France wants to attract foreign entrepreneurs and startups.
Foreign entrepreneurs granted the new French Entrepreneur visa (also called French Tech Ticket) will be provided with a grant of12,500Euros which will be exempted of income tax and social taxation (CSG-CRDS) – as agreed by the French Parliament in the amendment of a law on international investment.
The French Gov and the city of Paris launched the French Tech Ticket visa this year to promote its startup eco-system worldwide. This financial incentive aims to attract and support foreign entrepreneurs starting innovative companies in France.
The French Tech Ticket acts as a comprehensive “Welcome Pack” for foreign entrepreneurs. Successful applicants will benefit from a fast track visa process to obtain a work visa and receive – on top of a grant of 12,500Euros per founder (maximum 3 people) – an office space in a partner startup incubator, support on settling down and discounts on Air France flights.
The grant of 12.500Euros is renewable after 6 months if the project shows traction. Next year, the French Tech Ticket should be extended to the whole country incubators. For now, the French Tech Ticket works only with foreign entrepreneurs wanting to relocate in Paris.
Making Economic Sense
This measure to exempt the grant of taxes comes as natural as the 12,500Euros are granted by the French Government through the BPI. Indeed, a taxation on a government subsidy would not make much sense.
The successful applicants to the French Tech Ticket will be announced next January. In total, 722 startup business proposals were submitted last September by 1,372 entrepreneurial candidats. Only 50 of them will be granted the visa.
Interested in Startup Visa Schemes? Download Migreat Report on Startup Visas programmes or read our latest blog post on the countries accepting entrepreneurs in 2015.