In a groundbreaking move effective November 16, French citizens can now secure an extended four-year US visa deal. This is through a new reciprocal agreement. The initiative was born out of negotiations sparked by President Macron’s December 2022 visit to the US. It strategically fortifies trade and investment ties between the two nations.
Bilateral agreement
The US visa application process is streamlined for French investors with an extension of the US residence permits from 25 to 48 months. This provision is tailored for those establishing businesses, making strategic investments, or excluding property transactions.
The existing four-year ‘passeport talent’ residence permit offers enhanced convenience for American investors planning a move to France. To qualify for this permit, investors must meet specific criteria. This includes owning a minimum of 30% of a company or making a personal investment of at least €300,000. Additionally, investors commit to creating or preserving jobs within a four-year timeframe.
A significant aspect of the reciprocal agreement aligns French talent passport holders with extended E-1 and E-2 visas. This allows them a four-year stay in the US. To qualify for E visas, individuals must actively engage in substantial trade, services, or technology. Moreover, they are required to assume specific roles within the enterprise in which they have invested. This alignment creates a harmonized framework for cross-border mobility and economic engagement between the two nations.
Importantly, there is no stipulated investment amount for an E-2 visa, emphasizing the quality and impact of the investment over a fixed monetary threshold. According to the Euro News, Olivier Becht, France’s Minister for Foreign Trade, Economic Attractiveness, and French Nationals Abroad, expressed enthusiasm for this transformative development on Twitter (X).
This reciprocal visa deal facilitates smoother cross-border mobility for investors and families, underscoring the commitment of both nations to fostering economic collaboration and innovation. As the agreement takes effect, it stands as a testament to enduring diplomatic efforts and the forward-looking vision of France and the United States in an evolving global landscape.
XXX
