Moving to France lets a person live amongst the rich culture and history of cities like Paris, the wonderfully cosy villages in the Dordogne, and meet a wealth of new neighbours that’ll soon make France feel like home.
But it’s best to understand the cost of moving to France – whether you’re coming for a short to mid stay period or you’re intending to qualify for citizenship in the future – before you make any plans. This way you’ll know what to save, how to prepare, and where would be best for you to go.
Here are 3 of the most important financial factors to think about.
Understand the Visa Requirements
Most people visiting France require either a short-stay or long-stay visa. This can cost anywhere between €9 and €90. You can find out more by visiting the official French Visa website.
Remember, you may need a visa to enter France, so check this at least 6 months in advance of your planned departure date. This will give you a chance to sort out the required paperwork and go through the full application process without any headaches.
Affording Private Health Insurance
Depending on what visa you’re on, you’ll likely be barred from receiving state-subsidised healthcare until you’ve lived in France for at least 3 months. This will account for most of any diagnosis or treatment you need, but it won’t cover all of it.
That’s why private health insurance is essential when you’re moving to France. Not only will it ensure you can access healthcare in this 3-month interim period, but it will continue to cover you even after you’ve applied for PUMA.
The cost of private health insurance tends to vary quite differently, with factors like gender and age playing a part in what you pay each month. Researching your options now can help you to form a healthcare budget, as well as scope out an affordable provider.
The Future of Your Money
If you have income streams in more than one country, consider how this will impact your finances in the long term. Spending over half the year in France means you’re subject to French taxes – and it’s best to know now what kind of tax deal France holds with your birth nation.
If your next of kin resides outside of France as well, it’s best to investigate inheritance laws as well.
Setting up a proper will that takes dual citizenship and/or French residency into account will help to keep your money safe and secure, no matter what. Work with a specialist solicitor like Harper Macleod to make sure you cover all bases, and that your will has the exact legal framework required.
Moving to France can be a wonderful life choice, but it requires plenty of preparation when it comes to your bank account. Make sure you research full entry and stay requirements, and how to access your money while in France.
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