Can Brits Retire to France After Brexit?

The moment has come, and now is the time to consider retirement. We often spend our lives doing what we are supposed to do instead of doing what we wish to do. For many, it resumes moving abroad, and that’s what we want to discuss. Retiring to France remains a dream for many Britons. With its sunny climes, delicious food, and rich culture, the allure is in high demand. However, since Brexit, the process of obtaining French residency has changed, plus doubts such as “What happens to my UK pension if I move to France? can disturb anyone planning for such a change. This article answers your critical questions about retiring in France post-Brexit, including residency requirements, pension implications, budgeting tips for a peaceful move and more.

Is it Hard to Get a French Residency?

While the process is more complex than pre-Brexit, obtaining French residency for retirement is still achievable. Brits must now apply for a long-stay visa, typically the “Visa de Long Séjour valant Titre de Séjour —Visiteur” (Visitor Long-Stay Visa), before moving. This visa allows you to reside in France for more than the standard 90-day visa-free.

Can Brits Retire to France After Brexit?

The good news is that British citizens can still retire to France after Brexit. However, they must follow the new residency procedures. These involve applying for a long-stay visa (Visa de Long Séjour valant Titre de Séjour – Visiteur) and a residency card. This involves proving sufficient income (at least €16,597.03 annually) and securing healthcare coverage, often via an S1 form if you receive a UK state pension. The S1 form ensures access to the French healthcare system and exempts UK pensions from French social charges. Additionally, retirees must demonstrate accommodation in France and promise not to work there. After five years, retirees can apply for a long-term resident card, which allows them to live in France for up to ten years. It’s crucial to stay updated on policy changes and consult financial advisors to manage pensions and taxes effectively.​

What Will Happen to my UK Pension if I move to France?

What about sticking with the UK pension but moving to experience retirement in France? British retirees can continue receiving their UK State Pension in France. If you move to France as a British citizen, you can continue to receive your UK State Pension without any reductions. Your UK pension can be paid directly into a French bank account and will be subject to French income tax, though you may receive a credit for any UK taxes already paid. The “triple lock” system still applies, ensuring your pension increases annually by the highest of inflation, average earnings, or 2.5%. Additionally, you can apply for an S1 form (Social Security Form 1), to cover your healthcare costs in France, helping to avoid social charges on your pension. To facilitate a smooth transition, consider consulting with a financial advisor for personalized advice on transferring any private pensions and understanding the tax implications.​

What is the Minimum Income Required to Retire in France?

French authorities don’t have a set minimum income requirement for retirees. However, you need to demonstrate sufficient financial resources to support yourself. As of 2024, the minimum income required is approximately €1,500 per month for a single person. This amount increases accordingly for couples to ensure you can sustain both of you. This income can be sourced from pensions, retirement savings, investments, or rental income. In addition to proving sufficient income, you must show proof of health insurance, accommodation, and a clean criminal record when applying for a long-stay visa. After the initial year, you can apply for a Carte de Séjour to extend your stay. It is advisable to consult with financial and immigration advisors to ensure all requirements are met and to facilitate a smooth transition.

Budgeting Tips for Brits Retiring in France

Moving abroad involves numerous costs. Here are some tips to stay on budget when retiring to France:

Understand Income Requirements: To qualify for a long-stay visa, you need to demonstrate a minimum monthly income of around €1,500 for a single person or more for couples. This income can come from pensions, savings, or investments.

Manage Currency Exchange: Consider exchange rates and potential fees when transferring your UK pension to a French bank account. Services that offer lower transfer fees and favourable exchange rates can help you manage these costs.

Consider Cost of Living: The cost of living varies significantly across France. Paris and the French Riviera are more expensive, while rural areas and smaller cities like Marseille and Nantes offer lower fees. Researching and choosing a location that fits your budget is crucial.

Healthcare Costs: Register with the French healthcare system using the S1 form to cover state healthcare costs. Additionally, private health insurance (mutuelle) should be considered to cover any gaps in state healthcare coverage.

Housing: Decide whether to rent or buy property. Renting requires proof of income and can involve a deposit and advance rent payments. Buying involves additional costs such as notary fees and property taxes. Spending some time in the area is beneficial before making a long-term commitment.

Tax Planning: France taxes residents on their global income, including UK pensions. However, tax treaties between the UK and France prevent double taxation. Consulting a tax advisor familiar with both tax systems can help you navigate these complexities.

Moving to France After Brexit: The Final Word

While the process has changed, Britons can still enjoy a fulfilling retirement in France after Brexit. By following the new residency procedures, planning your finances meticulously, and seeking professional advice, you can overcome obstacles and embrace this exciting new chapter. The relocation has many more complex actions. Here’s precisely where we step in. VanOne International Movers is prepared to help you with a tailored service. We ensure you get the necessary paperwork to guarantee the clearance to relocate to France from the UK. At the same time, your belongings are secured and prepared to be collected and delivered on time. Contact us today for a free quote.