Relocating to France is always a thrilling experience for foreigners. From the sweeping beaches of the Atlantic coastline to the delicious meals and the vibrant culture, there’s so much to love about the country. However, many people only focus on the amazing experience they envisage and forget about the cost of moving.
Although international relocation from anywhere in the world can be quite expensive depending on several factors, you can still avoid some unnecessary costs by going through experienced specialists like a Garant In professional. This will give you access to a transparent cost calculation and an overall easy migration experience.
Before you get swept away, read this article and discover the hidden cost of relocating and some things to watch out for. Let’s get to it.
Getting an Apartment
Once you’ve decided to relocate, the next thing to consider is where to live. You should start your search months before your arrival to make the task easier for you. This will save you the stress of being stranded in a strange land.
The cost of an apartment in France varies depending on the apartment type, size, and location. On average, a furnished apartment in France can cost about €709, while an unfurnished apartment can cost about €671 per month. You can expect to pay about €985 per month for a furnished house, while an unfurnished house can cost about €902 monthly. If you’d like to save some extra money, you can research the cheapest cities in France to live in.
Obtaining a Visa
The next most essential thing to consider is your visa. If you’re not migrating from a European country, then you need to get a visa. However, the cost of getting a visa varies depending on the type of visa. For example, an investor visa, also known as a talent visa, costs €324. Aside from the cost of obtaining the visa, you must also have at least €30,000 to invest in your business and pay your employees at least the monthly French minimum wage.
The entrepreneur or liberal profession visa is another type of visa that costs about €269. You must also have proof that your annual income is up to €20,147, which is the lowest salary of a full-time employee as of August 2022.
Moving Your Properties
One of the most difficult aspects of the immigration process is moving your properties. It’s even more difficult if you have to consider your pets. To simplify this process, many global relocation companies can help you move your belongings and save you the stress. They also have storage options to keep your belongings in case you don’t have an apartment yet.
However, you must consider the cost of paying for their service. This depends on the company and how many properties you possess. To save you extra costs, ensure you review different relocation companies and choose one that best suits your pocket. You must also try as much as possible to reduce your properties by abandoning unnecessary items and packing light items.
Customs Taxes and Duties
Irrespective of the size of an item, it may be subject to customs duties. Therefore, when shipping your properties from one country to another, you must understand and comply with the customs regulations of that country. Customs duties are usually between 0% and 20% and are calculated by adding the actual value of the item with insurance and shipping costs. This is known as the CIF value (Cost, Insurance, Freight).
Each product type is given a 10-digit TARIC code, which is used to define its custom rate. For a non-commercial shipment, the Customs Service will determine the actual value of each item based on the declaration of content form you have filled.
Residence Permit
If you plan to move permanently to France, then you need to consider the cost of getting a residence permit. It is a document issued by the country’s authorities to confirm your legal rights to live there.
Once you get the permit, you’re required to pay an amount of €200 as tax to the OFII. In addition, you will also be required to pay a stamp duty of €25 and an additional cost of €99 for your long-stay visa. This will serve as your authorizing entry into the country.
Cost of Tax
Although France is an amazing country to live in, it is not a fairyland. Therefore, you’ll have to pay taxes on all your French-based income. You must also note that your income in France is progressive; hence, the more you earn, the higher your tax. However, when you pay taxes in France, you can be assured of quality social benefits in return.
The highest income tax rate in France is 45% and it is applied to €168,994 per annum. You’ll also pay an extra 3% surcharge on individual incomes above €250,000 per annum and a 4% surcharge for incomes above €500,000 per annum.
Travel Costs
While travel costs may seem obvious to cater to, many people only consider transportation costs to their new residence. However, travel costs go beyond the final costs of transportation. Since you’ll be residing there permanently and probably obtain citizenship rights, you need to cater for preliminary trips to explore the area before your final arrival. This is especially essential if you’re moving with your family.
If you’re going alone, you also need to consider the costs of visiting your family occasionally. At some point, you’ll need to visit your family, hence, you need to make adequate provisions ahead of this time. You can decide to visit yearly or twice a year, depending on your budget.
Miscellaneous
Aside from everything you’ve diligently planned, there’s a need for you to also plan for unforeseen circumstances. This may include the cost of replacing certain appliances because they don’t work in your new location. It may also be an unplanned increase in the exchange rate. Whatever it is, having separate miscellaneous costs will help you cater for it conveniently without altering your initial plans.
Final Words
Finally, while moving to France can be a great idea, your experience will depend on how prepared you are for the relocation. Don’t be so carried away by the romanticized description of the country that you forget about the hidden costs attached to it. Do your research and find out what works best for you.
