Commercial Rent Index capped for SMEs until 31 March 2023
In order to protect France’s purchasing power, an emergency measure has been implemented as of 18th August 2022, which caps the annual variation of the commercial rent index (ICL) at 3.5%. This is exclusively for SMEs.
The cap can be applied over four quarters: Q2 2022, Q3 2022, Q4 2022 and Q1 2023. It is applicable to SMEs as defined by the EU, i.e:
- Companies that have under 250 employees;
- Their annual turnover does not exceed €50 million, or annual balance sheet total does not exceed €43 million;
SMEs can only qualify for this scheme if they are closely controlled by another company, or if their commercial lease follows the quarterly commercial rent index.
If you wish to find out more, do not hesitate to contact us via telephone +33 (0) 1 53 93 94 20 or by mail at [email protected]. Our team of experts will happily assist you with any queries you might have.