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12° Nicosia,
28 February, 2024
 

France and US ink deal for extended four-year visas

Strengthening ties and encouraging cross-border ventures

Newsroom

In a bid to strengthen economic ties and encourage cross-border business activities, France and the United States have recently inked a groundbreaking agreement allowing French citizens an extended four-year US visa. The agreement, effective on November 16, doubles the previous residence permit duration from 25 to 48 months, providing ample time for individuals and their families planning to relocate to the United States.

This initiative stems from months of negotiations that began in 2022 and is set to benefit not only French citizens but also American investors in France. France’s Minister for Foreign Trade, Economic Attractiveness, and French Nationals Abroad, Olivier Becht, expressed enthusiasm about the deal, noting that American entrepreneurs in France will also enjoy a simplified procedure.

The extended visa primarily targets individuals seeking to establish businesses or make investments, aligning with the French talent passport. To be eligible for the four-year US visa, French applicants must engage in substantial trade, including services or technology, between the two countries. Additionally, they must play a significant role in developing and directing the enterprise, holding an executive or supervisory position, or providing essential skills for its operations.

It's a move geared towards fostering economic collaboration, ensuring the welfare and health of pets bred for commercial purposes in a single market where dogs and cats can be transported more easily but with strict standards and controls.

On the flip side, American investors eyeing France will benefit from streamlined and expedited processes. The existing four-year “passeport talent” residence permit process for US citizens will be made more efficient. This permit can be attained through at least 30% ownership of a company or a personal investment of at least €300,000 in a company, provided that they create or save jobs within four years.

This breakthrough in visa arrangements signifies a positive step forward in the trade and investment relationship between France and the United States. The simplified procedures and extended visa durations are expected to not only facilitate smoother cross-border business activities but also deepen economic collaboration between the two nations. As both countries embrace these changes, the stage is set for enhanced cooperation and opportunities on the economic front.

[Source Schengen Visa Info]

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Cyprus  |  France  |  business

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