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Société Civile Immobilère

English translation: Real Estate Investment Company (SCI)

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00:40 Sep 9, 2001
French to English translations [PRO]
Bus/Financial
French term or phrase: Société Civile Immobilère
I believe it means:Investment company that rents out property. But what is the exact translation in English?
bharg
India
Local time: 04:32
English translation:Real Estate Investment Company (SCI)
Explanation:
This is the phrase that best captures, I think, this peculiar form of company rather unique to France. Widely popular as a form of buying real estate among families wishing to avoid excessive inheritance taxes in the 1960s, it is less popular now because of changes in the inheritance laws. Typically a well-endowed family could establish an SCI to buy or construct a new home and provide in the articles of incorporation a means for succession that effectively side-stepped conventional inheritance. (Not surprisingly, there have been a lot of scandals related to the abuse of this legal device.) Nevertheless, it is not limited to use by private individuals as a means of holding "private property":it is also used by large corporations as a means to develop condominiums or individual large estates. This translation Real Estate Investment Company is inclusive enough to permit all these usages. The key point is that all sociétés are civiles, but a company designated Société civile immobilière is contrasted with sociétés commerciales in particular.

I have done quite a lot of in-depth research on this in France,preparatory to buying real estate here, and have also consulted with CPAs concerning its desirabiilty. See the following references:
Cornu, Vocabulaire judiciaire
Thierry Andrier, Guide pratique des sociétés civiles immpbilières (Paris: Litec, 1999)
Guide juridique à la Société Civile immobilière (I cannot put my hands on this one at the moment, but it is in one of those popular legal series)

Hope this helps!
Selected response from:

Germaine A Hoston
Local time: 15:02
Grading comment
Perfect - thanks a lot.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1Real Estate Investment Company (SCI)
Germaine A Hoston
5 +1Private Property Company
Poornima Iyengar
5non-trading real estate investment company
Genevieve Tournebize
5Property Company
1964
4Your definition is fine, "Investment company that rents out
Parrot


  

Answers


16 mins   confidence: Answerer confidence 5/5
Property Company


Explanation:
There are a lot of entries in google under this heading tackling with this business, amternatively real estate investment and others may have other fields as well, not exactly what you describe.
Civil, I think here means public but may give a different meaning if used .
Property Company

1964
Turkey
Local time: 02:02
Native speaker of: Native in TurkishTurkish
PRO pts in pair: 294
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1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
Private Property Company


Explanation:
SCI - Société Civile Immobilière =
Private Property Company

Please see the bilingual link below

HTH
Poornima


    Reference: http://www.buyinginfrance.com/glossary.htm
Poornima Iyengar
Local time: 04:32
Native speaker of: English
PRO pts in pair: 174

Peer comments on this answer (and responses from the answerer)
agree  BOB DE DENUS: Alternatively, Private Real Estate Company
5 hrs
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Your definition is fine, "Investment company that rents out


Explanation:
property". It's the definition of SCI in the dictionary. There's another one, though, for "Société Civile" = non-profit organization / partnership. I don't know how far you want that localized, but English-speaking countries have "Real Estate companies" selling AND renting.


    Hachette, web search
Parrot
Spain
Local time: 00:02
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861
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4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
Real Estate Investment Company (SCI)


Explanation:
This is the phrase that best captures, I think, this peculiar form of company rather unique to France. Widely popular as a form of buying real estate among families wishing to avoid excessive inheritance taxes in the 1960s, it is less popular now because of changes in the inheritance laws. Typically a well-endowed family could establish an SCI to buy or construct a new home and provide in the articles of incorporation a means for succession that effectively side-stepped conventional inheritance. (Not surprisingly, there have been a lot of scandals related to the abuse of this legal device.) Nevertheless, it is not limited to use by private individuals as a means of holding "private property":it is also used by large corporations as a means to develop condominiums or individual large estates. This translation Real Estate Investment Company is inclusive enough to permit all these usages. The key point is that all sociétés are civiles, but a company designated Société civile immobilière is contrasted with sociétés commerciales in particular.

I have done quite a lot of in-depth research on this in France,preparatory to buying real estate here, and have also consulted with CPAs concerning its desirabiilty. See the following references:
Cornu, Vocabulaire judiciaire
Thierry Andrier, Guide pratique des sociétés civiles immpbilières (Paris: Litec, 1999)
Guide juridique à la Société Civile immobilière (I cannot put my hands on this one at the moment, but it is in one of those popular legal series)

Hope this helps!

Germaine A Hoston
Local time: 15:02
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 118
Grading comment
Perfect - thanks a lot.

Peer comments on this answer (and responses from the answerer)
agree  Nikki Scott-Despaigne: UK Property Investment Company ("real estate" is perfect - for US but is not for UK - otherwise wonderful explanation)
20 hrs
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4 hrs   confidence: Answerer confidence 5/5
non-trading real estate investment company


Explanation:
It is in the dictionary Le Robert & Collins du management commercial, financier economique, juridique

Genevieve Tournebize
Local time: 17:02
Native speaker of: Native in FrenchFrench, Native in EnglishEnglish
PRO pts in pair: 28
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