What Are the Requirements for Retiring to France? As a retiree, you must provide proof that you are able to support yourself for the duration of your life in France. This means being able to prove that you have sufficient income (from a pension, savings, or investment), health insurance coverage, and accommodation.
For a permanent retirement there you will require a Long Stay Visa (Visa de Long Séjour). You must apply before you move to France, via the French Consulate in London. There are various types of long stay visa.
You should apply for a long-term visa in your country from the French consulate and you will be granted a “carte de séjour visiteur”. You'll need to prove that you are financially able to live in France – a pension statement will suffice, bank statements showing savings etc.
France is definitely a wonderful place to enjoy your retirement years. If you are living on your retirement income and are looking for somewhere not quite as expensive or busy as Paris, France has many affordable places to live in.
We don't want to sound biased; we obviously love Portugal more, but all for good reason! Just to exemplify this, Portugal is elected the fourth best country to retire by the Annual Global Retirement Index 2022, while France is in seventh place.
Proof of sufficient income
Sufficient funds are typically based on France's minimum wage (SMIC), so in 2023 this would have been a monthly net income of more than €1,353 or €16,236 annually. Acceptable forms of proof might include bank statements, tax returns, or pension receipts.
No figures are provided by the French Consulate service of what level of savings can be taken into account, but it is likely to be at least 5 times the annual minimum income requirement (so €1,219 per month x 12 months x 5 years = €79,740).
Pensions are not exempt from taxation in France, however, so you must declare them and pay taxes. You may be able to apply for tax relief for some state pensions in order to pay your taxes in France.
If you spend more than 6 months a year in France, you are then considered as a French resident and must apply for a Long Stay visitor visa (visa de long séjour valant titre de séjour VLS-TS « visiteur »).
Cost of living in France is 18% cheaper than in Australia.
There are 3,996 Aussies in France. The top region is The Greater Paris region of Ile de France, where there are 1,523 Aussies, 917 of whom live in Paris, which is the top department. The top region (outside of Ile de France) is Auvergne-Rhone-Alpes with 591 people from Down Under.
The most popular retiree destinations for Australians include New Zealand, Italy, Greece, Spain and Portugal.
Another option is the visitor visa. This visa allows you to live in France even though you don't have a French spouse, a job or plans to study. You'll need a letter explaining how you intend to spend your time in France, proof you can support yourself without work and proof of medical insurance.
To stay long-term, you'll have to apply for a one-year French visa, which has the option for annual renewals. Depending on your circumstances, it can take anywhere from three to ten years to obtain permanent residency. At that point, you assume nearly all of the responsibilities of a French citizen.
CFE tax in France is paid annually by owners of furnished real estate in France and is based on the theoretical rental value of the property. If the rented property is leaseback or unfurnished, no CFE is due. The tax is usually between €100 and €1.500.
Unlike residents, non-residents in France are only taxed on their French-sourced income. Non-resident taxes are typically collected by withholding at the source. These withholding taxes are applied at progressive rates of 0%, 12%, and 20%, depending on the total amount of taxable income.
Getting Residency in France
You can buy a property in France without being a citizen however you'll need to get a Visa to live in the country and then go through the process of applying for permanent residency.
Overall, grocery shopping in France is expensive compared to many other countries.
it is still perfectly possible to move to France in 2023. If you are a UK National you can stay in France more than 90 days at a time. It is still possible for UK nationals (like Canadians, Americans & Australians) to live in France for 1 year to 4 years and also apply for permanent French Residency.
Is there a France Golden Visa program? While there is currently no French Golden Visa program like those offered by Portugal and Spain, France does offer several programs that allow individuals to obtain residency and citizenship through investment under the heading of the French Talent Passport (FTP).
Invest at least €300,000 in fixed tangible or intangible assets. Invest either directly or via a company in which they have at least a 30% shareholding. Own at least 10% of the company in which they are investing. Create or protect (or commit to create or protect) jobs within the four years following the investment.
The French Consulate in London have advised us that they will accept a minimum net income of 'around €2,000' per month for a couple with no dependants, provided your income is stable. For a single person it is €1,383 May 2023).