Open

Coming up

Don't miss

Replay


LATEST SHOWS

IN THE PAPERS

Cuba-USA: 'A roll of the dice'

Read more

IN THE PAPERS

The 'Caribbean Wall' is starting to crumble

Read more

MEDIAWATCH

"Todos somos Americanos"

Read more

WEB NEWS

Sydney siege: Australians show solidarity with Muslims

Read more

ENCORE!

"Charlie's Country" director Rolf de Heer on the contemporary Aboriginal condition

Read more

FOCUS

Hunt for Joseph Kony and LRA militants continues

Read more

THE INTERVIEW

‘China needs Tibetan culture of peace,’ says Dalai Lama

Read more

FACE-OFF

Immigration in France: Hollande slams scaremongers

Read more

ENCORE!

'Charlie's Country' director Rolf de Heer on the contemporary Aboriginal condition

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)