Wealth management for expatriates & non-residents
“Alexis, I’m moving to Singapore next month. What should I do with my flat in Lyon? Is my French assurance-vie still suitable? And above all, how do I stop the tax authorities from still treating me as a French resident?”
In 2026, moving abroad has become a smoother undertaking than ever, yet the administrative and tax complexity has never been denser. Between the new European directives on banking transparency and the French tax reforms of early this year, managing your wealth from a distance can no longer be improvised.
At Balmont Conseil, we understand that behind every international wealth strategy lies a life plan, a family on the move and, often, a legitimate apprehension in the face of a French bureaucracy perceived as a labyrinth. As an AI-augmented wealth engineer, my mission is to become your control tower: securing your assets, optimising your tax position and giving you the peace of mind you need to make your life abroad a success.
1. The specifics of wealth management for expatriates
Becoming a non-resident for tax purposes changes everything. It is not just a matter of geography; it is a shift in legal and financial paradigm.
The notion of tax residence: the point of rupture
The first challenge is to validate your exit from the French tax household. In 2026, the criteria of article 4 B of the CGI (French General Tax Code) are closely scrutinised by the authorities. If your centre of economic interests or your household (spouse/children) remains in France, you could face devastating double taxation. A dedicated wealth audit is therefore the essential first step, even before you start packing.
Mobility: a “nomadic” estate
An expatriate does not have the same needs as a resident. Your investment horizon may change, your currency requirements evolve, and asset protection must be conceived on a global scale. You have to anticipate the instability of certain international banking systems and the volatility of exchange rates, which can affect your supplementary income abroad.
2. Which investments should you favour as a non-resident?
The classic mistake is to keep purely “French-only” products (Livret A, LEL, a PEA that sometimes becomes restrictive) which lose all their tax rationale once you cross the border.
The Luxembourg assurance-vie: the queen of expatriation
If the French assurance-vie is a good tool, the Luxembourg life-insurance policy is its “haute couture” equivalent for the non-resident.
- Tax neutrality: Luxembourg does not tax non-residents. Only the tax rules of your country of residence apply.
- Security: the Luxembourg “Triangle of Security” protects your assets should the insurer fail — a guarantee far superior to the French system.
- Multi-currency: you can invest in Euros, Dollars, Swiss Francs or Pounds Sterling within a single policy.
SCPI for expatriates: property without the hassle
Property investment for non-residents through SCPI (real-estate investment companies) is a widely favoured solution in 2026.
- Delegated management: no tenants to manage from Tokyo or Dubai.
- Optimised taxation: certain SCPI invested elsewhere in Europe (Germany, Spain) make it possible to avoid French social levies (CSG/CRDS) on the income — an immediate net gain for the non-resident.
Property loans for expatriates
Obtaining a loan while living abroad has become an uphill battle. Banks often require a larger deposit (20 to 30%) and a more thorough risk analysis. Our role is to build robust financing applications thanks to exclusive resources and support for expatriates.
3. The labyrinth of international taxation
Expatriation and taxation form a complex pairing governed by international tax treaties.
The taxation of French-source income
Even as a non-resident, the income you leave behind in France (rents, dividends) is taxed.
- Rental income: a minimum rate applies (often 20% or 30% depending on the thresholds) plus social levies (unless you fall under a social security scheme of the EEA or Switzerland).
- Dividends: a withholding tax is generally applied, the rate of which can be reduced thanks to the tax treaty between France and your host country.
The exit tax: the “toll” on departure
For large financial estates (more than €800,000, or 50% of a company’s share capital), the exit tax may apply. It is not necessarily a tax to be paid immediately, but a deferral of taxation that must be declared and monitored with a bespoke investment strategy.
The real-estate wealth tax (IFI)
The IFI does not stop at the border. As a non-resident, you remain taxable in France on your French real-estate assets if their net value exceeds €1.3 million. Tax optimisation for expatriates often involves restructuring the property debt.
4. Why choose a specialist firm?
Engaging a personalised advisory service such as Balmont Conseil means giving yourself a bridge between two worlds.
- A 360° view: your local banker abroad does not know French taxation. Your banker in France does not understand your non-resident needs. We are the link.
- Estate planning: international gifts and inheritances are ticking time bombs. Without estate planning for expatriates, your heirs could face double taxation or conflicts of law (law of residence vs law of nationality).
- Detailed wealth audit: we carry out a tax-risk analysis for each country in which you hold assets.Responsiveness and technology: in 2026, we use digital tools that allow real-time monitoring of your wealth, whatever the time zone.
5. Anticipating the transitions: departure and return
An expatriate’s wealth is not static. It must be prepared for two critical moments.
The wealth review before departure
It is ideally prepared 6 to 12 months in advance.
- Closing of regulated savings accounts.
- Reorienting savings towards tax-neutral vehicles.
- Setting up efficient international savings management.
The return to France and taxation
The return is prepared with just as much care. The “tax shock” must be avoided.
- Inbound-expatriate regime (régime des impatriés): a powerful tool to reduce personal income tax for 8 years for executives and directors.
- Tax regularisation: making sure that all accounts opened abroad have been properly declared (form 3916) to avoid heavy fines.
6. Tax optimisation and asset protection
Tax optimisation for expatriates is not limited to reducing tax; it aims to strike a balance between profitability and legal security.
Withholding tax and the average rate
For your French-source income (excluding property), a withholding tax is often levied. It is sometimes more advantageous to opt for the average rate of taxation (taux moyen), which allows your French tax to be recalculated on the basis of your theoretical worldwide income. This requires a meticulous tax-risk analysis to ensure that the option is genuinely beneficial.
Social levies: the expatriate’s battle
Since the recent reforms, if you fall under the social security scheme of an EU/EEA country or Switzerland, you benefit from a drastic reduction in social levies on your French rental income (falling from 17.2% to 7.5%). For residents outside Europe, the charge remains 17.2%, which makes the optimisation of financial investments through other vehicles (such as capitalisation) a priority.
| Investment vehicle | EU/EEA resident | Non-EU resident (e.g. USA, Asia) |
| Property (rental income) | Tax + 7.5% social levies | Tax + 17.2% social levies |
| European SCPI | Local taxation + tax credit | Local taxation + tax credit |
| Assurance-vie (withdrawals) | PFU flat tax (30%) or treaty | Treaty (often < 15%) |
7. Wealth transfer and inheritance: preparing for the invisible
International gifts and inheritances are the most treacherous of areas. France takes a very broad view of its right to tax: if the deceased, the heir or the asset is in France, the French tax authorities will invite themselves to the table.
- Estate planning for expatriates: it is crucial to draw up an international will to choose the law applicable to your estate (European Succession Regulation).
- Lifetime gifts: take advantage of the allowances that renew every 15 years to pass on French assets to your children who have stayed in France or live elsewhere, while keeping an eye on the local legal specifics that could tax the gift in your country of residence.
8. Anticipating the key stages: departure and return
The wealth review before departure
Do not leave without a detailed wealth audit. This is the moment to close accounts that have become pointless (PEA, regulated savings accounts as the case may be) and to organise the management of your future income. It is also here that we deal with the question of the exit tax if you hold significant financial shareholdings.
The return to France and taxation
The return is prepared two years in advance. There are favourable regimes such as the régime des impatriés (inbound-expatriate regime), offering massive exemptions from personal income tax on the portion of remuneration linked to the assignment and on part of your foreign financial income. A bespoke investment strategy put in place before the return can maximise these advantages.
9. Why choose a firm specialising in international wealth management?
Traditional retail banking is often ill-equipped to handle the issues faced by non-residents (inability to open accounts, unfamiliarity with treaties, form 2042-NR overlooked). A personalised advisory service offers you:
- Cross-disciplinary expertise: a command of taxation, international civil law and global financial markets.
- Constant regulatory monitoring: finance acts change, and so do treaties. We keep watch on your behalf.
- Human support: we understand the isolation an expatriate can feel when confronted with a complex administration. We are your trusted relay in France.
FAQ: your questions, our expert answers
Q: I already pay tax in my host country — will I be taxed twice?
A: Thanks to international tax treaties, double taxation is generally avoided, either through a tax credit or an exemption. Each treaty is different, however. A precise analysis is required.
Q: Can I keep paying into my French assurance-vie?
A: Yes, but the French tax advantage may disappear in favour of the tax rules of your country of residence. This is often the moment to switch to a Luxembourg assurance-vie for greater flexibility.
Q: What happens to my pension rights?
A: This is a major point in preparing for retirement abroad. Between the quarters contributed in France, bilateral agreements and the pension reform, pension-rights planning is essential to fill any gaps with private savings.
Q: How do I pass on my assets if my children live in a different country from me?
A: Estate planning for expatriates is complex because it blends civil law and taxation. We often use suitable tax structures (SCI, holding companies) to facilitate the protection and transfer of assets without administrative deadlock.
Conclusion: your mobility is a strength, not a constraint
Expatriation is an exceptional accelerator of wealth. The international tax environment offers levers you would never have had by staying put. But for that mobility to turn into financial success, it must be steered by a bespoke investment strategy and a personalised advisory service.
At Balmont Conseil, we do not merely manage figures; we protect your future and that of your family, wherever you are on the globe.
Would you like us to carry out your first expatriate wealth review?
Whether you are in the process of leaving, already settled or about to return, I can offer you a detailed wealth audit to identify your optimisation levers and secure your 2026 tax position.