Open

Coming up

Don't miss

Replay


LATEST SHOWS

AFRICA NEWS

Search of Air Algerie crash site continues

Read more

MEDIAWATCH

Sarkozy, Hollande and the scooter wars

Read more

MEDIAWATCH

Confusion online over Air Algérie flight

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - July 25th, 2014

Read more

REPORTERS

Halal tourism on the rise

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

FRANCE IN FOCUS

WWI Centenary: the battle for Verdun

Read more

THE BUSINESS INTERVIEW

When big companies want to do good

Read more

  • In pictures: Debris and devastation at Air Algérie Flight AH5017 crash scene

    Read more

  • Kerry heads to Paris for new round of Gaza peace talks

    Read more

  • ‘No survivors’ from Algerian plane crash, says Hollande

    Read more

  • Paris bans new Gaza protest scheduled for Saturday

    Read more

  • Tour de France fans bring the ambience to the Pyrenees

    Read more

  • French families grieve for Algerian plane crash victims

    Read more

  • Protest against Gaza offensive turns deadly in West Bank

    Read more

  • Halal tourism on the rise

    Read more

  • LA Times wipes France off the map in air crash infographic

    Read more

  • Lithuania’s Navardauskas wins 19th stage of Tour de France

    Read more

  • French lawyer files complaint against Israel at ICC

    Read more

  • Ukraine names acting PM after Yatseniuk's shock resignation

    Read more

  • BNP to pay $80 million for defrauding Dept of Agriculture

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Pope meets Christian woman sentenced to death in Sudan

    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)