French Tech Visa For International Tech Talent: Startup Founders, Employees, and Investors Paris, June 15th, 2017
PRESS RELEASE│ FRENCH TECH VISA FOR INTERNATIONAL TECH TALENT – June 2017
TABLE OF CONTENTS
Introduction……………………………………………………………….3 1. French Tech Visa presentation……….………………………5 2. Procedure for French Tech Visa for founders…………7 3. Procedure for French Tech Visa for employees………9 4. Procedure for French Tech Visa pour investors…..11
INTRODUCTION All over the world, startups’ innovative products and services are revolutionizing the way people work. There is now a global talent race; entrepreneurs want to recruit the most talented individuals no matter where they come from to propell the most successful startups. For talented tech professionals, mobility is an asset, and the attractiveness of a country, like that of the potential employer is essential in guiding their choices about where to work. Aware of these crucial issues and in response to popular demand by entrepreneurs, the French Government has put in place the French Tech Visa to facilitate the arrival and integration of qualified tech talent, whether they be entrepreneurs, employees or investors. The French Tech Visa includes a priority procedure for obtaining a residence permit known as the « Passeport Talent » (« Talent Passport »). This residence permit is valid for 4 years and includes immediate family members (spouses and dependent children).
Why does the French Tech ecosystem need foreign talent? France wants to bring about a new generation of world-leading companies, to boost innovation and create jobs in the French economy. To reach this goal, France needs to attract the best of the best. Furthermore, in a world driven by innovation, where creativity and audacity are changing the rules of the game, diversity - in terms of both culture and career paths - is an asset for the ecosystem. The internationalization of the French startup ecosystem is a cultural and economic necessity for allowing these hyper-growth companies to succeed in their international development. For these reasons the French Government has been carrying out an active public policy, with La French Tech, that leans on the initiatives of entrepreneurs themselves to support the growth of startups and their international expansion.
Why come to France ? There has been a very strong dynamic over the past few years around France’s 10,000 startups. Venture capital investment doubled between 2014 and 2015 and remained elevated in 2016 (increasing from $1B in 2014 to $2B in 2015 and to $2.4B in 2016), 60% of 18-29-year-olds in France report wanting to create their own companies1, and France’s startup ecosystem has grown faster than any other European ecosystem in the past 5 years. Today France has the highest number of VC deals in Europe. Behind the well-known success stories of Criteo, Blablacar, and OVH, there are many hyper-growth-stage French startups around the world: Cellectis, Drivy, Scality, Sigfox, Vestiaire Collective, and Algolia to name a few.
Our country has many business and job opportunites for talented tech professionals.
Come find out for yourselves! Welcome to France!
According to a study by OpinionWay in January 2017
French Tech Visa Presentation To attract and facilitate the arrival of international tech talents in France: startup founders, employees, and investors
First step: A new residence permit was created in 2016, the “Talent Passport”
On March 7th, 2016, the law n° 2016-274 created a new residence permit in France called the “Talent Passport.” This law went into effect on October 28th, 2016. The aim of this residence permit, valid for 4 years on a renewable basis, is to simplify the process for talented, qualified professionals to obtain the right to live and work in France and to encourage the arrival of more of these qualified professionals to France. The Talent Passport is also granted to immediate family members of these professionals. This permit concerns 10 categories, including recent graduates, employees of young innovative companies, highly-qualified workers, employees sent on a missions, company creators, leaders of economically innovative projects, investors, etc.
Specialization with the French Tech Visa for tech profiles The French Tech Visa is a simplified, fast-track procedure to obtain a « Talent Passport » for 3 categories of international tech talent: -
international startup founders,
international employuees of French companies in a hyper-growth stage,
and international investors.
The French Tech Visa is offered to foreign tech talent accompanied or recruited by indentified actors of the French Tech ecosystem: French Tech partner startup incubators, companies selected for their hyper-growth status as part of a program called “Pass French Tech”, or venture capital investment funds.
Why implement the French Tech Visa?
In a context of international competition, easy access to a residence permit is fundamental for attracting international tech talent; it is all the more important since promotional efforts to attract international talent to France over the past 4 years have piqued international interest.
The simplicity, speed, and legibility of administrative procedures for the obtention of a residence permit are important criteria for applicants and for the international reputation of our country.
French entrepreneurs need to recruit the best talent for their teams, no matter where that talent comes from. They are therefore in need of anything that can foster the arrival of foreign tech talents who will become their future employees.
French Tech Visa: 3 profiles, 3 distinct procedures The French Tech Visa is a simplified, fast-track procedure to obtain a « Talent Passport » for 3 categories of international tech talent with 3 disctinct administrative processes: -
startup founders, selected by French Tech partner incubators and accelerators,
future employees recruited by eligible French companies in a hypergrowth stage,
and international investors who move to France.
For each category, there is a specific set of eligibility criteria and a procedure to follow.
1. Procedure for French Tech Visa for Founders To be eligible for a Talent Passport marked “innovative project”, startup founders must have:
an economically innovative startup project that they want to develop in France,
recognition of the project by a French public organization called the Direccte,
and proof of financial ressources equal to the annual minimum wage in France (€17,763.20 as of Januarty 1st , 2017).
The point of entry for the French Tech Visa for Founders is the French Tech partner incubator or accelerator that will incubate the startup. Once one of the 41 partner incubators has accepted a startup applicant, the incubator will send the application to the Direccte for approval for a Talent Passport. The Direccte will issue an official letter attesting to the innovative nature of the startup project, which the candidate will later present when applying for a visa and residence permit at a French Consulate or Prefecture. visa.lafrenchtech.com
Partner incubators/accelerators in Paris and throughout France. The 41 French incubators selected by the French Tech Mission in the spring of 2016 in the frame of the French Tech Ticket program are the initial partner incubators for the French Tech Visa.
In Paris and its suburbs: 50 Partners, 104factory, Bond’Innov, Creative Valley, Genopole, Impulse Partners, iPEPS-ICM, La Paillasse, Le Comptoir de l’innovation, Le Hub Bpifrance, NUMA, Paris Pionnières, Le Tremplin (Paris&Co), Le Cargo (Paris&Co), Welcome City Lab (Paris&Co), SchooLab, SenseCube, Starbust, Startup42, Telecom & Management SudParis Entrepreneurs, Usine IO, X-UP. In other French regions : Ekito, Airbus Bizlab, Connected Camp, La Myne, EM Lyon, Boost in Lyon, Telecom Bretagne Rennes, 1Kubator Bordeaux, Telecom Bretagne Brest, BizMedTech, Savoie Technolac, Le Tarmac, BIC, FFWD Normandie, Eurasanté, Euratech, Plaine Images, Belle de Mai, PACA Est.
Ile de France
2. Procedure for French Tech Visa for Employees
To be eligible for the Talent Passport marked “employee of an innovative company”, startup employees must have:
a graduate degree (master's degree or higher)
a work contract with a minimum duration of 3 months with a French company eligible to recruit via the French Tech Visa (list: visa.lafrenchtech.com)
a gross annual salary of at least €35,526.40 (twice the French minimum wage as of January 1st, 2017)
The point of entry for the French Tech Visa for Employees is the company that will be recruiting the employee. The company will provide the employee with an official document attesting that it is eligible to recruit via the French Tech Visa (list : visa.lafrenchtech.com), which the candidate will later present when applying for a visa and residence permit at a French Consulate or Prefecture.
FRENCH HYPERGROWTH COMPANIES ELIGIBLE TO RECRUIT VIA THE FRENCH TECH VISA (selected as part of the program ‘Pass French Tech’)
3. Procedure French Tech Visa for Investors To be eligible for a Talent Passport marked “Business investor” applicants must:
be investing at least €300,000 in fixed tangible or intangible assets.
be investing either directly or via a company in which they have at least a 30% shareholding.
own at least 10% of the company in which they are investing.
be creating or protecting (or committing to create or protect) jobs within the four years following the investment.
Note: Direct investments include share capital investments, reinvested earnings or "loans between affiliated companies." Exclusively financial investments are therefore outside the scope of the Talent Passport.
Condition for accessing the French Tech Visa :
foreign venture capital firm opens an office in France. OR
A foreign investor is recruited by a venture capital firm based in France. OR
A Business Angel (often a successful entrepreneur) moves to France.
Linnea Bruce [email protected]