Categories: Taxation

Portugal is still the dream of the French

<p class&equals;"p1"><span class&equals;"s1"><b>More and more French people over the age of 60 are deciding to leave France for warmer climes &amp;lpar;and with lower taxes&amp;rpar;&amp;period; This silver diaspora often prefers southern European or North African countries to stay close to France, but clichés be damned &amp;excl; Some seniors also venture into faraway lands to try their hand at professional retraining&amp;period; <&sol;b><&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">According to Ministry figures, 15&amp;comma;3&amp;percnt; of those on the register of French nationals living abroad are over 60&amp;period; A figure that is constantly rising&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">At the 18<&sol;span><span class&equals;"s2"><sup>ème<&sol;sup><&sol;span><span class&equals;"s1"> With more than 30,000 French retirees already settled on the Lusitanian peninsula, Portugal is the ideal Eldorado for senior citizens looking for proximity to France, sunshine and a low cost of living;- 10&amp;percnt; compared with France&amp;rpar;&amp;period; In addition&amp;comma; Portugal boasts an attractive tax system&amp;period; French residents benefit from a total income tax exemption on their retirement pensions for 10 years&amp;period; With the exception of former civil servants, who retain resident status&amp;period;<&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1"><b>Advantageous tax treaties for retirees <&sol;b><&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">In Morocco&amp;comma; non-French residents are taxed in their host country, and benefit from a 40&amp;percnt; allowance on the amount to be declared&amp;period; Between 20&amp;period;000 and 25&amp;period;000 retired French people are said to benefit from these tax advantages&amp;period; Combined with a low cost of living&amp;comma; less than 30&amp;percnt; compared with France&amp;comma; and an inexpensive range of personal services&amp;comma; Morocco is one of the preferred destinations for senior citizens&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">It's the same in Tunisia&amp;comma; but the abatement on the pension amount is 80&amp;percnt; &amp;excl; In addition&amp;comma; the Tunisian cost of living is reduced by half compared to the French cost&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1"><b>Only 39% of retirees move abroad for tax reasons<&sol;b><&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">Spain is still the country that attracts the most retirees, with 150,000 senior citizens already living there. Its proximity to France, climate and rich culture make it a favorite destination, despite its ".... <i>a tax system that is in some respects rather counter-incentive <&sol;i>"According to Nadège Gaillard&amp;period; In addition&amp;comma; the small number of retirees in tax-friendly countries such as Belgium &amp;lpar;1&amp;percnt;&amp;rpar; and Switzerland &amp;lpar;6&amp;percnt;&amp;rpar; show that the reasons for expatriation go far beyond tax issues&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1"><b>An adventurous senior population &amp;excl; <&sol;b><&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">According to a study<a href&equals;"http&colon;&sol;&sol;www&period;mysilverway&period;fr&sol;wp-content&sol;uploads&sol;2015&sol;02&sol;dp-mysilverway-enqu&percnt;c3&percnt;8ate-opinionway&period;pdf"><span class&equals;"s3"> <&sol;span><&sol;a>conducted among 911 French people aged 50 to 70&amp;comma; in 2015&amp;comma; 11&amp;percnt; would like to leave for " <i>realize their dream <&sol;i>"&amp;comma; often involving a career change&amp;period;  <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">Of the 262,000 retired expatriates living in 180 countries&amp;comma; 25&amp;percnt; are still working, compared with 2&amp;percnt; in France for the same age bracket&amp;period; Many young, active senior citizens leave to breathe new life into their professional lives&amp;comma; whether in NGOs&amp;comma; in entrepreneurship or in business&amp;comma; like the retirees who left for Florida in the early 2000s, attracted by falling real estate prices&amp;period; of the 100,000 French people present&amp;comma; a third are retirees&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">They also prefer developing countries&amp;comma; particularly in Southeast Asia, where opportunities are more plentiful&amp;period; In Thailand&amp;comma; the number of French people over 60 is said to have increased from 4 to 16&amp;percnt; from 2000 to 2015&amp;period; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><span class&equals;"s1">Some leave for Black Africa&amp;comma; where Senegal, for example, is very popular&amp;colon; there are around 5&amp;period;000 French retirees&amp;period; Benjamin Kisso&amp;comma; president of the association " <a href&equals;"http&colon;&sol;&sol;care4association&period;org&sol;"><span class&equals;"s3"><i>Care 4 <&sol;i><&sol;span><&sol;a><i>"&amp;comma; <&sol;i>specializing in assisting retirees and pre-retirees in Cameroon&amp;comma; affirms that French seniors bring a great deal to their host country&amp;comma; whether in terms of economics or expertise&amp;period; He strongly encourages seniors to venture beyond the southern Sahara &amp;excl; <&sol;span><&sol;p>&amp;NewLine;<p class&equals;"p1"><a href&equals;"http&colon;&sol;&sol;www&period;lepetitjournal&period;com&sol;expat&sol;vie-quotidienne&sol;244813-retraites-les-papys-font-leur-valise">Source<&sol;a><&sol;p>&amp;NewLine;

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