGuide.com/property.htm

Ownership of your new French property

I am often asked about the best way to purchase your property in France and certainly there are choices on how to structure the ownership. I asked our recommended solicitor about this and here is what he recommends:

Basics on the ownership structure of your French Property

When you purchase a property in France, you may be at a loss as to which ownership structure to choose. French Inheritance Law is very different from the English system. The surviving partner will not automatically inherit on the first death. We are going to outline some of the various forms of ownership structure which can address the transmission of the French property on death.

En Indivision
This is the standard French ownership structure, the property will pass according to French Inheritance Law and French Inheritance Tax, in which a couple are joint owners, and you each own a portion of the property. On the death of the first co owner, a set proportion of his or her share of the property will pass to reserved heirs, which are the deceased’s natural children.

The remaining portion of the property, the size of which depends on the number of children, can be left to any third party (surviving co owner, partner, spouse, or the children). By Will, you can leave the following options to that third party:
1. an absolute interest (or full ownership) in a portion (one half, one third, or one quarter depending on the number of children you have) of the French property.
2. a life interest (usufruit) on the deceased’s share of the French property.
3. an absolute interest (or full ownership) in one quarter, and a life interest in the remaining three quarters of the deceased’s portion of the property (this option can only be to the benefit of the surviving spouse).

In the absence of children, a surviving spouse, or otherwise surviving parents, will be reserved beneficiaries. If there are no reserved heirs, the property can be left to whoever you want.

Tontine Clause
The tontine clause means that on the death of the first partner, the surviving co-owner will inherit the share of the deceased, and will be considered as having owned the whole property from the date of completion. It is similar to the English concept of joint tenancy.

The tontine clause can be considered as “a bet” made between two co owners, as to which one will survive the other one. Therefore a tontine clause cannot be concluded between two co owners if one of them is considered as having a greater chance of dying before the other one, such as one having been diagnosed with a terminal illness, if there is a significant age gap, etc…

The tontine clause is simply a clause inserted into the acte de vente prior to signature. It cannot be added after the acte de vente, or final deed, has been signed.

On the death of the first co owner, French inheritance Tax will be payable, unless the value of the property is less than 76,000€.

The level of inheritance tax which would be payable by the survivor would depend as to the relationship between the deceased and the survivor (whether they are married, unmarried, or blood related). Buyers should note that unmarried couples have a potential inheritance tax liability between them of 60%.

Change of marriage regime
This ownership structure is only possible for married couple purchasing a property together.

British married couples are considered, under French law, as married under a pre-nuptial agreement equivalent to the French regime of séparation de biens. This means that what belongs to the husband belongs to the husband only, and what belongs to the wife belongs to the wife. You could change this to a marriage contract of communauté de biens which could apply to the French Property only. With this new marriage contract, what belongs to the husband also belongs to the wife and vice versa.

On the death of the first spouse the surviving spouse will inherit the property, and pay only 1% of the value of the property which is part of the communauté de biens. There would be no liability to French inheritance tax on that property.

SCI
It is possible for you to own the property through an SCI, which is a form of French company. The SCI would own the French property, and you would own the shares of the SCI. It is a fiscally transparent company, and the shareholders will be taxed as individual, and will not be subject to corporate tax. A minimum of two shareholders is required, but there is no maximum.

The main interest of the SCI is that the shares will pass under UK Law, as, under French Law, movable assets pass according to the Law of the country where its owner is domiciled. Therefore, by UK Will, you could gift your share of the French SCI to whoever you want. However the transfer (sale or inheritance) of the shares will be subject to French Capital Gains Tax, or French inheritance Tax.

Again French Inheritance Tax will vary according to the relationship between the deceased and the beneficiary. Specific tax allowances and rate of Inheritance tax would apply between spouses, children and parents, siblings, etc…

PACS
The PACS is a French Civil partnership which can be signed by same or different sex couple. It is not as advantageous as a British Civil Partnership Act agreement, in which as the partners are treated as if they were a married couple.

The PACS can only be concluded if, both parties are resident in France or at least one of the parties is French National.

On the death of the first partner, his/her survivor benefits from a tax allowance of 57,000€. The next slice of 15,000€ is taxed at 40%, and anything above this is taxed at 50%.

Summary
The above is a very brief summary of some options available. One of these is likely to be more appropriate than the others, but it depends on your personal situation, whether you are married, if you have children, and to whom you want the property to pass to on your death. It is recommended that you seek legal advice to choose the best form of ownership structure so that you are informed of the advantages/disadvantages of each option in your particular case. Effectively, the option chosen may enable you to pass the property to whomever you want, but may not always be the most tax efficient solution.

We can help you plan your purchase in its entirety! Please take a look at our resources form and feel free to fill it in and send back to us and we promise to do our best to point you in the right direction for your French purchase.

http://www.FranceBuyingGuide.com/resources.htm

Let me help you...

Learning the Language

I mentioned learning French before you buy that dream house: below is a link to a language learning resource with a good demonstration available before you decide whether to purchase or not. There are various levels to choose from and for really very reasonable prices. I tried the PC version which was entertaining and educational – it would be easy to learn 6 new words in just a few minutes!

The site is really worth looking at if you would like to enhance your language knowledge. Just follow the link below, click on the French flag and then follow the demo. Let me know what you think! Actually I loved the very useful way that they tweaked the memory – they relate a French word to an English word or phrase that you already know. So, for instance, the French for THE RABBIT is LE LAPIN; they then ask you to imagine a RABBIT LAPPING at a bowl of water…clever huh? By the same token, the French for THE HEDGEHOG is LE HERISSON, so they ask you to imagine that your HAIRY SON looks like a HEDGEHOG …clever don’t you think?!!

Here is the link: see what you think… Language


Insurance

One of the things I enjoy most is when we source a really reliable and professional service for you that comes highly recommended by fellow readers. Once again, the response we have to the overseas property insurance company I talked about before has had several readers writing back to tell us how great they are. Take a look at our website for them: just click on: Insurance Quote and you will find that getting a quote from them is simplicity itself.

Top Tip

Please just remember that property sales are not as frequent in France now – along with most of the world! It is therefore even more important that you buy through a reputable property dealer and that you use a reputable lawyer to assist you in the buying process. We can help here - we have people that other France Buying Guide readers have used and found to be both reliable and efficient. Just phone us on 0207 898 0549 or fill in the form at: http://www.FranceBuyingGuide.com/resources.htm

and we will immediately get in touch and discuss your requirements with you.

France Property Buying & Investment Guide

If you haven't already purchased our excellent FULL Guide...why not get a copy today?

The completely educational guide covers the start to finish process of buying a property in France. Every step is outlined starting with the initial idea to buy in France all the way through to areas, how to buy land, investment options and many top tips. This guide is for anyone thinking about or currently in the process of buying property or land in France.

In the course of three years our Guide has been graded a 9 out of 10 and we’ve received huge amounts of positive feedback.

There’s a money-back guarantee if you don’t like the Guide so there’s no risk in buying one – please get yourself a copy to ensure you know what to do and what not to do when buying in France.

More information about the Guide got to: http://www.FranceBuyingGuide.com/guide.htm

Christmas in France

As you gather your family and friends around you this Christmas, think about perhaps spending NEXT Christmas in your new French home! In France, the grey December days of winter become magically transformed by a riot of colour as Christmas approaches. In many parts the roofs are covered in snow with perhaps snowmen in the yards, the roads and shops are decorated in bright colours and sparkling lights, the insides of houses are laden with ivy, garlands, candles and more often than not a warming fire in the hearth. Then there is a great celebration for New Year…

I leave you with a heart-warming testimonial from two of our lovely readers, David and Linda:

Hi Alexis and Claire

Just thought we would let you know that we have found our dream house in France. It's in Deux Sevres, a beautiful old farm house about 3 kms from Moncoutant.

We would like to thank you for all your help and to say that we think that you are amazing! What a wonderful service you give to potential house buyers and to think you do all this for free, not like some companies I could mention.

We were actually approached by one company after we visited the show at Olympia who wanted to charge us over 8,000 euros just for arranging visits and a hand holding service like yours.

We will keep in touch and let you know when we are actually moving, which should be around the end of January next year.

Once again may we say a big thank you.

Kind Regards
Dave & Linda G

If you would like us to help you in the same way we did David and Linda, just let us know!

So until next year, I wish you a fabulous festive season. Don’t forget to come and say hello to us if you can at the France Show at Earl’s Court and again, do pop in for a coffee any time to our offices. Just pick up that phone and ask for me or Claire – let’s make that New Year’s resolution come true!

Warm regards,

Alexis
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)
mailto:Alexis@overseasguidescompany.com