Are you expatriates or are you about to become a member and ask yourself questions about your retirement, the future of your children or simply where to put your money? Real estate investment in France allows you to place your income efficiently. To help you see more clearly, here are the 3 good questions to ask you.
Can I borrow as an expatriate?
As a non-resident, your borrowing capacity with a French bank will be conditioned by two major criteria: your type of work contract and your debt capacity.
Your contract of employment:
The contract seconded. If you have a French contract and are posted abroad, you are, for the majority of banks, assimilated to a resident of France. You will then have no problem obtaining a loan from your bank or broker. You are in the best of situations.
The local contract. If you are a local contract - the majority of expatriates - you shouldn't have to make a real estate loan. But the conditions of the loan will depend on your employer: if you work for a multinational like Alstom, Total or Schneider Electric, for example, your risk level is considered low and you will also get a loan without difficulty. However, if your employer is a less well known SME, your risk level goes one step above. This situation is not bloquante, but you are expecting a slightly higher rate.
The contractor. The last situation, if you are a non-resident entrepreneur or work as independent abroad, you have almost no chance of obtaining a loan in France. Almost all banks are refusing to fund foreign-based entrepreneurs, even if you are earning your life very well or have an important contribution.
Your bank:
Some French banks do not lend to expatriates. If you have retained a bank in France, it is important to contact you to find out if it agrees to finance you as an expatriate. Attention: even banks with a pole for expatriates are often deprived of the special demands of expatriate status. Finally, there are specialist brokers in expatriates. This can be very useful in case of difficulties with your bank.
How long do I need to provide for my investment project?
A project is broken down into 3 major steps:
looking for the property: the prospecting and visits of the goods corresponding to your project,
funding: obtaining your loan and the necessary assurances,
the notarial stage: signature of the pre-contract and then the authentic act of sale, after which you are officially owner.
A project lasts on average between 7 and 8 months. Of course, this period may vary according to everyone's criteria.
Can I make my investment alone?
For a non-resident, the two main brakes on investment in France are distance and lack of time.
This is why My expat has designed and developed a 100% and solution that allows expatriates to invest in French real estate. Created by former expatriates, My expat accompanies you throughout your project from the study of your file to the signature of the authentic act through the search for property. They represent you legally at a distance: you don't have to move and you gain a lot of time.
