French executives and professionals have previously been targeted by other countries including Britain to lure them away due to the high level of taxes in France.
However, France is now getting its own back, taking advantage of the uncertainty surrounding the exit from Europe by the UK France has stepped up to offer various advantages designed to attract talented professionals in an effort to promote Paris as an International Financial Centre.
These incentives include the following:-
Lowering the corporation tax rate from 33%, one of the highest in Europe to 28%.
Plans to open international sections in schools for children to be taught in their mother tongue
An extension from five to eight years of the income tax discounting period for immigrating employees
Reductions in the red tape in order to assist foreign workers to settle in France along with a single point of contact
Although France can still be a relatively expensive place to live taking into account taxes and cost of living when compared to other countries that are also seeking to attract skilled professionals it is also quick to emphasis its other attractive qualities including high level of infrastructure, educated population and its vibrant cultural scene.
These pro-business reforms are a stark contrast to the wealth taxes that had previously cost France dearly in relation to companies and skilled professionals and it is remained to be seen the impact that they will have in attracting both business and individuals to their shore.