Looking for the best Best Assurance Vie – France 2024? Are you a French tax-resident considering taking out an Assurance Vie but you’re unsure which one is right for you? With such a wide range of options available it can be challenging to make an informed decision. In the article below we’ll dive into the world of Assurance Vie products on the market, discovering the best options available and how to grow your savings in a lucrative and tax-efficient manner, and tailored to your specific financial goals.

What is an Assurance Vie?

An Assurance Vie is simply a tax-efficient wrapper for underlying assets in the form of a life insurance bond – one that allows you to tailor your investments to your situation and is primarily geared towards long-term investors (5 – 10 years or more). It is comparable to the UK ISA, but French-compliant and fully accessible for non-UK residents – and as such draws a large number of expat investors living in France.

It’s no wonder Assurance Vie products are so popular – amidst geopolitical shifts and market volatility, they offer savers and investors a haven for capital growth. These sophisticated investment solutions provide a diverse array of options and benefits, including funds that benefit from gross roll-up, streamlined administration, and substantial tax advantages (such as a reduction in income tax on gains from 12.5% to 7.5% after an 8-year holding period).

Among all the Assurance Vie options, all of which have their pros and cons, the fundamental question remains: which one is the best for you?

So, which Assurance Vie should I buy?

I think the more important question here is – what is most important to you as an investor? Is it having a policy that’s portable so you can still have access if plans suddenly change? Or is it unlimited protection of funds? Or maybe it’s an easy-to-use digital app that gives you freedom to see your funds anytime and anywhere?

If it’s any of the above we can almost automatically rule out the majority of French Assurance Vie products. French banks use a commission-based approach that means high fees (and raises the issue of whether the products being recommended to you are done so impartially) as well as a range of other issues that could include:

• Your investments are limited to the funds offered by the bank which limits your freedom of choice and stifles opportunity
• no protection for funds over 100k 
• a difficult ongoing management process. 
• None of the paperwork is available in English
• Not portable – so if plans change and you need to move back home then you may find yourself unable to access or manage your funds

If not a French Assurance Vie, then which one should I choose? 

An alternative would be the Utmost Apex Life. Regulated and protected by the Central Bank of Ireland – it is a leading choice for discerning investors that goes above and beyond the usual benefits of an Assurance Vie. In addition to tax-efficiency, capital growth, and inheritance tax advantages, it empowers investors with a suite of additional perks that include:

• Multiple investment options that provides flexibility for investors and access to a range of assets that cater for different risk appetites and financial goals. For example, the choice to have the Policy set up with the maximum number of Policy Segments available (up to 9,999) for added versatility and future tax planning on relocation to the UK
• Choice of currency (USD, GBP and EUR) to offset risks of currency volatility
• No restrictions on withdrawals
• Available on a first or last death basis
• Fully portable if the investor wishes to relocate back to the UK in the future, and compatible with most trust arrangements
• Seamless and easy administration
• Paperwork in English and French

Whilst a French bank assurance vie may seem more easier at first glance, in the grand scheme of things you want something that is versatile and maximizes all the benefits on offer so you can deal with any unpredictable eventualities of life that may come your way.

How can we help?

Here at Harrison Brook we specialise in advising those who live and work outside the UK with pension access and investment solutions. 

Our clients enjoy low fees with no hidden charges and access to an experienced team that is experienced in navigating the complexities of expat finance. We are fee-based rather than commission-based, and are not remunerated in any way by selling or recommending products. 

Instead, we take pride in offering our clients impartial and honest advice that serves their needs best and puts them first. You can find out more about us here. 

If you have been looking into opening an Assurance Vie, or indeed if you have any questions with any of the above, please feel free to get in touch.