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France, as part of the European Union (EU), is involved in a number of trade arrangements with Australia, and in 2015 began discussions with Australia to establish a free-trade agreement between the two countries. Currently, the two countries have a number of reciprocal agreements in place for trade, investments and educational opportunities, and there are no restrictions on the ability to transfer money from France to Australia at this time.
If visiting Australia, French citizens must first apply for Australia’s travel visa, the ETA (Electronic Travel Authority) visa, before entering the country. The ETA is an online application and visa that can be accessed through Australia’s official immigration site, and is applicable for tourism or business stays of up to three months. If planning to work in Australia for longer than three months, French citizens must obtain a Visitor Visa, which allows for stays of up to three, six, or 12 months. A permanent resident visa must be applied for if planning to live permanently in Australia.
Due to Australia’s strict regulations over the purchase of real estate or land for non-citizens, it’s a good idea to find a local real estate expert to advise you before sending money from France to Australia for a property purchase. The Australian government’s regulations often make it difficult for foreigners to purchase property without first getting the approval of the Foreign Investment Review Board (FIRB). It’s important to familiarize yourself with Australia’s real estate guidelines, or to work with a licensed real estate expert who is familiar, as failure to meet these guidelines or to obtain FIRB approval can lead to prosecution. In some extreme cases, it can even be used as a reason to deny an individual entry into Australia.
At this time, purchasing a property that has already been established as used for a primary residence, purchasing a new residential property, or purchasing a single block of vacant residential land does not require FIRB approval.
French citizens living abroad must report any income earned worldwide, and are required to file tax forms with the French government declaring their earnings. They must pay taxes on this income, although they will receive credit via a foreign income tax offset for any taxes paid in Australia, due to the existing tax treaty between Australia and France. This treaty helps citizens of both countries to avoid double taxation.
French citizens and residents are eligible to vote in local municipal elections and European parliamentary elections. French residents living in Australia, however, are not permitted to vote in Australian national elections. Only Australian nationals are allowed to vote in Australian elections. For French citizens who wish to vote remotely in parliamentary elections, they must first register with the local French consulate where they are living before they can vote from abroad.
The Australian elementary and high school system is well regarded, and all government-run public schools are free of charge to Australian residents. There are also a number of international schools available to non-residents. For French citizens who wish to pursue higher education in Australia at the university level, there are a number of educational opportunities, exchanges, and scholarship opportunities between Australian and EU-based schools.
Australia offers foreign students OSHC (Overseas Student Health Cover), a type of health insurance coverage for international students, which can help pay for medical or hospital costs incurred while studying in Australia.
There is currently no reciprocal healthcare agreement between Australia and France. French citizens who plan to visit Australia on a temporary basis for work or travel are strongly advised to take out travel insurance to cover any unexpected medical costs. To take part in Australia’s government-funded healthcare, Medicare, a French citizen must have obtained, or applied for, a permanent Australian resident visa. The Medicare services include the medical consultation fees, and any tests or examinations needed for treating diseases, most surgical procedures, even including many cosmetic procedures. It will also cover the cost for chronic disease management supplies.
However, it is recommended by the Australian government that temporary visitors purchase private medical coverage as an additional supplement and backup, as the Australian Medicare system is not comprehensive and is not designed to cover all medical expenses, such as ambulance fees, routine dental care, or physiotherapy. These types of expenses are not covered under Medicare, and would have to be paid for out-of-pocket.
International trade and investment account for a significant portion of the money transfers from France to Australia. The two countries have a close economic and political relationship, as evidenced by the details outlined in the bilateral Joint Statement of Strategic Partnership, signed by both countries in January 2012. Both are members of the United Nations and work closely together in global organizations such as the G20. Two-way trade between the countries amounted to AUD $6 billion in 2014, making France Australia’s 16th largest merchandise trading partner. In 2014, Australia exported approximately AUD $780 million worth of goods and services to France. Total French investment in Australia in 2014 was valued at nearly AUD $22 billion.
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FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
