Hi

A very warm welcome to my September newsletter.  Is it just me or is there a distinct feeling of Autumn in the air?  Our summer was – well – not the greatest we have ever known in terms of sunshine was it?  As you know, I was tremendously lucky to spend several weeks in la belle France over the summer and it will not surprise you to know that the weather was a lot kinder over there.  Indeed, it remains very temperate as I write.  I will let you into a little secret: September is my favourite month!  Although the summer is over, it can be a glorious time of new beginnings and is certainly an excellent month to pay a visit to your favourite country and mine.  There are fewer tourists, the schools have started again but the days remain quite long and I have always found there is a definite sense of peace and beauty as the sun becomes lower in the sky.

But before the summer fades in our memory however, I thought this month, as the leaves start to turn colour, it might be good to start with a bright sunny picture of me in the centre of Bordeaux so that you will hopefully retain an image of France in the height of the summer.

This picture was taken by my new husband on a swelteringly hot day when we were on our way back to the UK, having covered a good deal of France by car.  We loved Bordeaux, it is what I would call a very “handsome” city, beautifully kept and most welcoming.  Do read on for my own personal overview of Bordeaux later on in this newsletter.

Alexis in Bordeaux

I have lots more good reading for you too in this month’s newsletter.  Should you still be mulling over whether to move permanently to France (I KNOW many readers are tempted in these days of gloom and doom in the UK!), I have a few of my hot tips for getting your house in order for your new life there.  Of course there is a wealth of information, in fact all you would ever need to know in our famous France Buying Guide so if you have yet to arm yourself with a copy, simply click here and we will be delighted to send you one:

http://www.FranceBuyingGuide.com/guide.htm

We also have a truly wonderful property feature for you and our very own Charles Purdy from Smart Currency Exchange gives you his own hot tips about how to save your hard earned money when it comes to currency transfer:

http://www.smartcurrencyexchange.com/

There’s a bit about financial planning, I show you a wonderful French property and I have sneaked in a tale or two from our lovely French honeymoon and I recommend to you a few professions who come highly recommended.  There is a Top Tip and I have also popped in a short ‘What’s on in France’ paragraph – if there is anything coming up in the months ahead that you think other readers may be interested in just give me a call on 0207 898 0549 or drop me an email at:
mailto:Alexis@overseasguidescompany.com

I continue the discussion on non-resident status from last month before finishing up with a truly heart warming tale from one of your fellow readers to share with you.

Please don’t forget you are welcome to contact us for help with any aspect of moving to or buying a holiday home in France.  We offer an excellent and totally personal service and are always happy to help in any way we can.  Just pick up the phone or ping me an email – or you could simply fill out our resources form and we will do our best to put you in touch with people we know and trust in order to help you find EXACTLY what you really want.

http://www.FranceBuyingGuide.com/property.htm

Now sit back with your glass of Bordeaux and enjoy this month’s newsletter!

Kind regards as always,

Alexis
mailto:Alexis@overseasguidescompany.com
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)

Getting your house in order for your new life in France- a few of my favourite tips!

I know I am by no means the only one feeling this country is just not what it used to be.  It seems we are still in the midst of the global economic slowdown and our pockets may have never seemed so shallow. However, it’s not all doom and gloom.  The pound has recently reached its highest rate for many months and there is some sign that the property market is starting to pick up which is good news for property buyers abroad.

Plus let’s not forget that neither the economy nor the sometimes weak pound can affect some of the main reasons why expats move to France from the UK: great food and wine; a rich culture; sunnier weather; safer, cleaner streets and, in many areas, a more traditional way of life.

Whether times are hard for you or not, it is always worth getting your finances checked out in order to make savings wherever possible.  Here at the Overseas Guides Company, we not only offer you a wealth of tips to help you with this, we can put you in touch with the very best experts for financial advice and Smart Currency Exchange will undoubtedly save you money when it comes to changing your hard earned Sterling into Euros.

If you have not already done so, just pop us a line about what you would like help with by clicking here: http://www.FranceBuyingGuide.com/resources.htm

If youare thinking of buying a French property, here are a few hints and tips to ensure your money is working as hard as possible:

• Absolute no. 1 is to get Smart Currency Exchange to arrange all of your currency transactions.  We have helped hundreds of our readers this way, I use them myself and cannot emphasise enough how marvellous it is to know that you have quite a bit of extra cash in your pocket compared with the bank rates.  Not only that, any income you receive once you are in France may still be paid in sterling (for example, existing income, pensions etc.) and therefore the amount you receive will fluctuate.  Using Smart will save you a considerable sum.  You can, for example, fix a rate for a certain period of time which will give you a clear idea of your budget.

www.smartcurrencyexchange.com

• Talk to an adviser.  As well as helping you with ways in which your capital can be restructured in a tax-efficient way for your life in France, a good adviser will also be able to guide you through the steps for closing down your tax affairs in the UK. 

• Shop wisely – more easily done in France I have to say!  Check out your local market for wonderful fresh produce, or you could even grow your own.  Some friends of my husband and I have bought a lovely property in the Midi-Pyrenees and are simply delighted to see their recently planted vegetable garden coming to fruition.  You can save a lot of money this way and have such fun turning a corner of your garden into a haven for carrots, tomatoes, onions etc.  Check out Aldi and Lidl, both are wonderful in France and have a great range of food. 

• Learn some French, learn about the culture, always try to meet new people when you visit: word of mouth works well in France, particularly in rural villages.

• If you are hoping to work in some way, look out for organisations that need fluent English speakers and use all the contacts you have to hear about available work because many jobs are not advertised.  It is definitely who you know, now what you know in France.

These are just a few hints about how to go about your France move sensibly.  If you like these tips and are looking for more of the same do invest in our France Buying Guide.  It holds so much useful, practical information and has become a true “France Bible” for so many of our readers and is something you can dip into whenever the need takes you. You can either download it on line or we will send you out a hard copy by first class post.  It is beautifully bound, easy to read and is one of those things that will make you wonder how you managed before it came along!

To get YOUR copy, simply click here:

http://www.FranceBuyingGuide.com/guide.htm

There’s something about sterling…

by Smart Currency’s Charles Purdy.

So what is the problem with sterling? Since the start of August we have had significant sterling depreciation against most currencies. Clearly we have had major problems following the collapse of Northern Rock, the Royal Bank of Scotland and HBOS [Halifax Bank of Scotland]. But so have the US and the Eurozone had problems with their financial system and, like us, continue to do so.

Therefore why is sterling the pariah? The problems for sterling are numerous. The UK economy was very dependent on the finance sector which suffered most in the credit crunch. We also suffer from a balance of payments deficit which means that flows of funds out of the country exceeds inward flows - never good long term. The US$ and the € have the benefit of  the former being viewed as the world’s reserve currency and a safe haven asset.  The latter is a very major world currency used as a common currency by a large number of countries, one of which is the world’s greatest exporter, namely Germany. We also have a Central Bank who seems to lack the fire power or the efficiency of the European Central Bank who seem to be able to make large funds available to its banks at a moments notice.

But the major problem is the Government’s budget deficit - which existed prior to the credit crunch - and it’s huge explosion resulting in record Government borrowing.  Also there is no political will or cogent plan to cut it prior to the next general election. Until we see this plan and people believe in it sterling will have no “fans” internationally. And until we see investors start to view sterling positively again it is very unlikely we will see a significant appreciation in sterling, certainly not against the euro.

In fact some commentators see us returning to parity with the £1=€1 by the end of the year. If this does happen, your €’s would cost you 10% more than they would at the moment. Do you want this to happen?

If not, you need to contact Smart Currency immediately – call on 0207 898 0549 or freephone 08081 630 102and have a chat about ways you can avoid this. 

To read the latest on Sterling and the Euro go to: http://www.FranceBuyingGuide.com/Currency240909.htm

View up-to-date currency reports Rate movement alerts and much more... Go to: http://twitter.com/SmartCurrency

Why overseas property buyers lose money...
...and how you can avoid it!

This 10-page educational report outlines:

• Case Study: When Property Buyer, Mr Reed, Purchased an Overseas Property, he Made Three Mistakes that Cost Him £10,256...learn how you can avoid them...
  
  
• How the Banks make HUGE profits from their long-standing unsuspecting customers
  
  
• Ways to safeguard yourself against adverse fluctuations in exchange rates (or in other words, helping you to keep your money in your pocket)
  
  
• The entire process of moving money from the UK to any overseas location, so that you're armed with all the knowledge you need to make intelligent decisions about your money
  
  
• How you can ultimately save £100’s and £1000’s so that you have ample money to buy furniture and white goods…
  
  
• More case studies of people that lost money due to foreign currency strengthening against the pound, so that you learn from other peoples mistakes rather than your own!
  

And just a couple remarks about the report from our readers...

" We have found your free report to be extremely helpful... Wendy Watson"

"I have read and absorbed the information in the stories outlining the mistakes which the uninitiated can make when transferring currency. It is very illuminating and essential that any one,like myself, who is in the process of buying an overseas property should be aware of. I would go so far as to say that every agent selling overseas properties should be compelled to advise their prospective purchasers that it is paramount that they use a currency expert such as yourselves. Regards, Eric Thomas"

To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm

To get a Better-than-Bank rate go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
or call Carl on 08081 630 102 freephone.

Property Near Montpon, Dordogne

170,000 €
Situated on the edge of a lively village, this two bedroomed property is oozing with charm.  The house is set in 1500m2 of gardens, mainly laid to lawn with 30 m2 swimming pool, patio, vegetable garden, car port and log store.

The house is of original stone construction and has been substantially renovated by the present owner to a very high standard and is therefore ready for immediate occupation.

There is loft space to create a third bedroom if required and provision has already been made for heating from the newly installed town gas central heating system. There are lovely original features such as a old glazed front door, French (appropriately!!) doors in the kitchen that lead to the side garden, original tiled floors and a fenced garden with a vegetable garden plus a carport with ample space for two cars.

It is within easy access to both Castillon and Ste.Foy la Grande and Bergerac airport is just 40 minutes away by car.  Bordeaux, with its International Airport, shops, theatre, museums is just over one hour away.
Please give me a call if you want to chat about this (or any other) property – I am at 0207 898 0549.  Or perhaps you would prefer to fill in the short form at:  http://www.FranceBuyingGuide.com/property.htm

Bordeaux – a short overview of this beautiful city

Bordeaux is a port city on the Garonne River in SW France.  It is capital of the large Aquitaine area and is also prefecture of the Gironde department (no. 33!).  Did you know its inhabitants are called “Bordelais”?  The city is one of the leading major wine industry centres of the world and Bordeaux wine has been produced in the region since the 8th century!

The historic part of the city is on the UNESCO World Heritage List who termed it:

"an outstanding urban and architectural ensemble"

As well as a fine university and a wealth of schools, the heart of Bordeaux, which is mainly pedestrianised, has many fine shopping options, the shops being interspersed with some wonderful cafes, bars and restaurants.  Naturally, I loved this part whereas my husband was bowled over by the fine architecture.  He discovered an Architecture Exhibition and Research Centre which kept him amused whilst I happily wandered up and down the Rue Sainte-Catherine window shopping!

But you do not have to be a trained architect to realise that the ancient buildings are simply stunning.  There are also some beautiful churches and welcoming squares in the old city, mirrored with modern edifices across the Garonne river.  Living in this area means a great lifestyle, situated as it is between the sea and the mountains, the vineyards and the countryside.

Like Montpellier, there is an excellent tramway system, a 30 mile network with 3 routes linking the Right Bank with the Left Bank and the Bordeaux lake area with the centre of the city.  Cycling is also popular here and is a really practical way of getting around.  You will find many bike lanes and tracks.  Of course, for lovers of the grape, this is THE place to be, surrounded as it is by vineyards.

One lovely touch we thought was such a great idea is that there is a large open pavement with around 4 inches of water, almost like a mirror next to the road which divides the old city from the modern one.  The climate is pretty warm in the summer and it was a joy to see people cooling off by paddling through this water!

If you are thinking of a long weekend in France, you could do a lot worse than head for Bordeaux, it is very well served by several airlines and just south enough to catch WAY more sun than we do!  Let me know if you need advice on the best way to get there, our recommendations for car hire etc. – as you know we are here to help!  

http://www.FranceBuyingGuide.com/resources.htm

One of the many pedestrianised streets in Bordeaux

Professional Companies to help you

I am always on the lookout to find professional people for you – people who will not only do the job, but do it in an ethical, friendly and professional manner. Here are two companies that have proved really popular with guide readers. 

As an owner - or a potential owner - of a home overseas, you will already understand the importance of protecting your valuable asset. Until now it has been hard to find an insurer that really does what you want them to, that provides comprehensive protection and the flexibility you need to cover your home abroad.  Luckily I have found someone who does all this – and more – they actually insure properties in more than 40 countries!  Whether you are actually living there or not, or even if you have let it out, their policies are designed to cover every eventuality.

If you would like more information on this please click on the link below or contact me at 0207 898 0549 and let’s have a chat. Last month alone no fewer than 17 people clicked on our insurance link and purchased insurance through Intasure – not a bad recommendation in one month alone!

Intasure

Holiday lettings
holidaylettings.co.uk is the perfect site, both to find a place to stay locally while you look for your new home abroad and to advertise your property if you decide to rent it out. 

If you are renting out, a great facility is that you can check on how your advert is performing by clicking on the view enquiries section of your home management page. From here you can see the number of hits (visits to your page) you have had over the past 30 days and the number of enquiries you have had over the course of a year. It really is a well thought out and intensely helpful website that should maximise the number of people looking to rent your property.

One of my associates has managed to get very special deals for Guide Readers who are new advertisers on the holidaylettings.co.uk website.  If you enter 45749 as the promotional code, you can get 15 months of advertising (of your property) for the price of 12 months.  Or just click on the link and the code will appear automatically.

Holiday Lettings

And finally I must just briefly mention that I have a brilliant removal company for you.  This is what one of our reader’s has to say about them:

“I used this company twice during the past 4 years and have also used their storage facility in France. Both times I found them to be friendly, flexible and efficient. Nothing was too much trouble and I have absolutely no hesitation in recommending their service to others contemplating an overseas removal company. A very personal and professional service!”

So if you are moving abroad please just call me on 0207 898 0549 or fill in the brief form below and I’ll get in touch with you.

http://www.FranceBuyingGuide.com/resources.htm

Top Tip

It’s a money one this time!  We all need whatever help we can get during these days of seemingly ongoing recession and the very BEST advice I can offer you is to use Smart Currency Exchange for all your currency transfers.  You will save ££££s.   Most people set up something called a forward contract which is essentially an agreement to buy or sell a country’s currency at an agreed rate of exchange in the future.  This way, you will how exactly how much your foreign currency transactions will cost in pounds sterling, thus giving peace of mind.  Give Smart a call, they are all lovely guys who always answer their phone personally, no waiting around listening to terrible music or irrelevant button pressing!  Their phone number is: 0808 163 0102.

Here is what an Overseas Guides reader and Smart user Ian, who has now bought in France, had to say about Smart recently:

“The 3 months between 24th April and our completion on 22nd July saw the pound strengthen a bit and judicious use of Smart Currency forward reservation Euro rates saw us gain between £12,000 to £15,000 in our sterling outgoings we are very pleased indeed with Smart.  The regular updates of current are useful and the various staff members we spoke to assisted us greatly in the smooth accumulation of euros and the transfer without any hitches.”

What’s on in France?

There are numerous country fetes in the autumn across France, each town hosting its own special celebration, so wherever you are going, take a look in the local Mairie for details.

I have focused on Bordeaux this month - this city hosts many exciting events and some lively local festivals throughout the year. During September you can take advantage of their Heritage Weekends. Some of the best known historical buildings are open to the public, usually free of charge. There is everything from art deco architecture to a Roman amphitheatre so is a great chance to discover for yourself all the historic attractions this city has to offer.

Check out these other upcoming events in Bordeaux in the month of October:

• Festival International du Cinema features an annual awards ceremony and many free film showings

• Baby Fair which is held twice a year in the city in the Parc des Expositions, attracting thousands of visitors to view the very latest in baby products!

• Exhibition of Matisse and Marquet for art lovers in the Musee des Beaux Arts

Non-resident status continued!

I had input from one of our newsletter readers about the non-resident article that was in last month’s newsletter.  He points out that the Sunday Times article was not referring to people emigrating. I am popping in his reply for you:

It was specifically with respect to "Wealthy people planning to move abroad for part of the year to beat the 50% top rate of tax"

To put émigrés minds at rest, put simply if you move to a country that is not deemed a "Tax Haven" such as some Caribbean islands, then you are taxed on all your worldly income by that country and not by the UK. If you spend 183 days or more resident in that country in that country's tax year, then you will be taxed there and not here. If you have dividend income from UK companies then UK tax (currently at 10%) will be deducted at source but allowed against you tax in your country of residence (assuming a double taxation agreement exists). There might be slight anomalies during the first year because the UK tax year runs to 5th April each year, whereas most other countries run to the 31st December, however the double taxation agreement should cover that.

The possible difficulties arise if you do not spend 183 days or more per year in a single foreign country, For then the question will arise as to which country should tax you since you are no longer resident in a single country for the majority of the tax year. Some countries will claim the right to tax you if your main home is in their country. The UK has the notion of "Ordinary Residence", a term not defined in statute, but for at least 40 years to my knowledge the test has basically been if you spend 90 days or more per tax year in the UK or maintain a property you can use in the UK.

There should be no problems for a genuine émigré, nor for those permanently living abroad if their countries have a double taxation agreement with the UK. However the efforts of all tax administrations to catch those who wish to avoid all tax is likely to mean that you have to establish residence in a country with a double taxation agreement with the UK if you wish to avoid all avoidable UK taxes. If you have no assets in the UK the UK authorities are unlikely to pursue unless you spend more than 183 days in the UK in a UK tax year. As an example if you have substantial UK pension income and you move to a tax haven (e.g.. Turks and Cacaos Islands) your pension will continue to be taxed at source in the UK. If you move to a county with a double taxation agreement with the UK the UK authorities will allow the pension to be paid gross and your country of residence levy the appropriate tax.

Probably the biggest loophole plugged in recent years concerned capital gains tax. The UK can only tax you if you are resident in the UK for 183 days or more in the tax year, so people wishing to for instance sell assets (typical real estate or shares on which the was a substantial capital gain would move abroad for a year and sell the asset once abroad thereby avoiding what was then 40% capital gains tax. They would then move back to the UK the following year. The law has now changed in that HMRC can now charge you capital gains tax in respect of earlier years when you were not resident (i.e 183 days) in the UK if you were "ordinarily resident" which whilst not precisely defined it is generally accepted that you are not "ordinarily resident" if you did not have a property in the UK which you could stay in and did not visit the UK for more than 90 days a year in all of the last 4 years, but the matter could be muddied if you are not tax resident in any other jurisdiction.

I am sure that this is massively helpful and I am always grateful for any input that you may wish to share with other readers. Please do contact me if I can put you in touch with an IFA (Independent Financial Advisor) – it’s always a good idea to know exactly what you can expect in your new country. Just phone me on 0207 898 0549 or fill in the short form at:
http://www.FranceBuyingGuide.com/resources.htm

Financial planning

Financial Planning Week, which took place from 7th to the 13th September, was an information campaign run by the Institute of Financial Planning (IFP).  The main aim of the campaign was to assist the ordinary ‘man in the street’ - the likes of you and me - to deal with the day to day financial concerns that we all experience.

What they particularly want to do is to suggest easy steps that we all can take to make our money really work for us. 

I clicked on their 10 simple tips – have a look at the link below and yes, they are simple - but they are still utterly essential in order to look after your assets.

http://www.financialplanningweek.org.uk/

In brief, they are:

1. Identify your goals
2. Know what you are worth
3. Budgeting
4. Debts
5. Stash some cash
6. Save!
7. Get yourself protected
8. Retirement plans
9. Investing – not just for the rich
10. Spread the word

These are all logical steps but often we just don’t concentrate on actually getting the answers to these all important questions, nor do we take steps to ensure our financial independence in time.  ‘Tomorrow is another day’ often seems to be the feeling, and yet these are matters that should be addressed as early as possible in order to give yourself time to plan and also for investments to mature. 

Here at the Overseas Guides Company we have a guide to moving pension overseas and I have also sourced a financial specialist who is dedicated to assisting our readers with all aspects of financial planning, in all countries. I would be very happy to put you in touch with a professional company that other guide readers have used and highly recommended.  Please call me on 0207 898 0549 if you would like to chat about this or fill in the brief form below and I will call to discuss this further

http://www.FranceBuyingGuide.com/resources.htm

A heart warming tale - Janet’s story…

I had a lovely email from Janet the other day.  She told me her story of buying in France and mentioned that something I said in a couple of recent newsletters helped her experience “something of an epiphany” such that she changed her mind about moving within the UK  and decided to up sticks and move to France!  Her much loved husband had recently died and so it was time to change tack.  She had learnt French at school and had friends who had bought in France.  On one of her solo visits to see her friends she had what she describes as a “light bulb” moment when she drove past an empty house which was for rental.  This would give her some much needed time and space to work out what she REALLY wanted to do with her life so she went for it.

Fear of the unknown sometimes gets in the way of our plans but Janet went for the relatively unknown option, feeling that she was meant to be in France and having rented the house for a summer, another “light bulb” moment came to her when a property came up for sale in the same village.  Bless her, she said that when she read my August newsletter she felt that my closing section was directly aimed at her!  You will perhaps remember I wrote about following your dream…

So Janet bought the house and although it needs some work doing to it, she is excited about embarking on a new project and thanked me effusively for the hints and tips she has found at Overseas Guides.

I loved this story and am so grateful to Janet for sharing it with me.  It really does make my job so worthwhile to hear such wonderful feedback. 

If you have a tale to tell, please share it with me.  Also any little hints and tips you may have if you have already bought in France or are in the process of so doing are always welcome.  You know we have a France Forum too where you can add your piece:

http://www.FBG-Forum.com
 
I hope this newsletter finds you well and happy – I look forward so much to hearing some more stories and if you have any suggestions for future articles, just let me know, that is what I am here for!

Until next time, be well, take care and Vive La France!

Kind regards till next time,

Alexis
France Buying Guide
The Overseas Guides Company Ltd
0207 898 0549 (call me!)
mailto:Alexis@overseasguidescompany.com