Brexit: The French Governement announces concrete steps to attract London’s finance

As Brexit fast approaches for 2019, the French Government recently presented a series of measures to increase Paris’s attractiveness in anticipation of the United Kingdom’s exit from the European Union, at a time when more than 3500 jobs are expected to be transferred from London’s financial sector to France:

• Already announced in December 2017, a reduction, specifically tailored for the financial sector of France’s social contributions is coupled with a lower tax on high salaries and an attractive status for expatriates coming into France, extended from 5 to 8 years. Similarly, the Governement just announced investment funds’ ‘carried interests’ will be subject to the « flat-tax » instead of regular salary income, further increasing France’s competitiveness.
   
• Regarding Paris’s offer in terms of international schooling, the Prime Minister announced an international school would open in 2019 in Courbevoie, next to Paris’s financial district of La Défense. Two more international schools are set to open by 2021 in Paris and its surroundings.

The Government intends to ciment Paris as the first financial center in mainland Europe.

All our team at Home Conseil Relocation is on deck around consequences of Brexit in order to make your transition into France as smooth as possible.

Sources:

• lesechos.fr
• europe1.fr
• latribune.fr