The French revolution: Paris’s startups are on the rise. Investors used to sigh when talking about French startups. However, a string of successful unicorns, the pro-business politics of Emmanuel Macron and Brexit have shaped Paris into an entrepreneurial hotbed to reckon with. Paris is maturing into an impressive startup ecosystem, attracting foreign talent and funding.
Research shows France received more VC investment than Germany in 2016. The first generation of successful entrepreneurs from firms like Criteo and BlaBlaCar have started investing in the next generation of founders. French investors and founders told Business Insider initiatives like the Station F superhub, and the French Tech visa will make it easier to start companies in France. Here are some articles that give you a glimpse of recent developments in the French and Parisian tech scene:
- The French revolution: Paris’ startups are on the rise
- Paris is coming closer to toppling London as Europe’s tech hub
- Truly World-Class – Views on France’s Thriving Tech-Ecosystem
Tech On Map gives you a non-exhaustive overview of the tech ecosystem in Paris Region. It indexes tech companies, incubators/accelerators, fab labs, co-working spaces, universities, investors and relevant public actors.
This presentation of the French Tech scene will provide you with the key figures, success stories and a dedicated section on Paris.
This City's Cases
Settling as a founder
- Within three months of your arrival in France, you must complete a certain number of procedures connected with your right to stay:
- With the French Office of Immigration and Integration (OFII) if you have applied for a long- stay visa equivalent to a residence permit (VLS-TS).
- With the prefecture of your department for other long-stay visas that specify ‘residence permit must be applied for’.
The French Tech Visa is a simplified, fast-track procedure for three types of international tech talent to obtain a residence permit known as the “Passeport Talent” (“Talent Passport”)
The French Tech Visa is open to three categories of tech talent – startup founders, employees, and investors – and allows them to live and work in France. It is valid for four years, on a renewable basis. For more information follow this link.
Please note that citizens from the European Economic Area and Switzerland do not need a residence permit.
Tax4Business provides answers to investors’ questions about how taxation applies to them; enables them to seek advance rulings (rescripts) from the tax authorities; offers multilingual tax-related information directly tailored to their needs; provides access to further explanations in English.
Public Insurance Schemes
French social security system, about which a further description can be found here. Foreign employees may contribute to optional social security schemes in their home countries.
Access to capital
Access to talent
Renowned universities and talent in Paris “6 French schools are among the 12 best masters in finance (FT, 2016) and the recognised the expertise of France for Mathematics, Statistics and IT is still increasing.” Top 3 Business Schools in Europe: HEC, INSEAD For Developers – Ecole 42, Epitech For highly qualified engineers – Polytechnique, Mines, Centrale/Supélec For IT experts – Telecom, ENSAI, EISTI, Telecom Management More info is available here and here.
You can source your talent here:
French employment law has been undergoing significant changes in recent years to streamline and modernise the labour market. Companies have a variety of options enabling them to build their French workforce efficiently and to manage and incentivise their personnel. For further information click here.
Setting up your Company
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However you decide to set up your business, all the formalities for creating a new company can be dealt with at the nearest Centre de formalités des entreprises (CFE), which are located throughout France. They handle all administrative details in one place, including all the documents required to set up, change or close down companies, and deliver them to the relevant authorities. It takes a few days for a company or branch to be recorded in the Company Register (Registre du commerce et des sociétés – RCS).
A company or establishment can also be registered online.
Firstly, when opening accounts, banks in France must strictly adhere to French and European anti-money laundering regulations, which are based on European Union directives and FATF recommendations (Financial Action Task Force on money laundering).
To open an individual or joint bank account, you will need to present valid photo identification and proof of address. As a guide, you may be asked to provide any of the following documents: photo ID (passport), residence permit, proof of address and some other documents depending on the bank of your choice. Once the bank you have chosen agrees to open an account in your name, you will need to sign an account agreement specifying its terms and conditions of use and operation.
Well-known office space providers: