Portugal and Greece may be the preferred options for golden visa investors but there are other investment immigration programs that provide a pathway to permanent residence in the European Union. One underrated program is the French Talent Passport Business Investor visa.
A foreign investor can settle in France by investing at least €300,000 in fixed tangible or intangible assets and creating or protecting jobs in France within four years of the investment.
The applicant can invest personally or through a company they control or a company in which they have 30 per cent shareholding or higher.
Eligible assets including share capital investments, reinvestment of earnings or loans between affiliated companies. However, financial investments like bank deposits or bonds are not considered eligible.
Validity
This renewable visa has a maximum validity of four years, with actual duration dependent on the nature and duration of investment in the country.
The investment must be maintained through the validity period of the visa. Renewal will take place only upon submission of proofs of continuation of original investment or proof of a new eligible investment in France.
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The investor can apply for the French resident card after five years of uninterrupted stay in the country. This card has a validity of 10 years and can be renewed.
The applicant’s spouse and dependent children can accompany the investor on the same visa. The family can stay and work in France through the validity of the visa.
Talent Passport Business Investor Program Versus Golden Visas
The French program is not a conventional golden visa program that offers fast-track permanent residence without onerous physical presence requirements. However, the minimum investment requirement is low.
In fact, the French program is cheaper than the €350,000 rehabilitated property option in Portugal or the €500,000 real estate option in a city like Athens under the Greek program.
The visa offers full mobility through the European Union, which makes it a smart choice for a global entrepreneur or professional seeking visa-free access to Europe.
The eligible investments allow the investor to setup his or her own company in France and qualify for permanent residence by doing business in the country.
The job creation requirement and absence of real-estate purchase option means the program won’t be impacted by political turmoil or concerns about housing bubbles.
Further, mandatory physical presence requirements ensure little risk for the program’s cancellation or termination due to international pressure.
Of course, France has a more developed economy compared to other countries in the continent.
It would be apt to compare the French investor program with the US EB-5 visa. Both programs require the investor to create or support jobs in the country, although the French program does not specify the number of jobs to be created or supported.
Both programs require the investor to live in the country to maintain status. And both programs have relatively low investment requirements considering the benefits and advantages of permanent residence.