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If you are thinking of retiring to France, at Regency FX we help you achieve the most from the currency you are converting.
It’s a simple process and our retiring to France guide covers all the main points you will need to consider. Retiring in France is very appealing and increasing numbers of Brits are retiring to France from the UK for so many reasons. Be it the lifestyle, weather, beautiful surroundings and so much more.
As an independent currency specialist, we have lower overheads than the banks enabling us to pass on the savings to you.
We can also discuss and agree on the right time to exchange your money, rather than using a bank or online-only system and having to accept the rate they give you on the day. Retiring in France for UK Citizens has never been more affordable, we explain if there are any retiring in France taxes which you need to be aware of.
I am certain you have thought about retiring to France before, well I am going to explain in our Retiring to France Guide all you need to know to make the most of retiring in France for UK citizens.
We will even cover the impact of taxes when retiring in France and how this may affect your income.
There is so much to think about as you take the big step and make your decision of retiring to France; at Regency FX we want you to have all the facts before you take that big step.
The most crucial 6 steps to retiring in France are: take out health insurance policy, find the specific place you want to live, apply for a long stay visa, decide for your belongings to get across, notify HMRC that you are leaving the UK and apply to get your UK state pension in France, apply for a residency permit and finally register for healthcare and obtain your carte vitale.
If you want to stay in France for longer than 3 months, then you are required to get a visa. This certain visa is known as a “Type D” it runs out after every year so it needs to be renewed every year; after you have been living in France for 5 years then you can apply for permanent residency which might make things much easier for you!
To apply for the visa, you will need to go to France Consulate in London website, create a France-Visas account and upload certain documents that are required which are usually forms of identification and proof of residency in France (could be something like a rental agreement).
As you can imagine there are many benefits to retiring in France, I am going to explain a few for you!
One of the first ones is that France is remarkably close to the UK as it is only across the channel, therefore, if friends and family want to visit it makes it a whole lot easier for this to happen.
An obvious benefit is the climate in France as most of the country is usually warm. However, if you have a soft spot for the snowy climate then you are in luck as France has the best of both worlds!
France has amazing healthcare, previously it has been ranked the best in the whole world! It is now in the top 10 globally.
Another pro is the food and drink in France, there are some of the best restaurants in the world located in France and they are known for their fine dining. France is also very well-known for their wine, as they have a huge variety of mouth-watering wines!
Finally, France also has a fabulous transport system, their rail system provides discount for over 60s making it so much easier and efficient to travel around France!
It is a massive decision choosing where to settle down especially in a country that you are unfamiliar with, so I am going to briefly explain to you a few different areas within France.
If you are into the countryside, then I would suggest Poitou-Charentes. This area is known for the lovely countryside it has as well as the nice weather and amazing scenery.
For the people that prefer a more chilled, relaxed atmosphere then I would suggest Aquitaine in the south west. There are a lot of British expats in this area so you will be familiar with some of the people. This area of France is very rural and the property here is reasonably priced compared to some places!
If you enjoy cities, shopping, events, and festivals then I would suggest Brittany. It is also extremely close to the UK; so even easier for friends or family to visit! This area of France is also known for cheap property prices!
For more of a sunny atmosphere then I would recommend Cote d’Azur. This area of France is most known for the delightful blue seas and the coastlines!
Finally, if you really like the city vibe then Parris would be my suggestion. It is on the more expensive sides of things however it has got a lot to offer. It is one of the world’s best cities with luxurious food, culture, and the amazing history behind the area.
When looking at property in France you will need to educate yourself with how the rea estate market works over there and you are required to pay property taxes.
Regarding your pension, you can claim your UK pension in France. There is a high chance that you will be taxed on any income from the UK; you will not be double taxed as there is an agreement in place.
Carte vitale is a social security card for healthcare in France, you can only get this if you are a permanent resident. After living in France for 3 months you can apply for cover by the French healthcare system. In addition to sorting out healthcare you will also need to get some top-up health insurance. There is a chance you will be covered for this; you will need to check to find out.
After retirement in France, you will get taxed on your UK pension and any other income. If you have assets over €1.3m then you will also need to pay French wealth tax (impot de solidarite sur la fortune ISF); anything over the initial €800,000 you will need to pay tax for.
Finally, you can drive in France with a UK driving license for now however, come December 2021 you will need to check the government’s website to see if you still can be due to the UK going through Brexit.
Regency FX are a UK based independent currency broker, specialising in high volume transfers.
We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.
All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.
The important thing is the comparison, online rates shown on Google and other search engines are not always accurate for the consumer.
They can often refer to the rates that banks exchange at rather than what is available to you, the customer.
Even if you are just looking for property at this stage it is worth getting in touch to discuss your options.
We can monitor the market on your behalf enabling you to budget more effectively.
As a first-class currency transfer service, here at Regency FX we endeavour to get the best available rate regardless of how much you are transacting.
Get a quote and see how we stack up.