New rules that will allow US investors to stay in France for up to four years on so-called talent visas have come into effect.
The change will also make it easier for French investors to move to the US.
The deal, which was reached during President Macron’s state visit to the US in December 2022, was declared to be up and running on X (formerly Twitter) by Delegate Minister for Commerce Olivier Becht.
C'est fait ! Les entrepreneurs français aux pourront bénéficier d'un visa plus long et les entrepreneurs américains en d'une procédure simplifiée.— Olivier Becht (@becht_olivier) November 21, 2023
Heureux d'officialiser cette avancée pour notre relation économique aux côtés de @USAmbFrance, @RolandLescure et @cjweissberg. pic.twitter.com/2cQ7BT3CNk
It effectively extends France’s passeport talent, or talent visa system, which streamlines the residency requirements for people who move to France in order to invest.
Talent visas are granted to people “that are likely to make a significant or lasting contribution – directly or indirectly – to the development of the French economy, as well as its culture, science, sports through their skills and talents.”
Where they previously only lasted for one year, the new deal has increased this to an initial four-year stay. This also applies to close family members.
The changes to the ‘talent’ visas mean that Americans and their families can stay longer without needing to renewing their visa.
French nationals going to the US to invest can also benefit from a reciprocal scheme offering a four-year initial stay.