French investors and their family members planning to relocate to the United States can now enjoy an extended four-year US visa under a new bilateral agreement between the two countries.
The deal signed between France and the US officially entered into force on November 16, following negotiations that began back in 2022.
As a result, French citizens can now apply for an extended US visa, effectively doubling the previous residence permit duration from 25 to 48 months, Euronews explains.
Announcing the news and expressing enthusiasm about the deal, France’s Minister for Foreign Trade, Economic Attractiveness, and French Nationals Abroad, Olivier Becht, said that American investors in France will also now benefit from a simplified procedure.
It’s done! French entrepreneurs in the US will be able to benefit from a longer visa and American entrepreneurs in France from a simplified procedure. Happy to formalize this progress for our economic relationship.
According to Euronews, the new visa provisions primarily target people who are looking to establish businesses or make investments in the respective countries. This means, that the new rules do not apply to those purchasing properties without further business intentions.
For French citizens who will be moving to the US, the deal extends the duration of E visas to a total of four years, aligning with the French talent passport.
In order to be eligible for the four-year US visa, French applicants must engage in substantial trade, including services or technology, between the two countries. Moreover, applicants must also develop and direct the enterprise, hold an executive or supervisory position, or provide essential skills for its operations.
On the other hand, it has been stressed that there is no specific investment amount for an E-2 visa. However, the investment must be considered as “very significant”.
Regarding US citizens, Euronews explains that the existing four-year “passeport talent” residence permit process will be streamlined and expedited for American investors seeking to relocate to France.
This permit is attainable through at least 30 per cent 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 arrangement signifies a positive step forward in the trade as well as investment relationship between France and the United States as both countries continue to foster economic collaboration.
The simplified procedures and the extended visa procedures as expected to encourage cross-border business activities more than ever.
