Tranio client’s experience: apartments on the French Riviera and obtaining a residence permit financially independent

The content of the article

1. Nice is the pearl of the French Riviera
2. Why is it interesting to invest in Nice real estate?
3. Apartments in the Musicians’ Quarter
4. Registration of real estate for a Russian passport in France in 2024
5. Obtaining a residence permit by an investor in financially independent France

France is a country known for its quality of life, economic well—being, progressive social security system, developed infrastructure, high environmental standards and care for historical heritage. A residence permit in France allows you to enjoy all rights and state social programs on an equal basis with citizens of the country, with the exception of political rights.

Today, France is one of the most loyal EU countries in terms of issuing long-term visas and residence permit cards to citizens of the Russian Federation. If all the necessary conditions are met, the probability of obtaining a resident card is very high.

The easiest way to obtain French residency is to obtain a residence permit for a financially independent person in France. The main conditions for obtaining it:

• prove your financial viability (have sufficient passive income);
• have an official address in France;
• have a residential property in any other country except France;
• make a commitment not to get hired and not to do business in the country.

By purchasing real estate in France, the investor receives a residence address in France, to which the requested residence permit can be issued.

Nice is the pearl of the French Riviera

Investor Kirill, a Russian businessman and a citizen of the Russian Federation, wanted to purchase real estate on the French Riviera in order to obtain a residence permit for a financially independent person and create a “reserve airfield” in the EU. The client considered secondary or new buildings with delivery no later than 2024 in order to promptly receive a resident’s card immediately after purchasing the property.

In the past, Kirill has repeatedly visited the Cote d’Azur and purposefully considered this region for the purchase of real estate, knowing about the good income potential from renting French seaside resorts. The investor’s plans were to rent out his apartments for a short time when he was not in France. The investor was looking for presentable apartments in a tourist location, comfortable in terms of transport accessibility, proximity to beaches and famous sights of the old town. As a result, Kirill made his choice in favor of Nice, a French seaside resort on the Mediterranean coast.

According to the French agency meilleursagents.com over the past year, the cost of real estate on the Cote d’Azur has increased by an average of 1.3% for apartments and 0.7% for private villas, and over the past 10 years — by 25.1% for apartments and 29.5% for private villas. At the same time, the average cost of a square meter. The meter in the Alpes—Maritimes department in 2024 is 5,081 euros when buying an apartment and 5,586 euros when buying a house, and rental rates are 18 and 19.4 euros per square meter. a meter for an apartment and a house, respectively.

Nice is the pearl of the French Riviera, a resort city that received its status as a vacation destination for the aristocracy and bohemians during the “Belle Epoque” period, in the late XIX – early XX century. It was during this period that the modern look of Nice’s Promenade des Anglais was formed: the coastal area was completely built up with palaces, grand hotels and casinos. The city also has well-preserved heritage sites of Hellenism and the period when Nice was part of the Duchy of Savoy: buildings in the architectural style of the Italian Baroque, historical monuments and street names. Each quarter of Nice is unique in its own way, has its own historical context and unique atmosphere.

The city is also known as the main European resort of the Russian aristocracy: since the middle of the XIX century, after a visit to Nice by Empress Alexandra Feodorovna, the highest society of the Russian Empire chose this place for residence in the winter months. After the revolution, the city was one of the centers of Russian white emigration: centers of Russian culture were formed in Nice, and in the 1930s there were more than 5 thousand immigrants from Of Russia.

Today, Nice is not only a resort, but also an international business center, the venue for many world political forums and EU summits. Nice International Airport is the third largest passenger traffic in France, the railway network and high-speed highways connect the city with other resorts of the Cote d’Azur, the Principality of Monaco and neighboring Italy. The city has several museums with a collection of French and world paintings: the Museum of Fine Arts, the National Museum of the Biblical Message of Marc Chagall, the Massin Museum and the Matisse Museum.

Why is it interesting to invest in Nice real estate?

1. Good financial potential. Every year, real estate in Nice adds value even in conditions of global economic instability. Over the period from 2014 to 2024, the cost increase amounted to more than 25%.
2. Rental income. Nice is one of the most visited seaside resorts in Europe. Due to the comfortable climate, the flow of tourists does not decrease in the off-season.
3. High-quality housing stock. Both new buildings and renovated housing in Nice meet the highest European quality standards. The infrastructure for comfortable rest and leisure within one block has been created around residential complexes.
4. “Alternate airfield”. Nice’s warm maritime climate with moderately hot summer months and Mediterranean winters without snow is the best place for temporary or permanent relocation. Buying a property is the first step in obtaining a residence permit in financially independent France.
5. Transport infrastructure. Nice is located at the intersection of land, air and sea routes in Europe. Nice International Airport is the third largest in France and receives daily aircraft from both EU countries, as well as countries in Asia and Africa.
6. A comfortable urban environment.Being the fifth largest city in France, Nice, nevertheless, remains a small seaside resort, where it is convenient to reach any point in the city on foot. Supermarkets, banks, pharmacies, medical and educational centers are within walking distance.
7. Conditions for a good rest. The Cote d’Azur region provides a cultural and sports program for every taste: in addition to the classic beach holidays and cultural institutions of Nice, vacationers can visit wineries and lavender fields in Provence or the ski slopes in the nearby Maritime Alps.

Apartments in the Musicians’ Quarter

The work with the investor and the full support of the transaction was conducted by Tranio’s expert in the French region, Alexandra Borisova. Alexandra has been working with the French real estate market for more than 4 years and is familiar in practice with all the features of purchasing residential and commercial premises and document management in this country. At the request of the client, the manager can select an investment property in order to receive the highest rental income or comfortable apartments for personal residence with suitable infrastructure within walking distance.

Kirill’s viewing and purchase of real estate took place completely remotely. The investor studied several options on the secondary market and one new building with delivery in the 1st quarter of 2024. At the time of viewing, the developer had only 2 apartments left and there was a special offer — a discount of 15 thousand euros. The apartments in the new building fully met the client’s needs, and as a result, Kirill chose them. The final agreement was concluded on August 10, 2023, the purchase was issued with a Russian passport, payment was made by transfer to a notary in France from a Russian account with Raiffeisen Bank – on the basis of an equity agreement. In addition, the client also had accounts in Germany, Serbia and Kazakhstan, but they were not needed to pay for this transaction.

Kirill’s choice was a spacious apartment with a terrace in the Musicians’ Quarter, located in the very center of Nice, worth 699 thousand euros. A special feature of the complex is the preservation of the external historical facade facing a busy street, which hides a completely modern block of buildings built according to modern technological and environmental standards.

Inside the complex there is a courtyard with landscaping, as well as parking and bicycle storage. The apartments are decorated in bright colors, natural wood parquet is used in the decoration, the bathroom is equipped and furnished, roller shutters, a security system and a video telephone are installed.

The Musicians’ Quarter is in great demand due to its advantageous location in the very center of the city — next door is the “Golden Square” of Nice and the famous Promenade des Anglais. The spirit of the quarter takes us back to the period of the “Belle Epoque” in France. At the same time, the area itself is very quiet and suitable for a calm, measured life in the center of a seaside resort town.

Registration of real estate for a Russian passport in France in 2024

Currently, it is possible to apply for French real estate on a Russian passport for citizens of the Russian Federation. According to Russian law, in 2024, residents of Russia are allowed to buy real estate abroad with certain restrictions. French law reliably protects the right to private property after purchase, and the acquired property becomes a factor that gives the right to obtain a residence permit in this country.

Russia and France have signed a convention on the avoidance of double taxation, thanks to which it is possible to refund the tax paid twice if taxes are provided for in both countries.

Obtaining a residence permit by an investor in financially independent France

Since the main purpose of the client was to obtain a residence permit, immediately after the conclusion of the final agreement, the investor, with the help of a Tranio lawyer, began collecting documents and preparing for applying for a long-term visa at the consulate. At the end of November, documents were submitted at the consulate of Kazan, and a month later Kirill and his wife received passports with ready-made visas. In mid-January 2024, the investor went to France to validate a visa, and after a couple of weeks Kirill and his wife received annual cards of residents of France on the basis of financial independence.

According to French law, obtaining such a residence permit does not require knowledge of the French language.

It is necessary to extend the residence permit once a year — two months before the expiration of the residence permit card. After 5 years, the client can apply for long—term permanent residence, and then for citizenship by naturalization, subject to all necessary conditions and passing an exam on knowledge of the language and culture of France.

In the future, the investor plans to stay in the purchased apartments during visits to France, and the rest of the time to rent out the property for short—term rent.

The Tranio team will select real estate in France for you for any investment purposes, tell you the optimal strategy and help you with obtaining a residence permit after purchase.

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