Consumer guide- if you live in France -and have Investments or Personal Pensions still in the UK


The UK left the EU on 31 January 2020. The transitional period ran until 31 December 2020 and the UK is now a “third country” and no longer part of the EU’s economic structures. This might affect how your UK investments or pensions are serviced in the future.

If you live in the France and have investments, life assurance policy or personal pensions with an insurer authorised in the UK, or are planning to move to France, then you should:

Contact your UK Financial Adviser or Pension Company:

  1. If they have not already been in touch, obtain more information from your UK insurer or intermediary
  2. Make sure your UK adviser is still able to provide financial advice when you are resident in the EU (even if provided online).
  3. Ask: Has your UK insurer put in place measures to ensure that your policy or pension can continue to be serviced? Could there be any difficulties with servicing your policy or other on-going services?

Check your policy and find out about possible outcomes:

  1. Check your policy or pension documents .Who is your insurer, where is the insurer authorised?
  2. Seek advice about the local rules of the EU country you live in or are moving to, as these could affect your policy or pension.
  3. Talk to your tax adviser .Changing your country of residence may affect your eligibility for tax reliefs linked to your investments or savings.

Be careful of scams:

  1. The UK has left the EU, and this may mean some changes to how your policy or pension are managed.
  2. If someone approaches you offering you advice, read the details thoroughly if advice is provided in writing, and, above all, do not let anyone pressure you into a hurried decision.
  3. Check that anyone offering you advice or financial services is also authorised to do so in the EU country you are moving to, or already live in.

When you are tax resident in France you are living under French rules and regulations and while UK-based advisers may be experts on the ins and outs of the system for UK residents, it is unlikely that they have the same in-depth knowledge of French regulations, and why should they.

All of our financial advisers have an in-depth knowledge of these regulations and have access to solutions that could offer you significant benefits as France residents.

If you are holding on to UK savings and investments, be aware that they already lose their UK tax benefits once you are living in France and their growth should be declared to the French tax authorities annually, if withdrawn or not. Now they have ceased to be EU/EEA assets they could potentially attract a higher tax bill, in either or even both countries.

As residents of France, you can have access to locally compliant alternatives that can offer you advantages such as tax-efficiency, multi-currency, and estate planning flexibility, so please explore your options.

As the Brexit transition has finished, it has never been more important to ensure your financial affairs are both compliant and suitable for your life in France.

At Beacon Global Wealth Management, we are committed to providing all our France based clients with a high-quality service well into the future and have been planning for Brexit for some time. We have arrangements in place which enable us to continue to service our clients, we are fully Brexit ready to continue to provide regulated advice for France based clients from 2021 and beyond.

So, secure your financial peace of mind by talking to an experienced, locally based adviser, as soon as possible.

How do you make the next step?

To see if we can help you, we offer a free initial financial consultation, in these travel restricted days, currently conducted either by phone or video together.

We work out where you are today, where you want to be in the future, and following our discussions together, then create Report & Recommendations -to help get you there.

Everything is conducted together in English & is based on French rules & regulations.

What will we discuss?

As part of your Free initial Financial Consultation, we will:

  • Get to know each other, it is not a sales call, it is just to see if we can help you.
  • Answer your financial questions.
  • Provide clarity and confidence about your financial situation.
  • Provide simple, practical advice on what your next steps might be.
  • By the end, you should feel more financially organised and in control.

There’s no cost and no small print – just a free opportunity for you to experience our services from the comfort of your own home.

To arrange a free chat, then just send us an email with your best contact number and time of day to chat together, and we’ll be back in touch to arrange this with you.

Planning Your Finances Doesn't Need to be Stressful

Most expats want to know their financial future is secure. For the past 20 years we’ve been using our Expat Wealth Plan™ to make your money work for you, so you can enjoy your future whatever it holds.

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