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26 July 2018

In Brexit Age France Wants to Give a Warm Welcome to Big Financial Institutions

Post-Brexit options are endless, and French Prime Minister Edouard Philippe is taking notes.

After the Brexit event of 2016 in which the United Kingdom decided its now impending withdrawal from the European Union, various countries of the Eurozone began extensive projects and legislations to reduce the negative impact that their economies would suffer in such unthinkable scenario at the time.

One of those nations is France, since the election of Emmanuel Macron as president in May 2017, the French government has been leading an aggressive foreign policy that looks for a new European feel, in which the virtues of the EU are the sole flag. Prime Minister Edouard Philippe announced new measures to persuade the financial sector that has been set aside with new challenges in the UK.

March 19 at the Quai d’Orsay the meeting took place, where more than 200 representatives from major financial institutions were in attendance to discuss the new opportunities and vast environments to invest, build and develop their endeavours in France and the whole European continent.

Key points from the meeting

  • A flat tax of 30% applied to carried interest will be implemented
  • The reduction of taxes for impatriates
  • Removal of the marginal rate of the payroll tax
  • Removal of the financial transaction tax to intraday transactions

With the creation of the “Tax 4 Business” information point, companies can accelerate their administrative procedures in order to establish their businesses in France according to national legislation. France is seeing a new wave of international investors, such is the case that Business France Magazine is attributing this moderate success to president Macron.

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