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France is willing to create a new generation of world-leading companies in order to boost innovation and create more jobs in the French economy, and in order to achieve this has constructed a pioneering growth plan, called French Tech. Here at Santa Fe Relocation, we are taking a look into what French Tech is, and how aspiring entrepreneurs can qualify for the French Tech Visa.
What Is The French Tech Visa?
As described on the site, the French Tech Visa is “a simplified, fast-track procedure for three types of international tech talent to obtain a residence permit known as the ‘Passeport Talent’ (“Talent Passport”)”. The visa itself is open to three categories of tech talent, including start-up founders, employees and investors. The visa allows them to lawfully live and work in France.
Even though the French Tech Visa is open to three categories, it is only valid for four years on a renewable basis, but can be extended to immediate family members. This means that spouses can also receive residence permits authorising them to live and work in the country. In a similar way, dependent children are also authorised to live in France. Moreover, with the French Tech Visa, no additional work permit is required, meaning that once the individual has obtained their French Tech Visa, they can immediately start to work in France. They will upon arrival need to obtain a residence card at their local prefecture, which will finalize the process.
How To Qualify
Qualifying for the French Tech Visa is divided into three procedures mimicking the three types of international tech talents, which are:
Founders. In order to be eligible for the French Tech Visa as a start-up founder, individuals must have the required financial resources that are no less than equal to the French annual minimum wage. Further to this, as well as having an innovative start-up project, individuals must obtain certificate from by Direccte prior to their visa application.
Employees. Unlike to be eligible for the French Tech Visa as a start-up founder, in order to be eligible for the French Tech Visa as an employee, individuals must have a master’s degree (or higher). Alongside a graduate degree, those hoping to be eligible for the French Tech Visa as an employee are required to obtain a 3-month work contract with a company eligible to recruit under this category, and earn twice the minimum legal salary.
Investors. There are a number of ways investors can qualify for the French Tech Visa, but in order to qualify for a Talent Passport marked ‘Business Investor’, individuals must be prepared to invest at least €300,000 in either fixed tangible or intangible assets and own at least 10% of the company in which they have chosen to invest.
Why Choose French Tech
Over the past few years, there has been a significantly strong dynamic surrounding France’s 10,000 start-ups. Due to this, venture capital investment has more than doubled between 2014 and 2015, and remained elevated in 2016. Further to this, more than half of 18-29 year-olds in France reportedly want to create their own companies, meaning that France is home to one of the fastest growing ecosystems in Europe. With countless business and job opportunities for highly talented tech professionals, there are several reasons why France is the perfect location.
If you are considering relocating abroad, and you would like to discuss how we can help you, please do not hesitate to get in touch with a member of our expert team, today.