Whether you already own a second home in France or are looking to purchase a French property in the future, what does the UK’s departure from the EU mean for British property owners? Here’s what you need to know about owning a second home in France after Brexit.
What Changes Can French Second-Home Owners Expect After Brexit?
If you already own a second home in France, be assured that your situation is unlikely to be affected by Brexit. The UK’s departure from the EU shouldn’t impact your mortgage, your Will, or French inheritance laws. You also will not be liable for any additional taxes due to Brexit and if you choose to rent your French property, any income will still be covered by the France-UK double tax treaty (meaning you will only be taxed on income in your country of residence).
What About Selling Your Second Home in France?
One downside of Brexit is that selling your property is likely to incur extra charges. EU exemptions no longer apply to UK residents which means that you must now use a French Fiscal Representative (représentant fiscal) to sell your property. You are also liable to pay the full rate of France’s social surcharges (prélèvements sociaux) on your capital gains. It’s a substantial hike – 17.2% compared to the reduced rate of 7.5% for EU residents.
Visiting Your Second Home in France
For those with a holiday home in France, the biggest – and potentially most inconvenient – change will be the length of time that UK residents can visit the EU. From now on, British travellers can only travel to France for up to 90 days within any 180 day period. That’s plenty of time for a city break to Paris or a beach vacation in the Riviera, but it will no longer be as easy to spend several months in France or hop back and forth between the UK and France multiple times a year.
To get around this, second-home owners can apply for a visa de long séjour temporaire visiteur, which allows you to stay up to one year, but not to work or study. Visa applications are considered on an individual basis, and you must prove that you have sufficient funds and healthcare coverage for the duration of your stay.
Keep checking this page for the latest news on owning a second home in France after Brexit or head to our Brexit zone to learn more about living, travelling, and buying property in France from now on.
[This article was originally published in July 2016]