If you're considering buying a property and moving to France, do so immediately. And if you already live here, stay put. Because we've officially got the coolest president. Well, the second coolest after Berlusconi. As not only does young Sarkozy wear heels a girl would envy he is also considering abolishing the Wealth Tax. It is of course a totally transparent bid to attract more wealthy expats to come live in France; no Robin hood tights hanging out to dry over the Elysée Palace fireplaces that's for sure. But, hey, if it means hundreds of wealthy Anglophones plan to escape the cold and move to the Riviera I'll be head of the welcome committee at Nice airport.

The French government tax seminar, entitled "Patrimoine et Fiscalité", was held on 3rd March and also on the hot tax topic table is the not so great news that Sarkozy's emblematic 50% tax shield (Bouclier Fiscal) will also go by the by. Boo hoo. This very nice shield protected anyone from ever paying more than 50% income tax. But I guess El Gov. will have to stuff its coffers with alternative booty if the Wealth Tax goes.

Another Sarkozy proposition is to replace the abolished Wealth Tax (on capital) with a new tax on the income from personal wealth instead. So the key is to be 'capital rich but income poor' on French paper. Poor/poor also works. To a degree.

And regarding your Riviera home or homes. Here's the scoop. If you're resident and you actually live in your main home, and not in some snazzy beach front hotel to escape the kids, it will be exempt from capital gains tax. Sarkozy allegedly wants to push home ownership as a bid to offer security to families. Frankly I think you need to own at least 7 homes at any point in time in order to feel really secure. Your secondary Riviera residence however will still be liable to capital gains tax. But there is a reduced liability based on length of ownership. If you've owned your second home for 15 years or more it will be completely exempt. So sit tight and relax with a few cocktails until circa 2026.

With these tax reforms in place could France become a serious alternative to residing in the UK? Especially if the pound manages to strengthen? With years of high taxation and less public services on a very bleak UK horizon, not to mention the weather, I think it is very probable that we will see many more a Brit living abroad. And only a few more months to go as all will be revealed tax-wise in June 2011.

Luckily Big Boss doesn't pay me enough for any of the above to matter. Phew.

He'll be back. And so will MIPTV. In Cannes. Arnold Schwarzenegger (63, can you believe it?) can multi-task, it's official. He's a bodybuilder (way back when he was 15 he picked up his first pair of weights ... >> READ MORE

Monte-Carlo Masters 2011 - Will Rafa make it seven in a row? The ATP Men's Professional Tennis tour returns to Europe this April, in the ever-stylish surroundings of the Monte-Carlo ... >> READ MORE

The Antibes Yacht Show kicks off the 2011 season The Antibes Yacht Show runs from April 7th - 10th, 2011 at the Port Vauban and promises to be as exciting as previous years. READ MORE