Once you have bought your dream home in France If you would like to relocate to France or visit for longer than 90 days you will require a visa, which is easy to obtain once you are the owner of a French property. You may wish to apply for a Long stay visa valid for residence (VLS-TS).
Purchasing a property in France does not automatically grant non-EU citizens permanent residency. They must apply for a long-term visa or residence permit, fulfilling requirements such as proving sufficient financial resources and having health insurance coverage.
For any stay in France exceeding 90 days, you are required to apply in advance for a long-stay vis. In this instance your nationality does not exempt you from requirements. Whatever the duration of your planned stay, the duration of your long-stay visa must be between three months and one year.
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 »).
In accordance with the existing agreements, Australian citizens may enter and stay in France without any visa for a period up to 90 days.
312-2 of the Code on the Entry and Residence of Foreigners and the Right of Asylum) that “Any foreign national who owns a secondary residence in France may apply for a very long-stay visa authorizing him or her to stay on French territory for a period not exceeding six months per year.
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. Most retirees opt for a Visa de Long Séjour valant Titre de Séjour – Visiteur (VLS-Visiteur).
We speak to the economist who calculated the monthly income needed for couples, families, single or retired people. An economist at a leading research body says €1,634 a month for a single person, or €2,540 for a retired couple.
Can a foreigner buy a property in France? Yes, there are no restrictions on foreigners buying property in France. Even if you are not a resident, you can still buy and own French property with the option to rent it out if you want to.
However, if you want to stay longer than 90 days at a time, then you will need to apply for a visa. The process is quite simple and only costs €99. There are 2 visa options, both of which relate to temporary stays in France (of less than 12 months):
Your total stay in the Schengen area must be no more than 90 days in every 180 days. It does not matter how many countries you visit. The 180-day period keeps 'rolling'.
You hope to purchase at the beginning of an economic cycle and to sell at the peak. Economic growth will normally feed through into strong capital growth in your property. This is why I am convinced that France is the obvious choice for new property investment in Europe during 2022.
Once you have lived in France permanently for at least five years, or when your temporary residence card expires the first time, you will be eligible to apply for a permanent residence permit. By living permanently, they mean that you spend at least 183 days per year in the country.
You may apply for a resident card if you:
Arrived in France as a result of a family reunification procedure; Are joining a non European citizen who has a resident card; Meet the condition of republican integration into French society.
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.
If you plan on retiring in France, you'll find that gaining permanent residency is easier than you imagined. Like many countries in Europe, France grants residency to foreigners who can prove they can take care of themselves financially.
What happens to my State Pension if I move abroad? As long as you've paid enough National Insurance, you can claim your State Pension while living abroad. The main difference is that if the State Pension increases, you may not benefit from the extra amount if you're living in certain countries.
One thing that you do need to be aware of, is that the minimum income you will need to prove that you have, to meet the means of income requirement, is currently €1,678.95 per month (gross), which equates to around €1,329.05 per month (Net), after income tax and social contributions.
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.
Impôt sur la Fortune Immobilière (IFI) is an annual wealth tax on property in France. The tax-free allowance is €800,000 after that rates start at 0,5% and rise progressively up to 1,5%. If you are a non-resident in France, your taxable assets consist of: real estate rights and property in France.
The taxe d'habitation (sur les résidences secondaires)
This tax no longer applies to main homeowners and is now only payable by second-home owners. This means that it is now sometimes referred to as the taxe d'habitation sur les résidences secondaires, however, it is the same tax as before.
In France, there are two payments due on a capital gain, a capital gains tax (CGT) and a social levy. The standard capital gains tax on the sale of a property will remain at 19% and is only payable on a second home, if your French property is your primary residence no CGT is payable.