Doing business in France
Ongoing reforms introduced by the government are making France a simpler and more attractive place to do business in. “For expatriates, the government has lightened taxes on high incomes by abolishing the wealth tax and is proposing measures to promote the reinvestment of dividends,” says Mathieu. “Since 2015 and until the end of the first half of 2021, cost competitiveness has improved the most in France of all eurozone members. Taxation is also improving: the corporate tax rate, reduced to 28% in 2020, is now lower than in Germany.”
France also enjoys record low interest rates on business loans and corporate bonds, and the Global Competitiveness Report notes that the country scores well in terms of access to bank credit.
It is not all plain sailing, however. “Despite the simplifications that have come into force in recent years, the formalities involved in setting up a company remain very cumbersome,” adds Vianney.
Specialist help can help companies wishing to establish operations in the country, says Mathieu: “France welcomes foreign investors by providing them with organisations such as Business France and Choose Paris Region to help them set up a business, simplify their administrative procedures and find the right people to finance their projects. And as pro-business reforms continue, companies from around the world can increasingly be expected to seize the opportunity to set up in France in the years to come.