How to get a residence permit in France and French citizenship. Interview with the founder of the French Real Estate Agency Paris Management Group
Specially for those interested in buying real estate in France or want to move to this wonderful country, the REALTING team has prepared an interview with the founder of the French Agency Paris Management Group Togrul Aliyev. The company has been present in the real estate market for more than seven years and it is well known not only in France, but also in many other countries around the world.
— Togrul, could you tell us what are the legal ways of migrating to France?
— There are several ways to settle in France legally:
- Investment. Note that in this case, you need to invest at least 300,000 euros in a ready-made company or create a new company, investing at least 35,000 euros.
- Marriage with a French citizen.
- Getting a job on a contract basis for a personnel role.
- Parents of a French citizen can expect to get a residence permit.
— What are the types of permits to stay in the country?
— The main groups include
- Titre de sejour (residence permit) for a year or 4 years;
- permanent residence (10-year card);
- temporary permit (Resepisse).
— Let’s talk a little about obtaining a temporary residence permit in France: the necessary documents, the terms of obtaining the permit, the benefits of the status.
— The grounds for obtaining a residence permit are:
- family ties (spouse, child, parent);
- asylum for a refugee.
To obtain a temporary residence permit, first of all, you need documents confirming your place of residence and financial stability. The period of obtaining a residence permit varies from 2 to 6 months, depending on the type of request and the complexity of the profile The main advantages of a French residence permit are complete freedom of movement across Europe, free medical care and education.
— When can I apply for permanent residence in France? What is the list of documents for the application?
— Permanent residence can be requested after receiving the primary residence permit. Thus, all of the statuses mentioned above can open access to permanent residence. The list of documents is the same as for a residence permit.
— How long does it take to get French citizenship? What is needed to be done?
— You can apply for citizenship after 3 years of permanent legal residence in France, but only if you have two diplomas from a French University. If you have one diploma, you can apply for citizenship only after 5 years. An important requirement when applying is financial stability, which can be confirmed by a work contract and tax returns.
— Do foreign citizens have the right to purchase real estate in France? Are there any restrictions?
— Of course they can. There are no restrictions on the purchase of real estate between a citizen and a foreigner.
— What documents are required for registration of a purchase and sale transaction? How is the transaction arranged?
— You only need to have a passport and a document confirming the origin of funds. Registration of the transaction begins after the seller accepts the commercial offer made to him. Next, the notary takes over: he collects documents for real estate, carefully checks all the nuances and prepares a draft contract of sale.
— What additional expenses are connected with buying real estate in France?
— Among the expenses, you must take into account 8% of the state fee, which is transferred to the notary’s account. You should also take into account Prorata — reimbursement of the difference in expenses to the seller if, for example, he paid tax for a year in advance, and sells the property in six months.
— How much does it cost to maintain a property in France?
— Of course, it all depends on the location, area, and other factors. So, a 3-room apartment near Paris, including taxes and utility bills, costs about 350 euros per month. At the same time, you can rent it for 1200-1400 € per month.
— Is it profitable to buy real estate in France for investment purposes?
— Definitely, Yes. You need to take into account the annual increase in prices and the fact that the funds will not be devalued because they are invested in the euro. If you approach renting out real estate wisely, you can minimize the tax on income by reducing it to zero.
— Which real estate is more profitable to buy: on the primary or secondary market?
— There are advantages in both cases. Buying a «primary» from a developer, you are exempt from the state fee of 8%, but the price per square meter in new buildings is higher and there is little choice in terms of location.
— Can foreign citizens expect to receive loans or installments to buy real estate?
— Yes, our company provides assistance in obtaining a mortgage with a down payment of 50% or more.
— What tips can you give to potential buyers?
— Don’t be afraid to step out of your comfort zone and open up new countries for investment. The French real estate market has a huge demand and a small supply, which speaks for itself.