Francois Hollande promotes cross-border growth

French President Francois Hollande has revealed new measures aimed at kick-starting the economy by attracting foreign direct investment (FDI) and helping French firms expand abroad.

Speaking in front of a group of 300 entrepreneurs in Paris, President Hollande placed an emphasis on small and expanding businesses, saying the SME sector would play a vital role in getting the French economy back on its feet. Reforms to the capital gains tax were also outlined, with exemptions of up to 85% being made available to business owners who have held a stake in the company for at least eight years, and some smaller rebates for shorter periods.

The French leader announced a new “entrepreneur visa” scheme whereby foreigners seeking to set up an innovative start-up in France could get easier access if they invest a "sufficient amount" of money. He added that the government will be looking to set up new services in some parts of the world - beginning with the US and Asia - to help SMEs export their goods and services abroad.

Fleur Pellerin, junior minister for SMEs, told BFMTV that the package of measures reflected "the way in which we perceive the role that entrepreneurs must play in our society for the success of our country."

The French Public Investment Bank- set up last year to help innovative SMEs - will also play a vital role in the government’s efforts to rejuvenate the small business sector. The package of measures will be integrated into a draft 2014 budget which will be unveiled in September by the government,  aiming for implementation in January 2014.  

TMF Group has offices in France where our dedicated professionals can help expanding businesses move into the country or other jurisdictions. With dedicated accounting, legal and HR and payroll staff positioned across the globe, we can take care of the details, leaving you free to focus on your global ambitions.

 
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