Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Candidates Goodluck Jonathan and Mohamudu Buhari call for calm

Read more

MEDIAWATCH

Anger at mental health stigmatisation after crash allegations

Read more

THE WORLD THIS WEEK

Yemen, the Escalation; France's Three Way Race; Clarkson Shown the Exit (part 2)

Read more

THE WORLD THIS WEEK

Germanwings Crash; Co-pilot 'hid illness' on crash day (part 1)

Read more

#THE 51%

The extraordinary tale of the Egyptian mother who lived as a man

Read more

REPORTERS

Video: San Cristobal, Venezuela's tinderbox

Read more

FRANCE IN FOCUS

France's chronic umemployment problem

Read more

FOCUS

Portugal: Anger at corruption scandals, one year after bailout

Read more

YOU ARE HERE

Bistronomy: Stylish and simple eating

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)