FRANCE BOOSTS ITS ATTRACTIVENESS
In January 2018, President Emmanuel Macron invited 140 multinationals in Versailles for the Summit of the Attractiveness. Later on, in April 2018 figures were published showing that the number of foreign investments jumped up to 31 % in France during 2017 (According to the 2017 EY barometer).
France, after a difficult decade is succeeding in reducing little by little the gap with its main European competitors. United Kingdom suffers from uncertainty related to Brexit, while Germany remains the first choice for investments but nevertheless sees its growth slowed down by the lack of workforce, as well as Italy suffers from the instability of its new government formation.
France thus has become again a predominant attractive country for business thanks to the difficulties met by its neighbours but also thanks to the first effects of the reforms launched to relieve the tax system and the Labour laws by Macron’s government. However, the country’s major handicap is still its labour cost in comparison to the rest of the European states.
In addition, there is a new proposition in France worthwhile to get information from, as it is preparing a specific residence permit for foreign investors, called “Passport Talent” with the mention “Economic Investor”. This permit could be asked by any foreigner if has led/made a direct economic investment in France’s soil, either personally or through a company that owns at least its 30%. Nevertheless, to do so there are some conditions to comply with, such as create or protect the employment related to the investment in the four following years of the investment, and that it must be equivalent to at least 300,000 € in tangible or intangible assets.
As adminex France we can help you to conduct new and started investments in the country successfully and in a more efficient manner, with a range of services going from accountancy to Human Resources and fiscal services.