Can you buy property in France?
Yes, as a foreigner, you can legally purchase property in France. However, there are some variations depending on your current country of residence and passport.
Buying in France as an EU citizen
There aren’t any restrictions for EU buyers in France, however if you do not speak French, you may need assistance with translating official documents. Most French law firms have bilingual staff members and can provide translation services.
While banks in France are typically stricter when it comes to offering loans to non-residents, it is possible to get a mortgage as a foreigner.
If you wish to reside in France, the process is relatively straightforward for EU citizens. You do not need a residence permit to move from one EU member state to another. All you need is to carry an identity document (ID) or valid passport. If residing in France for work, study, living with family, or retiring, you will be required to register your presence with the local authorities.
Buying in France as a non-EU citizen
There are no buying restrictions for non-EU citizens in France, including those from the United States, Canada, the UK and other countries. Please note that buying a French property as a non-EU citizen does not grant you residency rights.
If you plan to stay in France for an extended period (more than 90 days), you will need to obtain a long-stay visa. This is an essential step if you intend to live in France, whether to retire or work, including for yourself.
Your country of origin will influence how easy it is for you to get a mortgage in France. French banks will lend to non-EU citizens; however, some countries are off-limits and this will depend on the bank.
It is worth noting that US citizens are not able to stay in the EU indefinitely without applying for a visa.
Buying a property in France via a company
There aren’t any restrictions in place that prevent foreign buyers from setting up a company to acquire real estate in France. Once the status of the property has been chosen (i.e. permanent residence, as an investment, for rental purposes), the legal and fiscal regime of the property acquired shall differ.
If you wish to buy a property in France via a UK limited company directly, it may be more complicated. The pros and cons of buying a property in France with a foreign company all depend on the buyer’s personal circumstances, so you should seek the advice of a tax expert or French lawyer if interested in exploring the idea.
Can a foreign buyer invest in French property?
Yes, by purchasing a property in France, you are investing in French real estate. Regardless of whether you plan to use the property for investment or personal use, the process includes a fair amount of due diligence, but working with a real-estate agent can simplify the process.
If you do purchase a property in the name of a company, you should seek expert advice as there are several options which include a SCI, SARL, EURLs and SARL de famille.