France Brings in New Business and Student Visa Regime

France Brings in New Business and Student Visa Regime 

France Brings in New Business and Student Visa Regime

In a desperate bid to uplift the brand image and ailing economy of France, F...rench President, Mr.François Hollande, proposed a new visa regime for the foreign investors and students.

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A country which is gripping with the economic slowdown, mass unemployment figure of 3.26 million and a burgeoning youth unemployment which is at 26.5 percent, the new visa regime is expected to alleviate the biggest crisis.

The new measures that have been proposed by Mr.Hollande include provision of Talent Passport, Multi-Year student visas and financial support for startups in France through the French Tech Ticket program.

Speaking to the business leaders of foreign companies in France, in the Strategic Attractiveness Council meeting, Mr.Hollande said, “Everything must be done to quickly and efficiently welcome foreign investments.

We do not have a narrow conception of our national interests. We even consider the mobility of investment from France to foreign countries and vice versa as a factor in the success of the country.”

A Talent Passport system which is expected to be launched by early 2015 is a four year renewable visa opened for corporate officers, investors, qualified young graduates, researchers, scientists, artist and sports players.

In order to support the foreign students, France has also introduced a multi-year visa that would last for a duration corresponding their length of study. It also includes support for grants and simplified access to residency permits.

The major problem France riddled with is high taxes and red tape. For this reason, global business houses are not genuinely interested in setting their offices in this country. Speaking to the Council, Mr.Hollande has assured that there will be guaranteed tax rates, which will be static over time and companies can approach the government to confirm the standards and tax structures as per their investment plan.

In order to boost the economy, France will take optimum measures which include support for startups and provide selected projects a handsome incentive of €25,000, creation of one stop shop for all the necessary paperwork, provide logistic support, availability of public funding to foreign companies and creation of a single agency to promote France internationally under the name France International.


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