Pros and cons of retiring in France

If you’re in two minds about packing up and setting off to France, then here are some reasons why it might just be the best decision you’ve ever made.

France is just a few hours away – by train, ferry, or aeroplane – from most European countries, and it’s just a quick flight away from the UK too. This makes it a great option if you’re planning to travel back and forth, with plenty of transport options to choose from.

Whether you’re looking for balmy summers or snowy winters, you can take your pick in France. There are four different types of climatic zones throughout the country: oceanic (in the west), continental (central and eastern France), Mediterranean (south-eastern) and mountainous.

It’s cheaper to live in France than the UK, where the cost of living is estimated to be 21% more than across the Channel.

As a non-EU citizen retiring in France, you can apply for a long-stay visa which gives you 12 months before you need to renew. After just a few years you can apply for permanent residency – which we will explore later in this article.

As we get older, easy medical access becomes an important part of life, so it’s good to know that the French healthcare system is rated as one of the best in the world. In fact, in 2023, it was ranked 9th in the world by the World Health Organisation.

If you’re hoping to find a community of expats upon your big move, then France is a popular choice. According to United Nations 2019 data, it was 7th out of the top ten countries Brits choose to move to.

Approximately 177,000 Brits live in France full time and make up 24 percent of foreigners living there. Popular places for Brits to set up home include: Lyon, Montpellier, Dordogne, Bordeaux and Pau.

Knowing that so many people have relocated to France from the UK may feel reassuring if you’re considering this life-changing move. It is the second most popular European country for Brits after Spain.

Despite Brexit, it is still possible to live in France permanently as a UK citizen if you meet the visa requirements.

There are two types of visas you can apply for:

• A long stay visitor visa allows you to live in France for 12 months.
• A temporary long stay visitor visa allows you to live in France for three to six months.

The long-stay visa is equivalent to a Schengen visa, so you can move around the Schengen Area outside of France for up to 90 days (not exceeding 180 days).

As a retired person, once you’ve lived in France for three years, you can apply for a Carte de Sejour for Retirees which gives you permanent residency.

It’s essential you understand the rules and regulations around your retirement income and any supplemental income before making an international move.

If you have a UK state or workplace pension, you will still be able to receive it when you move to France. Private pensions can be transferred to France via a Qualifying Recognised Overseas Pension Scheme (QROPS) which must be approved by the HMRC.

Once you are a tax resident in France, then you will need to pay tax on all your global earnings. Even if you are not earning an income, you will still need to complete an annual tax declaration to ensure you are paying the correct amount of tax in the correct country.

You will still receive your pension if you move from the UK to France.

The UK and France have a double taxation agreement, which means you don’t pay tax on the same income in both countries.

France has one of the world’s best healthcare systems, so you can feel safe in the knowledge that you will be looked after in your golden years. However, you will need to have some form of healthcare insurance and make financial contributions towards your care.

Once you have been living in France for three months (and have applied for the correct visa) you will receive a healthcare number (like a National Insurance Number in the UK) and will be eligible for up to 80% off medical services.

Prices to see general practitioners, specialists and so on are quite affordable when compared to private healthcare in the UK.

France has consistently scored highly when it comes to its healthcare system in global rankings, and once you’ve been there for a few months you will be eligible to receive healthcare in the same way as French citizens.

Once you’ve decided to make the move to France, finding the right property for your retirement will be your next priority. Luckily, our iad Overseas property consultants are here to help and can show you what different regions have to offer.

In terms of property prices, just like the UK, the amount you pay depends on where you choose to live. For example, if you want to live in Paris, you’ll be paying a much higher price than if you choose to live in a small town, village, or rural area.

However, you can get more for your money in France than in the UK and as the country’s economy is regarded as economically stable, in time your purchase should increase in value.

France ranked as the 9th best place in the world for older people and healthcare was ranked 78.8. It also has a slightly higher life expectancy rate than the UK, which only ranks as 35th out of 100 countries for older people.

As with any big move, beware of the admin you will need to do prior to the move. For example, if you want to live in France on a permanent basis, then you must be prepared for a lengthy application process.

To qualify for retirement in France you must be able to prove the following:

• That you’re not and don’t intend to work.
• You have health insurance.
• You can support yourself financially.
• No criminal record.

Always take professional advice before applying for a visa so that you understand the legal requirements and obligations.

The application for a visa is long and involves a lot of admin. Also, it’s not guaranteed that you will be granted a visa which could make things difficult in the long-term.

As a retired person, you’ll also need to complete lots of tasks regarding your financial situation. Whilst you can claim your UK pension when living in France, you need to make sure you’ve done all that is necessary to secure your income and meet your tax obligations. It’s advisable to work with a pensions expert or financial advisor to make sure you know your financial status.

You will not be eligible for the French state pension.

In the UK, everyone is eligible for free healthcare via the NHS. While the waiting times can sometimes be lengthy, ultimately your treatment is completely free.

Unfortunately, this is not the same in France. The French healthcare system is funded by social security contributions, the Government and you, the patient.

You need to have healthcare insurance once you move to France. As a retired person with a pension, you must factor these costs into your monthly budget, which could mean larger outgoings at a time when your income is lower/fixed.

Just like the rest of the world, France has its challenges when it comes to its property market. Factors such as rising interest rates, mortgage availability and inflation will always impact prices. However, if you’re a cash buyer, you might find that it is a good time to start your property search.

Although property prices are slowing down, it’s difficult to predict how long this will last, so you may need to move quickly if you’re planning to buy.

Our property consultants are based all over France and are fluent in French and English. They have worked with many expats over the years and can not only help you find the right property to meet your needs but also suggest which region may offer the best lifestyle for your later years.

Get in touch with our team today to start the next chapter of your life.