Moving to France can change more than your lifestyle. It can also change how you manage your money, where you invest and how you prepare for the future.

Many expats arrive in France with financial arrangements already in place. You may have built up a UK pension, held investments for years, accumulated savings in different currencies or started planning for retirement before relocating.

The challenge is working out how these different pieces fit together now that you live in France.

Should you keep your existing investments? Is it worth exploring French investment products? How should you approach retirement if your pension is in the UK but your day-to-day life is in euros?

There is no single answer for every expat. However, taking a structured approach can help you make informed decisions and avoid overlooking opportunities to organise your finances more effectively.

In this guide, we explore the practical steps to consider when investing in France as an expat, from reviewing the investments you already have to building a portfolio around your future plans.

Before opening a new investment account or making changes to your portfolio, start by understanding your existing financial position.

For many British expats, their wealth has been accumulated over several years in different places. Moving to France does not mean you need to start again.

You might have:

• A UK workplace pension from a previous employer.
• A personal pension or Self-Invested Personal Pension (SIPP).
• Investments held through a UK investment platform.
• Cash savings in sterling or euros.
• Shares, funds or other investments.
• Property or other assets in the UK or another country.

Bring these together into a clear overview. Note the approximate value of each asset, the currency it is held in, its purpose and any charges or restrictions.

This can help identify whether your money is working towards the same goals or whether you have separate investments that need a more coordinated approach.

For example, you may have several pension funds with different investment strategies while also holding a separate investment portfolio. Looking at them together can give you a better understanding of your overall exposure to markets and how much risk you are taking.

Money for the near future

This could include funds for a property purchase, relocation expenses, home improvements or unexpected costs. Money you expect to need soon generally should not be exposed to the same level of market risk as long-term investments.

Money for medium-term plans

You might be saving towards a future lifestyle change, helping children with education or preparing for an eventual move to another country.

Money for long-term growth and retirement

Investments intended to support retirement or build wealth over many years can often be approached with a longer investment horizon, depending on your circumstances and tolerance for risk.

Separating these objectives can make it easier to choose suitable investments without treating all your savings as one pot.

Living in France does not mean your investments need to be limited to the French market.

A globally diversified portfolio can give you access to businesses and economies across different regions, rather than relying heavily on one country’s performance.

Depending on your needs, a portfolio might include exposure to:

• International equities for long-term growth.
• Bonds to provide a different source of investment returns and risk.
• Funds or ETFs that offer exposure to a broad range of markets.
• Cash or lower-risk assets for specific short-term needs.

The balance between these investments should reflect your objectives, timeframe and capacity to withstand losses.

For example, an expat with a long investment horizon and stable income may have different requirements from someone who plans to begin drawing from their portfolio within the next few years.

Diversification does not remove the risk of loss, but it can reduce dependence on the performance of a single company, sector or market.

For expats, investment planning often involves more than one currency.

A British expat living in France may earn euros, hold a pension in pounds and own investments with exposure to several international currencies.

The important question is not simply which currency an investment is denominated in. It is how your overall financial position relates to the money you expect to spend.

Consider:

• Will your retirement expenses mainly be in euros?
• Do you expect to receive pension income in sterling?
• Might you return to the UK in the future?
• Do you have financial commitments in another country?

If your future spending will mainly be in euros, you may want to consider how changes in the pound-to-euro exchange rate could affect your income and purchasing power.

Currency movements can work in your favour or against you. Planning for them can help you understand the potential impact on your financial future.

It is often considered for long-term savings, wealth planning and retirement preparation. The investment choices, costs and contract features can vary, so it is important to understand what a particular arrangement offers.

If you are living in France and exploring investment options, Assurance Vie may be worth learning about as part of your wider financial plan.

We explain the features, potential advantages and important considerations in our dedicated guide: Assurance Vie – The Ultimate Expat Guide.

Other French savings and investment arrangements

You may also come across options such as the Plan d’Épargne en Actions (PEA), which is designed for eligible investments linked to European companies, and the Plan d’Épargne Retraite (PER), which is intended for retirement saving.

These arrangements have their own eligibility requirements, investment choices and access conditions. They may suit some investors but will not necessarily be appropriate for everyone.

The best starting point is to identify what you want your investments to achieve, then compare available options against those objectives.

For British expats, a UK pension can be a major part of their financial future.

If you have worked in the UK, you may have accumulated one or more workplace pensions, personal pensions or SIPPs. These could provide an important source of retirement income while you are living in France.

Before considering a transfer or restructuring, understand what you currently have.

Questions worth asking include:

• What type of pension do you hold?
• Is it a defined benefit pension with promised benefits, or a defined contribution pension invested in a fund?
• What investment options are available?
• What charges apply?
• When and how can you access the benefits?
• How might the pension fit alongside your other retirement assets?

A pension transfer is not automatically beneficial. In particular, giving up valuable guarantees or defined benefits can have significant consequences.

For some people, retaining a UK pension and reviewing its investment strategy may be appropriate. Others may wish to investigate whether an International SIPP or another arrangement meets their needs.

Any recommendation should be based on a detailed assessment of the existing pension and the alternatives.

Building an investment portfolio is one part of financial planning. Working out how to use it later is another.

If you plan to retire in France, you may eventually rely on a combination of pension income, personal investments, savings and other assets.

It is worth thinking about how these sources might work together.

For example, you may want to understand:

• When you expect to retire.
• How much income you may need each year.
• Which pensions could provide income and when.
• Whether you will need to sell investments to fund spending.
• How much flexibility you want over withdrawals.
• What reserves you may need for unexpected expenses.

An income plan can help you assess whether your current savings and investments are on track to support your intended retirement lifestyle.

It can also help you identify potential gaps early, while you still have time to adjust your saving or investment approach.

Some expats expect to remain in France permanently. Others may move again for work, family or retirement.

If you are internationally mobile, it is worth considering whether your investment arrangements can accommodate a future change of residence.

A global investment account may offer access to investments across different markets, depending on the provider and your eligibility.

When assessing an account or investment platform, consider:

• Which investments are available.
• Whether you can hold or transact in different currencies.
• The overall charges.
• How easily you can access information about your portfolio.
• Whether the provider can continue servicing you if you relocate.

The account is only one part of the investment decision. The portfolio itself should remain appropriate for your goals, risk tolerance and circumstances.

Your investments should not be considered separately from the rest of your financial life.

A change in employment, a property purchase, an inheritance, a move to another country or approaching retirement can all affect the decisions you need to make.

Reviewing your financial arrangements periodically can help you check that:

• Your portfolio still reflects your goals.
• Your investments are appropriately diversified.
• Your pension arrangements remain suitable.
• Your savings are available when you need them.
• Your financial plan reflects your current and expected circumstances.

For expats, a review can be especially useful when your country of residence or future plans change.

If you are living in France and want to make better use of your money, start by reviewing what you already have and identifying what you want your investments to achieve.

You may not need to replace your existing arrangements. You may simply need to understand how your pensions, investments and savings fit together and whether they still support your plans.

For British expats, this often means looking at UK pensions alongside other investments, considering future retirement income and exploring investment options that suit life in France.

At Galileo Wealth, we provide bespoke financial planning and wealth management advice for internationally mobile clients and expatriates across Europe.

If you are living in France and would like to review your investments or UK pension arrangements, contact Galileo Wealth for a free consultation.

We can help you understand your options and consider a financial strategy tailored to your circumstances and long-term goals.

This article is for general information only and does not constitute personal financial advice. Investments can fall as well as rise in value, and you may get back less than you invest. The suitability of any investment depends on your individual circumstances.