Patience and organization are key skills to settle for FIRE in France. Process is transparent but can be lengthy. Start as early as possible and chase politely if there is no progress to ensure that key documents are not missing.

This post is part of a series about France:

Part 1: Ultimate reasons to consider early retirement in France

Part 2: Best Fire places in France

Part 3: How to successfully settle for FIRE in France?

Part 4: How to secure the perfect rental property in France?

By now, you should be (or already were) convinced that France can be your early retirement home. Congratulations for this big step. However, the list of to-do before it finally happens is not short. As a French and returned to France after a decade overseas, I experienced various challenges. We had to start all over again from setting up bank account, to finding home, school, and registering for social security. I do hope my post here can shed some light on the process. If you don’t find what you are looking for, please do post your questions at the bottom of the page.

1. Getting residency

As always, it depends on many things. First off, your current residence and citizenship determine whether you can already settle in France. EU citizens can travel freely and thus it will be smooth and easy for the move to France. Then, if you have a job, your residency will be taken care of by your employer. After finding your own way to settle, you may have to visit the local prefecture to officialize your stay. If your case is neither of these mentioned, you may need a bit more research to find a path that allows you to come and stay in France.

Many countries have special schemes such as Golden or Green Visa that give you residency. Some of these include buying a home, investing in local businesses, or enrolling your kids in private international school. However, France does not have such schemes. EU countries that offer these schemes will normally require you to reside in their countries, which means you will not be able to use a special visa from another EU country to settle in France. Beware of scams that offer you residency or citizenship.

2. Enrolling children to school

If you are planning to get your children into a public school, you simply need to go to the city hall. Registration at the city hall usually occurs in May or June of the school year that starts later in September. You will need to show your Justificatif de domicile. Your home address proof can be a utility bill such as electricity, water, gas or home internet. Based on your address, your children will be allocated to a nearby school. As education is mandatory in France from 3 to 16 years old, you will always be offered a spot, though you may not get the closest or most renowned school. Next step is actual registration at the school, which is the same process for all nationals, French citizens included.

In case you opt for a private institution, you will need to apply directly to the school. Good schools are in high demand, and it is normal that school application start as early as October or November in the previous year for the September intake. Yes, you need to anticipate 10-12 months ahead if you want to maximize your chances of admittance. For young children, school’s admittance is primarily based on first come first served basis, but it is not a guarantee. If you are very interested in a school, I would encourage you to visit the school in order to talk to the teachers, the principal AND the admission officer. For teenagers, your child may need to have interviews and assessment.

3. Finding a home

Renting vs owning has always been and will always be a subject of debate within the FIRE community. Each situation is unique, and we have never lost money by owning a place (if we assume emotional stress do not have a price tag). However, if you have never lived in a region, the common advice is to rent first till you are committed to stay.

Before coming to France, you may want to book at least two weeks of stay at Hotels.com (for hotel),or Vrbo.com (for home rental) so you have enough time to look for your new home, which takes time. Expect 2 to 4 months before you can move into your purchased second hand home, or 12 to 18 months for an off-plan home. For rental properties that is vacant, you just need to sign the rental agreement, aka Contrat de location and get the keys. In areas with high demand, you do not usually come across vacant properties but to be vacated ones. Notice period by law is 3 months, but it can be reduced to 1 month in areas with tight supply.

This government website will help you find out if the housing market is tense (‘tendu’) and thus the notice period is shortened to 1 month – which is good for both existing and to-be tenants. Happy home hunting!

a) Buying your home

If you are very serious about your new place, you may consider buying your own home. Be cognizant that there are ~8% stamp duty, and ~2% agency commission that you need to pay upfront. Ongoing costs will include standard maintenance costs and Real Estate Tax. The advantage of buying is that you are just presenting a price- no buyer would decline an offer if it is lucrative. This is not the case for renting as I will explain in the next section.

I assume that you have the cash to pay for your home without requiring a home loan. Good luck getting a home loan from a bank if you have just arrived in France without a stable and significant income. Most banks will not take your wealth into account, but simply income. And I am talking about purely salary income, not dividend or investment income. Some banks may insist that you do not allocate more than 30% of your income as a home loan repayment. The same logic goes for renting, if your home is costing you more than 30% of your monthly withdrawal, you may want to reconsider your needs. If you are interested in Lombard loans, you will need to ask your real estate agent, loan broker, or wealth manager to see if they can link you up with the providers.

Be creative and diligent in your research on how you can finance your home projects. For example, it may be more expensive to take up a mortgage than borrowing from your Interactive Brokers account. You can simulate the costs on IB website. One big advantage is accessibility and the flexibility in repayment. The flip side is the risk for a margin call, and/or some of your assets being liquidated. Commit only if you are fully aware of the risks involved.

b) Renting your home

Renting is less risky that buying, but it is also more challenging. Indeed, you will need to convince the landlord or the real estate agent that you are trustworthy and financially resilient to pay your rent in full and on time. French laws are biased towards tenants, making it near impossible or extremely lengthy for a landlord to expel a tenant who do not pay his rent. As a result, most landlords are very picky.

– Dealing with real estate agent

From experience, you may have better chance landing your dream home by discussing and explaining your situation with a landlord than a real estate agent. Regrettably, to avoid managing properties, landlords usually outsource to real estate agents. Then agents typically remind landlords about potential unpaid rent, and gracefully offer insurance covering in case that happens. Of course, these insurances are usually over-priced. And they will only cover households with CDIs and significant steady incomes, which you may not be qualify for.

I have once offered to the real estate agent that I (as a tenant) will pay for an unpaid-rent insurance, with the landlord as beneficiary. However, the real estate agent refused to even present my profile to the landlord, partly because they would lose the insurance kick-back if I purchase it myself. The working model is that real estate agent/company only choose profiles they are familiar with, and get referral benefits from insurance company for unpaid-rent insurance. There are boutique real estate firms or individual agents which are more experienced and open-minded to deal with FIRE folks. Also, if you happen to know some people who can recommend you real estate agents, you will again have better chance.

– Dealing with landlord

If situation allows, talking directly with landlord is the best way to present your unique profile. Le Bon Coin is the French equivalent of Craigslist. There are also other websites and apps like Se Loger, A Vendre a Louer, Particulier a Particulier. I invite you to set up alerts on all these websites and apps, and have your dossier ready. Rental market in well sought-after area is characterized by low supply. So you need to present your application the best way possible, much like you are going through a job interview.

A dossier is a neatly organized folder with all the relevant documents such as passport copies, residency proof, and employment contract. If you don’t have an employment contract, you may insert copies of your tax returns for the past 2 to 3 years. There is no norm but it is up to you to decide how much you want to share. Some landlords may ask for your recent bank statements. You should not have to share this information, but it is again your choice if you think it can reinforce your application.

Beware of scams and avoid sending all these materials by email unless you add watermarks on all the documents. There are so many cases of identity theft these days, and a nice house or apartment welcoming anyone to send their files before organizing visits can be suspicious.

It is better to use cheques for paying the 2 months deposit and the 1st month of rental. It leaves a digital trace. A wire transfer to a French Bank Account (IBAN starting with FR) can also be a good option. Please add your name and details in the transfer note to avoid any misunderstanding or issues in the future. Some banks allow real-time wire transfers which can be useful to conclude your rental agreement on the spot.

– Strengthen your application

You can significantly improve your case if you can provide a rental guarantee by someone you know, such as your parents or a very close friend. GarantMe or Cautioneo are insurance companies that covers unpaid rent (“Garantie Loyer Impaye“), with the premium paid for by the tenant. You can earn 1 month free when you sign-up on Cautioneo with the the promo code “CAUTIONEO_FIRE”.

Finally, you may further boost your profile by paying a few extra months of rental payment in advance. By law, a landlord can only ask for 1st month of rent, and 2 months of deposit. If you have enough cash, you may offer to pay 3 to 6 months of rent upfront. It is very uncommon but could also really make a difference. Although it may surprise you as it did to us, paying rent upfront is very normal in places such as Dubai, where you usually pay for 3 months, 6 months or even 12 months upfront. They simply call it 1 cheque (worth 12 months of rental) or 2 cheques (each of 6 months rental worth) etc.

c) Getting utilities

Once you have signed your Tenancy Agreement, you can start contacting the utilities providers. To help you navigate the different energy providers, the French government has a website just for that here. It is a very useful to save money and find the best provider based on where you live and your energy consumption. Don’t forget to ask your landlord where the utility meters are, because you will have to provide the meters ID for your connection. Nowadays, meter readings for gas and electricity are almost always done remotely. Therefore, you need to provide the meter ID and/or the previous tenant’s name so that the energy provider can ensure your energy access point.

4. Opening a bank account

As in most countries, it is a bit of a chicken and egg situation. You need an address to get a bank account, and you need a bank account to rent a place. My preferred online banks are Revolut, Boursorama, and Wise. If you can sign-up with Wise or Revolut from your home country before coming to France. You will then be able to transfer money easily and cheaply to France. Boursorama is the leading online French ban. You need to first open a bank account with another French retail bank, get your Relevé Identité Bancaire (RIB). Then you can initiate your first transfer to Boursorama from your French IBAN under your name.

Online banks usually offer free checking and savings account free of charge, with modest fees for banking services. Most services are free when performed online. On the contrary, traditional retail banks usually charge a nominal monthly fee to maintain an account, plus extra fees for any other services. Keep in mind that everything is negotiable. If you commit to transfer a significant amount of money, you should ask for fee waiver (“geste commerciale“) and some other perks. As always, it does not cost you anything to ask.

Current and Saving accounts

Let’s define a few terms. Current account (“Compte Courant“) is your primary account where money gets in and out. It is where you receive your salary, money transfer, and where money is taken out when you write checks, pay bills by transfer or credit/debit cards. There is no interest payment on this account. You can complement your current account with a saving account (“Compte épargne“). A standard saving account is called “Livret A“. Its interest rate and maximum euro amount are set by the Government. All other savings accounts provided by the banks have their own terms, which is usually less favourable than the Livret A.

Debit cards (“Carte de paiement à débit immediat“) are more common than credit cards (“Carte de paiement à débit différé“) in France. Credit card is great since it gives you one month of interest-free loan. However, late fee and charges are also ridiculously expensive. As a friend told me before, “We are saving money by the drops, and losing it by the buckets”. I know you are financially savvy, so just beware of any late fees, together with monthly and/or termination fees.

5. Getting insurance

Insurance companies have been very creative in designing insurance products. You can insure yourself for almost any life event, from the most negligible and only-self-to-blame events such as losing your keys, to the most critical and involuntary event such as critical illness and death. I do enjoy the secure feeling associated with getting an insurance. However, it could also lead to illusion and complacency. Having an insurance doesn’t stop an event from happening, but just lessen the financial pain. After considering the probability of an event happening in the first place, the actual benefit could be minimal. Thus, I only get insurances which are either mandatory (home or car) or would have catastrophic financial consequences. What to get, how much to get, are definitely personal choices. Do what makes you comfortable.

a) Mandatory insurances

Some insurances are compulsory in France. When you rent a place, you must insure the place and provide a copy of the insurance to the landlord or real estate agency. You can obtain your Assurance Habitation from any insurance company and some banks. You have the choice to also insure the content of the place but it is optional. As we are frugal and most of our assets are intangible, we decided to not insure our possessions.

Third party insurance (“Responsabilité Civile“) is also mandatory and is cheap. It protects you from the financial consequences of your actions on other people. I have never made a claim myself, but have friends who were very grateful to have had it when needed. French school will request such insurance from parents, and will refuse to admit your children if you cannot provide it.

A car insurance is also mandatory if you drive. The basic coverage is third party coverage (“Tiers Payant“). It only covers the expenses of the other drivers in case you are responsible of an accident. It is a good option if you drive an old car with low value. The all-inclusive premium coverage (“Tout Risque“) covers all expenses incurred by you and the other drivers even when you are at fault. It is a good option if you have a car with high replacement value. It is up to you to decide which coverage you can afford and accept the potential costs if the unlikely event happens.

You can contract any of these insurances from a single or multiple insurance companies. It is up to you to compare and request quotations before subscribing to an insurance. Personally, I have been a happy customer of MAIF for most of my life. Their fees are among the cheapest and with great coverage. I can easily talk to an agent on the phone when needed. How can they be good and cheap at the same time? Maybe it is related to their history. Before becoming a commercial insurance, Maif was an insurance founded and dedicated to service public teachers and their families. Their objective was to provide coverage to its clients, not money to shareholders.

b) Health insurance

Health insurance automatic kicks in for anyone who resides and works in France. The process is simple, but can be lengthy. It is therefore important to have a good private insurance cover until you can access the national healthcare network.

– Private coverage

SafetyWing provides healthcare primarily for digital nomads. We found it very useful when we moved to Dubai and needed an affordable health insurance with good coverage for our family of 5. Moreover, it is a subscription model with a monthly auto-renewal which you can cancel whenever you want. It avoids the pitfall of most other insurances which require a year long upfront premium payment. You could use SafetyWing as your insurance for several months until you get everything sorted out, or just keep it if you find it more convenient. It offers a great service at a very reasonable price.

– Public coverage

The public healthcare has several names, and we use different terms interchangeably that refer to the same thing. La SéCu is the short form of La Sécurité Sociale, or Social Security. The entity running it is La CPAM which stands for La Caisse Primaire d’Assurance Maladie. There is an official website which describes the process of Social Security Affiliation. It may take a few months to get your registration and Social Security ID. This ID number is unique to you, and you can derive lots of information such as gender, year and place of birth from the number – a bit too much in my opinion. Once you are affiliated to the SéCu, you can choose your primary GP, visit him/her whenever needed, and be reimbursed via direct credit to your bank account.

– Mutuelle coverage

Do you need an extra private insurance? If you are employed, your company will provide you a mutuelle (or private insurance) which will fully/partial cover what SéCu does not cover. Depending on your condition, healthcare needs and the specific procedures involved, the SéCu cover ranges from 0% to 100%. The balance will have to be covered by your mutuelle and yourself. The more expensive the mutuelle you have, the better coverage you will enjoy and the less co-pay you have to spend. One of the best elements of healthcare in France, is that you are not asked about your pre-condition nor pay a premium if you happened to have health issues. Obviously, it has a cost on the society overhaul which won’t last as its current state forever.

When I was working in France, I had a good mutuelle via my company. About two decades ago, I had a surgery to fix my achille which I broke while playing tennis. My part of the bill accounted for less than €50 covering the anaesthesia, surgery, and a few nights of hospital stay. Ridiculously cheap, too cheap indeed. Nowadays, after living overseas with high healthcare costs and occasionally low insurance coverage, I feel blessed already to have access to a large healthcare sector at a reasonable cost. We subscribed to a mutuelle because we have 3 young kids. Indeed, we just want to get the best treatment for them regardless of the cost. If we were without kids, we might not even get a mutuelle.

6. Building a (real) social network

Regrettably, this part of basic human need is often overlooked when we think about relocation. Unless you are a hermit, happily living in a cave, you would likely enjoy some level of social interaction. And by social, I mean real encounters with a cup of tea or coffee, discussing ideas and latest events.

a) Via children’s school contacts and outside activities

There are many avenues to explore your neighbourhood. If you have children, you may start by chatting with other parents when you drop off and pick up your children. A playdate is a wonderful way to expand your network because parents all look for opportunities to keep their young children occupied. You don’t have to become friends with everyone, but you should at least try to interact with some of them.

If you are keen to have your children explore extra-curricular activities outside school hours, you might as well make good use of the time and mingle with some parents. Our daughter was happy to find some of her classmates in externally held activities. It really helped her and us to create more bonds outside the school.

b) Association

Now that you have lots of free time, what are you going to do with it? For example in Annecy, there are over 300 associations from the city hall repository for a population of 125,000 inhabitants. An association is a legal entity, managed by volunteers with the aim to organize events or gathering around a common theme. Some examples are football club, sewing club, map reading club, cheese lovers’ club. Membership fee is usually very affordable as the association are by design non-profit.

We did sign-up for some activities such as yoga and pilates. The activities were great, but we might have chosen different schedules. As we had free time during the day, we chose classes during working hours, where slots are usually less sought-after as well. It was a mistake as we ended up with real (not early) retirees. After a few months, we gradually dropped classes as we were quite out of the place, and did not have much engagement with other classmates. If we were to do it again, we would pick time slots with people of similar age or life stage.

c) Meta (previously Facebook) groups

Meta has had some challenging time, but it remains a key platform where you can find people or groups easily. Wherever you go, I would suggest you to sign-up for as many groups as possible with the city name in it, say XYZ Expat or XYZ FIRE or XYZ hobby. You don’t need to be active in all, just join some and see if the conversations match your personality and interests.

d) Meetups

It has almost all gathering types I could think of. The Meetup platform enables you to search by topic, physical distance and event date. It is very powerful and easy to use. But as with any platform, the event quality is not a guarantee. That said, if you invest enough time and effort in looking for your dream meetups, you will eventually get there.

I would be grateful if this post helped you in any way. I believe that there is no task that is insurmountable, and having a checklist ready is always a good first step. So how is your relocation going on? Have you faced other challenges? How did you overcome them? Please share with our community, and Happy Fire Cracking!!

Credit Image by PIRO from Pixabay

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