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The French Tech Visa Program - What Does It Imply?

Written by: Bridgewest

The-French-Tech-Visa-Program-what-does-it-implyFrance is one of the most prolific economies in the European Union, and as all developed economies it need qualified personnel who can add value to the work carried out in companies operating across the country. After launching the largest tech startup incubator in the world at the end of June, now the government announced the French Tech Visa program meant to attract foreign talents who work in the research and development industry. Our lawyers in France can offer information on how to obtain a work permit.

What is the main goal of the French Tech Visa scheme?

France has been launching all types of programs for attracting young and talented investors and workers for three years now. The last program announced by the government is the Tech Visa program which will cater to the needs of business incubators and accelerators, but also to the requirements of investors and startup companies in France.

Also called the “Talent Passport”, the new program is a fast-track application procedure for those seeking to obtain a French residence permit. The new program targets:

  • -          foreign talented IT specialists who can be founders of startup companies or employees;
  • -          foreign investors;
  • -          foreign workers who studied and who were mentored in France.

In the case of employees, these can be proposed by their French employers for the Talent Passport program.

What are the eligibility criteria for the applicants of the Tech Visa program?

As mentioned above, the Talent Passport scheme acknowledges 3 types of applicants; therefore, the eligibility requirements will be different for each category.

Those setting up companies in France can enroll in the French Tech Visa program for founders which implies:

  • -          registering a new company in France and joining one of the many business incubators in the country;
  • -          the project must be related to the research and development sector and approval from the Direccte must be obtained;
  • -          the minimum amount to be invested must equal the annual minimum wage in France.

In the case of investors, these have three options:

  • -          to open a venture capital company;
  • -          to invest as business angels;
  • -          to be recruited as an investor by a French venture capital company.

In the case of employees, these must be recruited by one of the 70 French companies agreed under the program.

For assistance in opening a startup business here, please contact our law firm in France. We can also offer additional information on the French Tech Visa program.

 

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