Yes, subject to exceptions, it is legal to open a bank account abroad. However, you will have to declare it every year to the French tax authorities (administration fiscale).
The form to use is form 3916/3916-bis.
If the account generates income, a 2047 return must in principle be filed.
Please note that the tax authorities automatically receive information from foreign banks.
This is the French tax authorities’ myPOS system.
1) General obligations and scope of the “declaration of accounts held abroad” Persons domiciled in France must declare accounts “opened, held, used...
It is perfectly legal to open accounts abroad, in particular through online applications such as Revolut, N26, eToro, Wise or Degiro. However, they...
Most financial institutions (traditional banks, online banks, life insurance companies, trading platforms, savings institutions, private pension...
Opening an account abroad is entirely legal. What is far less so is failing to declare it to the French tax authorities (administration fiscale) if...
As a result of the automatic exchange of banking information, the tax authorities have access to certain information about foreign bank accounts....
It is very simple: there is an international agreement that requires foreign banks to send the French tax authorities, every year, banking...
Obligations, Returns, Regularisation, Risks and Penalties The obligation to declare foreign accounts has existed for a long time. Income from...
The publication of the Circular of 21 June 2013 marked the start of the fight against tax fraud, an effort that continues to intensify. At present,...
Have you received a letter from the tax authorities concerning bank accounts located in Portugal? If you hold one or more undeclared foreign...
The return must be filed every year at the same time as the income tax return. It is made on form 3916-3916-bis (on plain paper for years...
1. Purpose and general rationale of the inbound expatriate regime The “inbound expatriates” (impatriés) regime under Article 155 B of the French General Tax Code (Code...
With the publication in December 2023 of a report on crypto‑assets, the French Court of Audit (Cour des comptes) is sounding the alarm ⚠️: the rapid growth of the...
The taxation of cryptocurrencies is changing profoundly, and individuals who hold or trade digital assets need to understand that anonymity is gradually disappearing....
2025–2027 Guide – Understanding the risks and anticipating the arrival of the new European rules Introduction: the end of crypto opacity is approaching For a long time,...
1) General obligations and scope of the “declaration of accounts held abroad” Persons domiciled in France must declare accounts “opened, held, used or closed” abroad;...
The exceptional contribution on high incomes (contribution exceptionnelle sur les hauts revenus, CEHR) is an additional contribution to income tax, assessed on the...
Overview and purpose The differential contribution on high incomes (contribution différentielle sur les hauts revenus, CDHR) aims to ensure, in respect of 2025 income,...
Quick summary: RSUs give rise to an acquisition gain and a capital gain on sale, with specific tax rules in France. French tax residents are subject to different tax...
1) RSUs = free share awards In practice, "RSUs" correspond under French law to "free share awards" (attributions gratuites d'actions) 2) Free share awards (RSUs) 2.1...
It is perfectly legal to open accounts abroad, in particular through online applications such as Revolut, N26, eToro, Wise or Degiro. However, they must be declared...
Most financial institutions (traditional banks, online banks, life insurance companies, trading platforms, savings institutions, private pension providers, etc.) in...
Contrary to what one might think, French taxation is full of very favourable tax gems. The impatriation regime means a 30% or even 50% tax exemption! This regime is...
Do you own real estate abroad (apartment, house, company similar to a French SCI (société civile immobilière), etc.)? The rents must also be declared in France! This is...
I Have Rental Properties Abroad The taxation of foreign rental income (revenus fonciers) in France is governed by form 2047. This form is used by French taxpayers who...
Taxation of Foreign Rental Income: Form 2047 The taxation of foreign rental income (revenus fonciers) in France is governed by form 2047. This form is used by French...
Selling real estate located abroad can be a complex step from a tax perspective for French residents. French tax regulations on such transactions have been put in place...
Are you an employee (company officers are in principle excluded, unless they have a separate employment contract for technical duties performed abroad) ? Do...
The European Union is preparing the nuclear tax bomb on crypto: DAC 8. According to some estimates, the tax shortfall on crypto amounts to hundreds of millions, or even...
When you are a tax resident of France, tax is payable on all income regardless of where in the world it comes from (with a few exceptions arising from international tax...
The income tax scale in France determines the percentage of your income that you will have to pay in tax. It is important to understand how this scale works in order to...
The world is increasingly interconnected, and it is not uncommon for individuals to have economic and tax ties with several countries. In these situations, the question...
0 Comments