Almost everyone has noticed that their money isn’t going as far as it used to, what with prices rising and inflation at a 40-year high.

The current cost of living crisis is affecting everyone, no matter how wealthy you are or what your financial situation is. While the wealthy are able to weather the storm better than those on low incomes, they still face significant financial burdens and a reduction in living standards due to rising prices.

Many high-net-worth individuals are seeing their investment portfolios and assets decreasing in value as their bills rise, meaning they face an uncertain future.

Maintaining your current standard of living might be tough if you can’t increase your income, but there are ways to overcome the challenges and maintain the high standard of luxury that you expect.

One solution is to move to a country with a lower cost of living and better financial regulations for high-net-worth individuals.

A great option to consider is France, which offers incredible scenery and culture as well as lower taxes for many wealthy individuals.

If you’re looking to safeguard your family’s nest egg from the rising costs of living and enjoy all the benefits a life in France has to offer, then keep reading to find out more.

We’ll explore how you can keep your money safe in France and overcome the cost of living crisis without sacrificing the treats you love.

Taxes Are Lower In France

The French tax system is notoriously better for employees and high-net-worth individuals in France than it is in the UK, as the thresholds and percentages are lower. However, taxation is different for ex-pats than French residents, so you need to make sure that you understand the rules and how much you have to pay.

To ensure that you’re always making the best financial decisions, you need to look for a tax advisory firm that has experience working with wealthy individuals in France. Firms like Kentingtons specialise in tax and financial advice for high-net-worth individuals living in France. As such, their team understands the country’s financial landscape and can offer you expert advice that’s tailored to your needs.

Property Is Cheaper

Generally speaking, homebuyers get better value for their money when buying a home in France than they do in the UK. You can buy cheap older homes and renovate them or choose a slightly more expensive modern or redeveloped property. There are a wide range of styles and types of property on offer throughout France. Whether you want a cosy serviced apartment or a decedent period Chateaux, you’ll be able to find a gorgeous home that suits your tastes.

When you’re looking to purchase a luxury home in France, think about how much work you’re willing to put in so that the property is inhabitable and suits your tastes. If your new potential new home needs a lot of work doing to it, then you need to factor this into your budget and timescale for your move. Properties that are ready to move into are usually slightly more expensive, but they will cost less in the long run. Also, prices aren’t as high in most of France as they are in the UK, even for properties that are newly renovated. As a result, you will still be getting great value for your money if you choose to buy a new home in France.

The Country’s Central Location Means It’s Easier To Travel

As a European country that’s attached to the mainland and also has an extensive coastline, France is perfect for anyone who loves to travel. The country itself boasts both Alpine mountain ranges and Mediterranean-style beaches, and some regions of France almost feel like completely different countries. Therefore, you won’t have to go far to find something new and exciting to explore.

If you do want to travel further afield, then France boasts many links with other European countries, such as Switzerland, Span, Italy, Belgium and Germany. There are train and driving links to these countries, so you can easily see the best that mainland Europe has to offer. France’s railways are nationalised, so their charges are lower than those in the UK, and you can travel further and in great comfort for a lower fee. Many mainland European countries have nationalised railways with set ticket prices and also low-cost airline options, so you can find a fun and enjoyable way to see more of this diverse and stunning continent.

Membership To The EU Means Free Movement

The UK famously left the European Union. As part of this deal, the UK no longer enjoys free movement for goods or people in the region. There are many long delays for imports and exports from the country, as it has to deal with more paperwork, which can raise the prices for many items. France, on the other hand, remains in the EU, so its citizens can freely roam other member states and don’t have to pay high fees to import or export goods to and from the country.

If you’re a business leader, then this can be particularly valuable, as you can reduce your import and export costs by relocating your company to France. For high-net-worth individuals who enjoy online shopping, you’ll have easier access to cheaper items and won’t have to wait as long due to delays in shipping items following Brexit as residents of the UK have to. Whatever your needs, you’ll find it easier and more cost-effective to buy items from overseas when you’re living in France, especially if you choose to become a French citizen.

You’ll Be In Good Company

France has long been known as a haven for the ultra-wealthy, but its status has been growing over recent years. Today, France has the fifth most high-net-worth individuals in the world, and that number has grown 22% since 2015. As such, it’s clear that France remains a popular destination for wealthy individuals, mostly because of the low taxes and amazingly luxurious properties available.

So, if you choose to move to France, you’ll be surrounded by other high-net-worth individuals and have access to support and networking opportunities. Many luxury brands have been launched in France or have a base in the country, including Chanel, Dior, Yves Saint Laurent and many more. As such, you’ll always be able to get access to the trappings of a luxury lifestyle in France. If you run a business or investment portfolio, then you could potentially meet some valuable contacts if you relocate to this popular country for influential high-net-worth individuals.

France Has An Amazing Standard Of Living

France is a stunning country with amazing landscapes, stunning beaches and great services. Whether you love the beach, the city or the countryside, there’s an area of France to suit you. The country has a wide range of different traditional cuisines and a lot of homemade produce. So, even if you won’t save much money by moving to France from the UK or another part of the world, you’ll still get great value and enjoy many unforgettable experiences.

If you’re on the fence about moving to France, then this article should help you to understand the benefits of relocating to this beautiful country and immersing yourself in its fantastic culture. Not only will you and your loved ones enjoy an extraordinary experience, but you might also be able to keep your wealth safe from the current crisis that’s gripping the world. At the very least, you’ll be able to get great value from your investments and enjoy a fantastic quality of life during your time in France.