Buy vineyard, Comrades Brezeme make the wine

originally posted by pab:
In France since 1981, there is ISF (impot sur la fortune) for people with a fortune more than 1 300 000 (real estate, portfolio...).
If somebody invest money in a vineyard, it's possible to have an "abattement" of 75% on ISF ("défiscalisation"). That's why vigneron try to seduce french individual investors.

But much of the "defiscalisation" are bad investement, not speculativ with too much fee. But, people prefer lose money than give to the State.

Here, I don't understand how "a new old" (sic) vineyards in St Julien en St Alban could be so speculativ. I don't understand what to do every year with thousand and thousand bootles of a middle-of-the road estate. Third, if you work on your own vineyard and farmer vineyard, I don't need to ask witch one will receive the best treatment...

Best regards
pierre-alain benoit
Click to expand...

I agree that "new old" is an odd locution, but I took it to mean that they were old vineyards that would be new to the Texier portfolio (and, if they have not been maintained well, might need work in the vineyards to make them workable again, and would thus be in that sense new).

At least part of the speculation would be on Eric's skill as a winemaker and his success in selling St. Julien en St. Alban already at somewhat more, in the US, at least, than 5 Euros a bottle.

I am very bullish on Texier wines. But I would certainly attend to the old joke about how to make $100,000 in the wine business if you are really thinking of this as a business investment. I am guessing that people who are interested have other notions than just profit in mind.
 
originally posted by Jay Miller:
originally posted by Bill Lundstrom:
originally posted by MarkS:
Also, the US Government don't take too kindly to citizens owning foreign assets.
Click to expand...

lots of americans own houses in europe. or do you mean something else?
Click to expand...

Most foreign banks will not allow US citizens to open bank accounts due to new money laundering restrictions. I'm not sure how they might impact foreign real estate.
Click to expand...
domestic banks require proof of residency in the state that you would like to open an account.
 
originally posted by Tom Glasgow:
originally posted by Jay Miller:
originally posted by Bill Lundstrom:
originally posted by MarkS:
Also, the US Government don't take too kindly to citizens owning foreign assets.
Click to expand...

lots of americans own houses in europe. or do you mean something else?
Click to expand...

Most foreign banks will not allow US citizens to open bank accounts due to new money laundering restrictions. I'm not sure how they might impact foreign real estate.
Click to expand...
domestic banks require proof of residency in the state that you would like to open an account.
Click to expand...

domestic, meaning US? if so, no they don't. as long as you have proper ID, like an unexpired drivers license, you can cross state lines and open a bank account.
 
Fuck, I am so sorry that pab is not going to joign us...

I'll miss the risotto.

I am afraid that this will keep most of you guys away from my skimpy nobleless project.
At least he won't quit posting his brilliant prose here. Such a relief.
I would have missed his genius for neologism such as "densité de raisin"...

I am still wondering why he keeps posting on boards like La Passion du Vin since the population there doesn't seem to be convinced by his tasting skills and objectivity?
Any information if Zylberberg still in NY? or did he move to Paris?

BTW pab, isn't it true that your very own heroe Mr Richard Leroy took some vineyards in fermage? 0.32 ha not long ago? Do you suspect him to treat these vines differently too?

Zylberberg definitely...
 
originally posted by Jay Miller:
originally posted by Bill Lundstrom:
originally posted by MarkS:
Also, the US Government don't take too kindly to citizens owning foreign assets.
Click to expand...

lots of americans own houses in europe. or do you mean something else?
Click to expand...

Most foreign banks will not allow US citizens to open bank accounts due to new money laundering restrictions. I'm not sure how they might impact foreign real estate.
Click to expand...

That is simply not true. There is paperwork, yes.
 
originally posted by kirk wallace:
originally posted by Jay Miller:
originally posted by Bill Lundstrom:
originally posted by MarkS:
Also, the US Government don't take too kindly to citizens owning foreign assets.
Click to expand...

lots of americans own houses in europe. or do you mean something else?
Click to expand...

Most foreign banks will not allow US citizens to open bank accounts due to new money laundering restrictions. I'm not sure how they might impact foreign real estate.
Click to expand...

That is simply not true. There is paperwork, yes.
Click to expand...

well, many rather than most perhaps? Though the articles I've read have made I seem like an epidemic. They don't want to deal with the potential risk from the US government.
 
As noted above, because of the FATCA burden, some smaller institutions have stopped taking US customers. Not the case with the larger banks.
 
originally posted by Jay Miller:
originally posted by kirk wallace:
originally posted by Jay Miller:
originally posted by Bill Lundstrom:
originally posted by MarkS:
Also, the US Government don't take too kindly to citizens owning foreign assets.
Click to expand...

lots of americans own houses in europe. or do you mean something else?
Click to expand...

Most foreign banks will not allow US citizens to open bank accounts due to new money laundering restrictions. I'm not sure how they might impact foreign real estate.
Click to expand...

That is simply not true. There is paperwork, yes.
Click to expand...

well, many rather than most perhaps? Though the articles I've read have made I seem like an epidemic. They don't want to deal with the potential risk from the US government.
Click to expand...

I've had accounts in two different French banks over the last 10 or so years that we've owned our house. As Kirk said, there is a lot of paperwork. The last time I changed our accounts and bought in fistfuls of documents (including birth certificates and marriage certificates), the woman helping me asked if it was like this in the US and I told her that in the time it was taking me to open an account here, I could buy a bank in the US. To be fair, one's property taxes, home insurance and utility bills are all automatically taken out of one's bank account in France so the reliability of your income matters more to them. But I don't know of any of the legal restrictions on banks or owning property that anyone has been talking about.
 
originally posted by Brézème:
BTW guys, why would one need a french bank account for this operation?
Click to expand...

I don't see why you would. The topic came up only because Jay said you couldn't have one. As thread drift goes, that's small potatoes for this place, though. Note how the thread on Downton Abbey has become one on aging Muscadet.
 
originally posted by Jonathan Loesberg:
originally posted by Brézème:
BTW guys, why would one need a french bank account for this operation?
Click to expand...

I don't see why you would. The topic came up only because Jay said you couldn't have one. As thread drift goes, that's small potatoes for this place, though. Note how the thread on Downton Abbey has become one on aging Muscadet.
Click to expand...

That was kind of on purpose.
 
originally posted by Brézème:
Fuck, I am so sorry that pab is not going to joign us...

I'll miss the risotto.

I am afraid that this will keep most of you guys away from my skimpy nobleless project.
At least he won't quit posting his brilliant prose here. Such a relief.
I would have missed his genius for neologism such as "densité de raisin"...

I am still wondering why he keeps posting on boards like La Passion du Vin since the population there doesn't seem to be convinced by his tasting skills and objectivity?
Is
Any information if Zylberberg still in NY? or did he move to Paris?

BTW pab, isn't it true that your very own heroe Mr Richard Leroy took some vineyards in fermage? 0.32 ha not long ago? Do you suspect him to treat these vines differently too?

Zylberberg definitely...
Click to expand...
I don't suspect Richard Leroy to treat the vines differently. I know he's treating the vines differently. You should call him. He will explain you. He's a good teacher.
You should call either Thierry allemand about the selling of his estate.
You seem to be nervous and it's a bad attitude for the futur investors.
I'm still waiting to understand how vineyard in "triffouillis-les-oies" (Saint-Julien-en-Saint-Alban - first time I readed this name and I used Google Maps and localized 15 km near the nuclear plant of Cruas) can be a speculativ investment.
I'm still waiting to know what to do with 300 liters or thousand and thousand bottles of Côtes-du-Rhône every year for a non-alcoholic guy (sangria, big party...).
I'm still convaincted that a fermage is a fermage.
Best regards
pierre-alain benoit
 
originally posted by pab:
originally posted by Brézème:
Fuck, I am so sorry that pab is not going to joign us...

I'll miss the risotto.

I am afraid that this will keep most of you guys away from my skimpy nobleless project.
At least he won't quit posting his brilliant prose here. Such a relief.
I would have missed his genius for neologism such as "densité de raisin"...

I am still wondering why he keeps posting on boards like La Passion du Vin since the population there doesn't seem to be convinced by his tasting skills and objectivity?
Is
Any information if Zylberberg still in NY? or did he move to Paris?

BTW pab, isn't it true that your very own heroe Mr Richard Leroy took some vineyards in fermage? 0.32 ha not long ago? Do you suspect him to treat these vines differently too?

Zylberberg definitely...
Click to expand...
I don't suspect Richard Leroy to treat the vines differently. I know he's treating the vines differently. You should call him. He will explain you. He's a good teacher.
You should call either Thierry allemand about the selling of his estate.
You seem to be nervous and it's a bad attitude for the futur investors.
I'm still waiting to understand how vineyard in "triffouillis-les-oies" (Saint-Julien-en-Saint-Alban - first time I readed this name and I used Google Maps and localized 15 km near the nuclear plant of Cruas) can be a speculativ investment.
I'm still waiting to know what to do with 300 liters or thousand and thousand bottles of Côtes-du-Rhône every year for a non-alcoholic guy (sangria, big party...).
I'm still convaincted that a fermage is a fermage.
Best regards
pierre-alain benoit
Click to expand...

jesus, go away.
 
originally posted by Jonathan Loesberg:
The last time I changed our accounts and bought in fistfuls of documents (including birth certificates and marriage certificates), the woman helping me asked if it was like this in the US and I told her that in the time it was taking me to open an account here, I could buy a bank in the US.
Click to expand...

Not so sure about that. It usually takes about four to six months to buy a bank these days, assuming there are no regulatory or compliance problems that need to be resolved. A recent deal that was not free of regulatory problems took over three years.
 
originally posted by Michael Lewis:
originally posted by Jonathan Loesberg:
The last time I changed our accounts and bought in fistfuls of documents (including birth certificates and marriage certificates), the woman helping me asked if it was like this in the US and I told her that in the time it was taking me to open an account here, I could buy a bank in the US.
Click to expand...

Not so sure about that. It usually takes about four to six months to buy a bank these days, assuming there are no regulatory or compliance problems that need to be resolved. A recent deal that was not free of regulatory problems took over three years.
Click to expand...

i am very familiar with that deal. unfortunately....
 
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