Answers - Real Estate

If you have been dreaming about buying an apartment or house in France but have hesitated, thinking that it must be too difficult for a foreigner, it is time to think again. The process of buying property in France is a lot easier than mo

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

st people believe. Here are a few basic factors that you should consider if you are indeed interested in acquiring real estate in France.

1. It is no harder to buy a property in France than in the USA

Despite popular images of a

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

omplicated Napoleonic legal code, modern French property laws make it easy for anyone, even a foreigner, to buy property. Thanks to the Notaire system, government regulation of closing costs and the reliability of sales deeds, the proce

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

s of buying property in France can be less nerve-wracking than transactions in other countries.

2. The Notaire System is a key factor in all French property transactions

A Notaire is the French lawyer, trained specifically in Fre

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

nch real property law, who prepares the compromis de vente (purchase agreement) and all other documents, including the final sales deed, relating to the transfer of real property in France. Without exception, all buying and selling of pro

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

erty in France must be done under the auspices of a Notaire. The Notaire system is the main reason that real estate transactions generally go so smoothly in France.

3. You don’t have to speak French to buy a property

France has

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

hanged a lot in the past thirty years. Gone are the days when you would have trouble finding someone in France who would even say a word to you in English. France has moved on from this parochial attitude, and the change is especially vis

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ible in the field of real estate.

A competent property acquisition company can provide bilingual staff to help you with the purchase of a property in France. On the buyer's behalf the company can also engage a Notaire who is fluent in E

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

glish and experienced with purchases made by overseas buyers.

Of course it is great to learn French to enhance your long-term enjoyment of France, but you don’t have to do it immediately.

4. You need to open a bank account in France

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

n order to buy property

To purchase a property you must have an account with a French bank, optimally with a bank that can accept and convert currency from other countries. The account should be a normal checking account so that you

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

an arrange for automatic withdrawals to pay recurring charges like utility bills and mortgage payments.

It is not difficult to open a French bank account. The whole process takes only a few minutes. The account may be opened by presentin

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

g proof of identity (generally a passport will do), and signing a few documents, including a signature card.

5. You can get a mortgage in France

If you require a mortgage you can get one from a French bank. A good property acquis

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

tion company can suggest qualified lenders who are accustomed to working with foreign buyers.

As French law requires life insurance on the loan so that the lender is paid in case of the borrower's death, older buyers may have to meet cer

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ain medical requirements and may have slightly higher payments.

Interest rates are currently around 4-4.5 percent on a fixed-rate loan. This rate includes the cost of life insurance on the loan. For this reason, buyers over the age of 60

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

will pay a slightly higher rate.

Down payments range from 10 to 50%, but if you are not a French citizen the down payment will generally be at least 20%.

One strategy for financing the purchase of a property in France is to take a seco

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

d mortgage on a property in your own country and then use the proceeds to pay for your property in France.

6. Property taxes and insurance are no higher than in the United States or United Kingdom

Property taxes in France are gen

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

rally lower - in some cases considerably so - than those paid by property owners in the United States.

By way of example, annual taxes (including property taxes and a local inhabitant's tax) on a property valued at ? 600,000 in Provence

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

in the d?partement of Vaucluse are around 1,400 ? annually. Taxes will vary according to the local jurisdiction.

Similarly, insurance costs are also reasonable. Take, for example, the cost of a homeowner's insurance policy on a 300 m2 (3

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

200 sq. ft.) house in Provence with a pool and contents insured for 40,000 ?. The annual premium is around 800 ?. The premium for an apartment of 100 m2 (1,075 sq. ft.) in the 7th arrondissement of Paris with contents insured for 25,000 ?

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

is 650 ?.

So, don’t let preconceptions get in the way of acquiring your dream property in France. Find a reliable bilingual property acquisition company to help you, and start looking for the house or apartment that is just right for you

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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If you have ever bought products outside of retail stores, you most likely know of the great deals that can be had from getting your items from overseas. You can get your products for a fraction of the cost. Most people are not aware that the items that they buy are usually imported, so they are not aware of the great savings they are missing out on. It can be hard for an individual to make purchases as such overseas, but for a businessperson, it can be a great asset that they can obtain quite easily.

When starting your own business it pays to jot down a business plan and that is not too hard considering that many of the business plans are already out there for the type of business which you will probably be starting.

I have to admit that I was one of those people. I left my job 3 years ago, because I thought I could make it as a business man. I never thought it would be so tough and expensive. I made a lot of mistakes and learned a lot at the same time.

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Answers - Buying a Property in France: It is Easier than you think!

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