France and the US have formalised a special mutual agreement akin to the French ‘talent passport’ that will allow investors from each nation easier access to visas and residency permits.
In the past, people from America wishing to live and work in France had to jump through several burning administrative hoops and complete mountains of paperwork.
French citizens had it no better in the US, where difficulties in obtaining a visa to live and work are widespread, whatever your nationality.
Now, with the swipe of a pen, those days are over for a select group of citizens wishing to make investments on the other side of the pond.
NEW AGREEMENT
On 21st November in Paris, Olivier Becht, the French Minister Delegate for Foreign Trade, and Denise Campbell Bauer, the US Ambassador to France and Monaco, formalised a new agreement that will transform the pathways to obtaining visas and residency permits for French and American investors.
The new systems, according to a joint statement issued by the two parties, allow American investors and their families to fast-track applications for the four-year French visa, mirroring France’s ‘talent passport’ scheme, while French investors can benefit from four-year E-1 or E-2 visas, up from a cap of only 25 months previously.
IN THE MAKING
The agreement is the result of negotiations that stemmed from the December 2022 visit to the US by French President Emmanuel Macron. At the time, both nations vowed to deepen their bilateral trade and investment connections.
Minister Becht took to social media after the signing, saying, “It’s done, FR-US! French entrepreneurs in #EtatsUnis will be able to benefit from a longer visa and American entrepreneurs in #France from a simplified procedure.”
The new rules have been in effect since 16th November 2023.
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Photo source: Olivier Becht / LinkedIn