10 good reasons to invest in France [fr]
To invest at the heart of the world’s largest market
- France alone is a market of over 65 million consumers, making it the 2nd largest in Europe and the world’s sixth largest economy.
- The European Union remains the world’s largest economy, with over 500 million consumers.
To avail of effective, high-level infrastructures
- France has Europe’s most extensive road network and Roissy-Charles-de-Gaulle is Europe’s busiest airport for freight and second-busiest in terms of passenger numbers. France also has Europe’s second-largest high-speed rail network. Paris-Le Bourget is Europe’s leading business airport.
To have a productive and dynamic workforce
- France ranks 6th in the world for hourly labour productivity (€45.60 per hour worked compared with €37.30 in the eurozone).
- It has a highly-qualified workforce: in 2015, 45% of 30-34 year olds were higher-education graduates.
To take advantage of low set-up costs
- Set-up and operating costs are lower in France than in the United States, Germany and Japan.
- Furthermore, renting office space in the Paris business centre is half the cost of the same space in London’s West End (€875/m²/year as opposed to €1,978/m²/year).
- We must stress that creating a company in France costs less than 1% of average per capita income, compared to an average of 9% in the G20 countries.
To invest in an innovative economy which supports innovation
- The world’s biggest startup campus is in France: Station F will bring together 1,000 startups in Paris in 2017.
- Furthermore, research tax credit (CIR) is open to all companies and amounts to €5.7 billion per year. No less than 22,830 companies received it in 2013.
- €47 billion was mobilized for the Investments for the Future Programme (PIA) and the French Very-High-Speed Broadband Plan.
To benefit from a competitive and dynamic financial management market
- One of Europe’s leading management industries with almost €3,600 billion of managed assets (i.e. 1.5 times French GDP), including €1,700 billion in investment funds and €1,900 billion in mandates. Over €450 billion managed for non-resident clients.
To enjoy renowned quality of life and cultural activities
- France is the world’s leading tourist destination in terms of visitor numbers (UNWTO, 2015) and ranks third in the world in terms of health infrastructure meeting the needs of society (IMD, 2015). France ranks eighth in the world for life expectancy at birth (82.8 years). It has great cultural and creative appeal: the Louvre is by far the world’s most visited museum.
To take advantage of highly competitive production costs
- The Competitiveness and Employment Tax Credit (CICE) and the Responsibility and Solidarity Pact together make up a €40 billion reduction in production costs for companies: this is equivalent to almost 2% of GDP which will support activity and enable 500,000 jobs to be created by 2020.
To benefit from simplified administrative procedures
- France is the European leader in terms of e-administration and is fourth in the global ranking based on three criteria: on-line services offered by the government, telecommunications infrastructures and its population’s level of education.
- The act on the simplification of running companies, which was passed in December 2014, enabled companies and users to make savings of €3.3 billion in 2013-2014. The single individual social declaration will save companies €1.6 billion in 2015-2016.
To take advantage of facilitated reception and set-up for managers and employees
- France has signed tax conventions with over 120 countries (avoidance of double taxation). It has also provided companies with a single contact for tax matters (Tax4Business) and adapted residence permits (Talents Passport, created in 2015).
- A grant and a support mechanism for innovative entrepreneurs were also set up, known as the French Tech ticket. 50 foreign entrepreneurs benefited from this mechanism in 2016, with the number increasing to 70 in 2017.