Hello fellow French mustachians!
I wanted to get your advice.
Any recommendation for a platform to invest in France?
Looking something for a close friend that is 60 years and not very experienced in financial markets. Something simple that would be also easy to report when filling taxes (for example in Italy there is some option to go with a bank that manage the fiscal side - so no asshole)
Thanks! S
There will be a lot of considerations regarding tax advantages, depending on how long term that is. Also given age life insurance might be a better option (to avoid inheritance tax).
Might be a good idea to ask on a french forum (I think r/vosfinances is the standard one on reddit)
If the French person will be taxed in France based on French revenu a good option is usually the Plan Epargne Action (PEA) on an online broker (Bourse Direct, BforBank, boursorama…). The transaction cost are usually minimal 1,9-2,5% for French and European shares or ETF (mostly synthetic or swapped). Look for a provider that wonn’t charged custody fees.
The broker will provide an Imprimé Fiscal Unique (IFU) every year for the tax declaration anf it will be prefilled with the information exchanged with the French Tax department.
The benefits will be to be taxed on dividend or capital gain only at withdraws after 5 years.
As suggested before an online Life Insurance broker (like MesPlacements, Linxea …) will be more suited for someone of 60 y.o. with no risk tolerance. They charged 0,50-0,70% management fee and will offer low risk/low gain French bonds named Fond Euro or REIT or SCPI or fraction shares. The main benefit remains a no taxation account until withdraws and in a strategy of optimising succession taxes.