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Expatriate, take out a life of Asura!

Life insurance can be a great way tax optimization in succession in the case of Expatriation .

recipients life insurance contracts are not subject to tax in France from 20% estate tax (normally due in France during the denouement of the life insurance policy on death beyond 152,500 euros) if the day of the accession, the subscriber is non-resident under French tax law.

Excerpt from the General Tax Code:
"When they are outside the scope of Article 757 B, sums, annuities or any values caused directly or indirectly through one or more bodies insurance and similar, for death of the insured, are subject to a levy 20% up to the share of each beneficiary of these funds, annuities or securities equal to the fraction of callable contracts and premiums paid for the fraction of non-callable contracts other than those mentioned in 1 of I of Section 199 f and those mentioned in Articles 154 bis, 885 J and 1 of section 998 and entered into as part of a business, less an allowance of € 152 500.

The recipient must file with insurance agencies and related a sworn statement indicating the amount of reductions already applied to the amounts, annuities or any values received from one or several insurance agencies and similar for death of the insured. "(These provisions apply to contracts entered into on or after October 13, 1998 and ongoing contracts for bonuses paid after that date.)

plus a precision of Education's fiscal December 30 1999, 7 K-1-00 No. 16 ...

"This 20% levy applies to money, securities or annuities due under contracts where the policyholder or participant in the case of a group contract is an individual having his domicile in France within the meaning of Section 4 B of the Code. "
This rule applies whether the contract be governed by French law or foreign law. In determining whether a contract falls within the provisions of Article 990 I of the Tax Code, it is necessary to place the date subscription or membership contract, whatever changes occur later in the domicile of the subscriber or member.


In conclusion, it is very advantageous for an expatriate to take, as non-resident, a life insurance contract in France to qualify for this exemption.

Thus, if the day of accession to the contract, you are not French tax residents within the meaning of article 4 B of the Tax Code and you are under 70 years, the levy of 20 % will not have to apply. Your heirs will pay no tax on capital levied!

Thus, two situations may occur denouement

• you subscribe as a non French resident and you come back in France (and you pour a very large sum): EXEMPTION OF CONTRACT for your beneficiaries French ;


• You subscribe as a non French resident and you do not come back in France (and you pour a very large sum): EXEMPTION OF CONTRACT in France for your French beneficiaries.
  

Enjoy, even there putting a minimal amount, just to take time as a non-resident!
note, many institutions do not allow subscription by non-residents through their administrative constraints (management of tax forms ...).

Afer Visit our partner for the purchase of a life insurance policy as a non resident