Residence Permit in France for Financially Independent Persons

France is one of the most developed countries not only in the European Union but also in the world, attracting financially secure foreign citizens with a high standard of living, a stable economy, and broad prospects.

What Does a Financially Independent Person Mean?

An applicant who receives a stable passive income or possesses sufficient personal savings is recognized as a financially independent person. Income can come from pension savings, stocks, bonds, royalties, deposit account payments, or investment interest. The amount must be sufficiently comfortable for the applicant to live freely in France on income coming from outside.

When applying for a residence permit for a financially independent person, it is important to know that the resident will be prohibited from being employed or registering their own business in the country. Ownership of a company share is allowed, but not holding managerial positions.

Conditions for Obtaining a Residence Permit for Financially Independent Persons

Obtaining resident status in this country is quite realistic for candidates who meet the key conditions of the French immigration program for financially independent persons.

The applicant must:

• Show a stable income earned outside the French Republic, amounting to at least €15,600 per person. If a spouse, children, or parents are included in the application, the amount will increase for each person.
• Have savings in a bank account of at least €15,000 for the main applicant and €6,000 for each family member included in the application.
• Obtain a health insurance policy for each applicant specified in the application. For EU countries, the coverage amount must start from €30,000.
• Long-term rent or purchase housing – having a place of temporary/permanent registration.
• The applicant cannot be a citizen of the EU, EEA, or Switzerland.
• The candidate must be over 18 years old, without a criminal record, without visa violations in any country, and without diseases that pose a threat to public life and health.

Along with the main applicant, the spouse, financially dependent children up to 25 years old, and parents over 65 years old can participate in the program.

Documents Required for Obtaining a Residence Permit

To obtain a new status, the following documents must be submitted to the embassy:

• An application form was filled out by the candidate, which is also a long-term visa-type VL-TS application.
• A written obligation stating that the applicant agrees not to engage in employment in the country.
• The resident’s passport must be valid for longer than the requested residence permit period.
• The applicant's birth certificate.
• The resident's passport.
• A medical examination report issued by the French Office for Immigration and Integration (OFII).
• Three recent photographs (taken no more than a month before submitting the documents).
• Proof of registration address – purchase/rental agreement, utility bills for 3 months.
• Health insurance policy with coverage from €30,000.
• Proof of financial security – a bank statement for the last 6 months, a salary certificate, proof of receiving rent, pension, or interest.
• Proof that children are enrolled in a local kindergarten or school (if necessary).
• Receipts and invoices confirming the payment of all fees.

Depending on the applicant's situation, there may be a request to submit additional documents. All forms must be filled out in French or English. Documents obtained outside France must be translated into French and notarized.

Independent Obtaining of a Residence Permit for Financially Independent Persons in France

Of course, it is much easier and simpler to entrust the procedure of obtaining another residency to a specialized company or qualified lawyer, but situations can be different. The applicant needs to know the existing obtaining a new status. If the applicant moves to France with a residence permit for financially independent persons, one of the first requirements is to enroll the child in school if they are over 6 but under 18 years old.

The process of obtaining a residence permit consists of several mandatory stages:

1. It is finding a place of registration for living. This can be the purchase of property in France or long-term rent for at least a year. The purchase of a property does not automatically grant the right to obtain a residence permit but will be an advantage when considering the applicant’s form.
2. Collecting and processing the necessary documents. Based on the basic list of documents, you need to collect all the papers and certify them as required by the receiving side – translation, apostille, and notarization.
3. They are submitting documents for a visa. The applicant applies to the consulate of the country of residence and submits the prepared package of documents, receipts for state fees, and the completed application form.
4. Obtaining permission. On average, the procedure for reviewing the application takes up to 60 days. The receiving side has the right to request additional documents and certificates and also conduct an interview with the candidate – either in person or by phone.
5. Obtaining new status. Within 3 months after entering France, it is necessary to register the received visa with OFII and submit an application to the prefecture at the place of residence to obtain a Visiteur card – an analog of a residence permit. For adult applicants, the permit is valid for a year but can be renewed indefinitely if the applicant continues to meet all the conditions for obtaining status. For minors included in the residence permit application, the visa is issued immediately for 5 years.

Alternative Ways to Obtain a Residence Permit in France

Resident status in France can be obtained not only through financial independence. Depending on the applicant’s situation and other conditions, there are other options for obtaining a residence permit.

Permits can be categorized into several groups, each including a specific category of permits:

• Talent Passport Program – includes 11 types of permits. Entrepreneurs, startups, business creators, investors, skilled employees, researchers, and internationally recognized artists can obtain a residence permit for 4 years.
• Private and Family Life – foreign spouses of French citizens, parents of a French citizen child, applicants applying for family reunification, and foreigners who came for medical treatment can obtain this type of residence permit.
• Employed Worker – a residence permit can be obtained based on a contract concluded with an employer in France.
• Entrepreneurship – a residence permit can be issued based on the registration and operation of a business in the country.
• Others – seasonal workers, pensioners, refugees, students, seconded employees.

Benefits of a French Residence Permit for Foreigners

• The right to visa-free travel between the Schengen Agreement countries.
• The prospect of obtaining French citizenship after 5 years of legal residence in the country.
• The right to extend the residence permit without obtaining tax resident status.
• The exchange and receipt of a French driver's license (without an exam).
• The possibility of obtaining visas to the USA, Canada, Australia, and New Zealand through a simplified procedure.

Terms of Obtaining

• Processing time: 2-3 months.
• Minimum passive income: calculated similarly to the amount of bank savings.
• The validity period of the residence permit: is 1 year with the right to annual renewal.
• Possibility of transitioning to permanent residency or citizenship: permanent residency and citizenship after 5 years of obtaining the first residence permit.
• Residence conditions in the country: no mandatory terms, but it is advisable to visit France twice a year.