Passeport « Talent - porteur de projet » : what's new for foreign entrepreneurs wishing to set up in France?

Presentation 

Foreign entrepreneurs wishing to settle in France and meeting certain specific conditions can apply for a “Talent - project holder” residence permit. 

However, this permit is subject to a number of specific conditions, making access to it more restrictive than the “entrepreneur/professional” residence permit described in a previous article. The “Talent - project holder” residence permit does, however, have the advantage of being valid for a renewable period of 4 years.

Context

On January 28, 2024, new legislation introduced the "Talent-project holder" residence permit. This permit combines the categories of "business creator," "innovative project carrier," and "investor" into a single unified option.

It is open to people in one of the three situations below.

• The first category concerns entrepreneurs who : 

  -have obtained a diploma equivalent to a Master's degree, or have at least five years' professional experience at a comparable level 

  -have a real and serious business project

• The second case concerns those who can demonstrate an innovative business project recognized by a public body

• The third case concerns those making a direct economic investment in France 

Eligibility conditions 

Only individuals engaged in commercial, industrial, or artisanal activities are eligible for this residence permit. It is not available to those practicing a liberal profession.

Business creation

Conditions : 

• You have a real and serious project to set up a business in France

• The business can be commercial, artisanal or industrial (you can find details of how to define these activities in our previous article)

• You must invest at least 30 000 euros in the project

• You must hold a degree at least equivalent to a Master's or have 5 years' professional experience at a comparable level.

What deadlines must be met?

Please note: As soon as this visa is issued, and within two months of your arrival in France, you will need to apply for a 4-year multi-annual residence permit.

What supporting documents are required?

 You will need to enclose : 

• Documents relating to your personal situation

• Documents justifying the real and serious nature of your project 

• One or more documents indicating the amount of your personal investment
  

Innovative economic project recognized by a public body (French Tech Visa for Founders) 

General conditions :

You have an innovative business project that you would like to develop in France. 

The innovative nature of the project must first be recognized by a French public body.

What is an innovative project? 

An innovative project is one that aims to bring to market a new or substantially improved product (good or service) or process, or a new marketing or organizational method.

Please note: A distinction must be made between projects supported by an incubator and those that are not. 

Non-incubated project leaders must also provide “letters of support from ecosystem players, such as research organizations, laboratories, qualified personalities or companies.”

N.B. : 

• The company may not yet exist as a legal entity, or may already be registered abroad.

• Projects may be carried out by more than one person, provided that each has an executive function (corporate mandate) within the company.

What supporting documents are required?

 You will need to enclose :

• Documents relating to your personal situation 

• The opinion of the public body regarding the innovative nature of your project 

• Documents proving your level of income. Your income must be at least equivalent to the legal minimum wage in France for full-time work.

N.B. : You may also be asked to add documents relating to your incubation and the support you receive.

How to request the opinion of the public body? 

To request an opinion, visit the following website: https://www.demarches-simplifiees.fr/commencer/french-tech-visa-for-founders 

Please note: As soon as this visa is issued, and within two months of your arrival in France, you will need to apply for a 4-year multi-annual residence permit.

 Economic investment 

Depending on whether the investment was made via a company or was a personal investment, the eligibility conditions are different.

For investments made via a company, you are eligible if you meet the following conditions: 

• You are investing via a company that you personally manage, or in which you hold at least 30% of the capital.

• You plan to create or safeguard jobs in France within 4 years of the investment.

• Your investment represents at least 300 000 euros.

For personal investments, you are eligible if you meet the following conditions: 

• You invest in a company in which you hold at least 10% of the capital (acquisition of a lasting interest")

• You plan to create or safeguard jobs in France within 4 years of the investment.

• Your investment represents at least 300 000 euros.

What supporting documents are required?

• Documents relating to your personal situation

• Proof of investment

• Documents enabling you to assess the lasting value of the business 

The family of a "Talent-porteur de projet" permit holder

The spouse and children of a foreign national holding a “Talent - porteur de projet” residence permit may apply for a multi-annual “Passeport-talent famille” residence permit. They will be issued with a card of the same duration as that obtained by the project holder.