From France: France Launches a New Visa for Talents to Become French Residents
Delphine Bariani & Etienne Pujol - STC Partners, a Member Firm of Andersen Global
French President Macron announced on June 15, 2017 that the French Tech Visa is officially launched. It consists, in a simplified and accelerated procedure for foreign talents, to become French residents for a four-year period, providing them with priority treatment. There are three categories of persons and entities targeted by this new visa.
First, international startup founders selected by French business incubators may be eligible if they have:
- financial resources at least equal to the French annual minimum wage, i.e. €17,763.20, as of January 1, 2017,
- an economically innovative startup project that they plan to develop in France,
- approval by a French public organization called the Direccte.
Second, the French Tech Visa also calls for international talents willing to join a French startup that is expanding its activity overseas. Employees must have:
- a graduate degree (master's degree or higher),
- a work contract with a minimum duration of three months with a French company eligible to recruit via the French Tech Visa,
- a gross annual salary of at least €35,526.40 (i.e. twice the French minimum wage as of January 1, 2017).
Last, venture capitalists and business angels investing in startups are targeted by this new visa. Among the requirements are that they must:
- be investing at least €300,000 in fixed tangible or intangible assets,
- be investing either directly or via a company in which they have at least a 30% shareholding,
- own at least 10% of the company in which they are investing,
- be creating or protecting (or committing to create or protect) jobs within the four years following the investment.
Foreign investors being recruited by a venture capital firm based in France may also apply to the French Tech Visa but are not subject to the abovementioned criteria.