Opening a Bank Account and Obtaining a Loan in France for Russian Citizens

Often, Russian-speaking buyers have real income, but if it is unofficial and not supported by documents, the bank will not consider your application.

A bank employee follows specific schemes and internal guidelines that your profile must fit. The bank may ask not only about the nature of your income, but also about how you accumulated your capital.

Clients often ask what income level must be shown to the bank. The main criterion of French banks is as follows: your monthly loan repayments (which depend on the loan term) must not exceed one third of your monthly income.

Moreover, not all types of non-resident income are taken into account by French banks at 100%.

French banks primarily favor official salaried income. They are more cautious with business owners. It is important for them to understand how long the company has existed (at least 3–5 years) and how profitable the business is (based on financial statements).

If you are not employed but have official income, for example from renting residential or commercial property, obtaining a loan from a standard French bank will be more difficult, as this type of income is considered unstable by the bank.

With such clients, whose number is growing, we work only with partner banks that are accustomed to this type of application.

As a non-resident purchasing property in France, you can generally expect a loan of up to 50% of the property value. The remaining 50% must be financed from your own funds. Moreover, when submitting the application to the bank, you must show that you have the required amount available in your bank account.

Documents required for a loan

Attention: all documents must be translated into French. Most banks accept translations only from certified French translators.

Opening a bank account in a French bank generally requires that you have an address in France.

If you purchase property without using a loan, you do not need a bank account for the transaction: all payments are made through the notary’s account.

A bank account in France is mainly needed for the subsequent use of the property (automatic payment of utilities, etc.). If you use mortgage financing, the same bank will open an account in your name.