Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Opposition protests in DR Congo: At least one person killed in Goma clashes

Read more

THE DEBATE

Obama in Japan: Competing world visions at G7 summit (part 2)

Read more

THE DEBATE

Obama in Japan: Will his final G7 mark end of an era? (part 1)

Read more

ACROSS AFRICA

Biafran separatists allege brutal crackdown

Read more

MEDIAWATCH

Chinese washing detergent ad "whitens" a black man

Read more

INSIDE THE AMERICAS

Baltimore residents react to latest verdict in Freddie Gray case

Read more

ENCORE!

Paris photography festival shines a spotlight on young, emerging talents

Read more

PEOPLE & PROFIT

Are company bosses paid too much?

Read more

FOCUS

Spain: Employees denounce their working conditions in Catalonia's abattoirs

Read more

France

Residency permits offered to lure foreign investors

Video by Yuka ROYER

Text by NEWS WIRES

Latest update : 2009-09-16

Breaking with habitually restrictive immigration laws, the French government has announced that it will award residency permits to foreign entrepreneurs and investors in a move intended to attract foreign investment on French soil.

AFP- The French government said Monday it will award residency permits to foreign entrepreneurs and investors to reward them for creating jobs and investing in the country.

  

Under the terms of a decree to be published Tuesday, anyone who creates or saves 50 jobs, or pledges to invest at least 10 million euros (15 million dollars) in the country, will be entitled to a 10-year resident's permit.

  

The measure would apply to individual investors or shareholders with a 30-percent or higher stake in a business found to have made "an exceptional economic contribution," said a statement from the immigration ministry.

  

Around 1,000 people are expected eventually to benefit from the scheme, with an initial 200 resident cards to be handed out in 2010.

  

President Nicolas Sarkozy has tightened French immigration laws since his election in 2007, setting quotas for the deportation of undocumented migrants and favouring skilled foreigners seen as benefiting the economy.

Date created : 2009-09-15

COMMENT(S)