Hi Guys
Can someone give advice please.
We have moved over to France with intention of settling here and are just going through the process of buying our first French property, been told by agent it will take about 2 to 3 months. At the moment we have an english property that we were going to rent out so it would top up our meagre pension. We are early retirees, 55 years old, and are not looking to work in France, the house we are buying needs renovation which will probably take a year to do fully. We intend to aply for French citizenship, when we can find out how to. My sister has asked if she can buy our property in england which means no rental income. It is not enough to buy another property in the same area without having loads of work to do to make it rentable. But it is enough to buy another 1 or 2 over here. My question is this, is it easy and viable to buy two other properties for rental or is it a complete minefield. I understand rental agreements are for 3 years and rent is based on their earnings. I know I would have to pay taxes etc but is there a tax allowance as in england or will we be taxed on the whole amount, I also undertand that there is huge taxes to pay if we sell them before 15 years.
Sorry its so long but its a big decision.
Dee

It is viable to own more than one property en France, Citizenship? Are you not EU citizens already as if you are then there is no need to become fully fledged froggies.

I think unless marrying, you need to be here for at least 5 years anyway!

You also need to think about health cover. You can get up to (note those words) 2 years from UK, but need to apply for a Carte Vitale. If your okay with language, go to CPAM in your area. You will also need top-up insurance (mutuelle) and dentists and opticians not covered.
When first one hits 60, spouse/partner can piggy-back on Carte Vitale. But research is vital in this and areas you have raised in your post, but plenty stuff on line.

Don't think it is 60 for people of 55 cjm - state pension age will be a bit more than that by then! I would think that the rental market might be difficult here unless you buy in an area with high demand for housing.

Quite a lot to get organised
You should also check your UK pensions. You now need 30 years to qualify for the full UK pension. Have you checked your pension estimate?
You can ask for a pension estimate and then buy additional years if you need to and it is worth it?
If you live in France you will need to fill in a french tax return. There is a double taxation agreement so that you do not pay tax twice. If you have UK rental income then you will have to declare that in France.
It may be better for you to receive your UK pensions free of UK tax (if possible) and pay the tax in France.
You may also have to pay the equivalent of National Insurance in France - it depends on your income.
You obviously have not rushed into the decision - where did you decide to move to?
I agree with EmilyA that healthcare could be a problem

Have fun getting used to the french red tape

Apologies Emily, you are quite right, pension age will get hiked. Govt pensions not payable into France, eg NHS, Teaching. Private and state pensions are though if you desire.

Hi Ka Ora! yeah we are eu citizens, got confused with the carte vital thingy, thought it made you instantly french and able to speak french fluently!!!

Emily, you are right its now 65 for us females, men should of kept there mouths shut instead of crying for equal rights, us girls wouldn't do that.

hi Cyrian. Yeah we have checked our tax position and we are both fully paid up, no kids, never been unemployed. OH has private pension which is taxed in uk, and I will have whatever rent I can receive from French properties, if I'm brave enough to do it!!! We have bought a little place just outside Chateauneuf du faou, about 10 mins from Carhaix. Was thinking about Rostrenen for renting as we think towns or large villages would be our best bet. I do know tax returns are not the easiest of things anywhere but have been assured that the French tax offices are very helpfull, actually I think I read that on here.

Hi CJM. Not ok with the language yet, especially red tape language, but got a good dictionary. Have looked into insurance and find that quite expensive, though I don't suppose I would be saying that if I was lying in hospital somewhere in France.

Thanks to everyone who has replied, heres hoping someone who has done it reads my thread and says " go for it girl "

Go for it girl! You won't regret it. Life is for living!

If you are looking for buy to let in France, check out these sites

http://investment.french-property.com/

http://www.french-property.com/guide...ting-property/

There are many tax incentives in France for various buy-to-let schemes, but in order to benefit, you would need to be tax resident.

Look into it all carefully - there are certainly pros and cons of each approach.

Just a bit more on health cover (sorry if you know all this), but the S1 (E106) will only cover you for 2 and a half years maximum. You will then need full private medical insurance until you reach state pension age. You can't get this full cover if you have a pre-existing condition like high blood pressure. The cost seems to be around 4000€ a year, though others may have more up to date figures. Otherwise you have to get cover by working or running a business.

Just to clarify - do you mean €4000 each?

Blimey!!!!! Thanks. Wheres me pills?