The attractiveness of
The attractiveness of the Paris region: What are the benefits to setting up your business here?
The Franco-British Chamber’s breakfast on the 1st of June struck a very positive tone: Paris is back in business. In association with Magellan and Paris Region Entreprises, the event was themed around the reasons why Paris is such an advantageous place to establish your company.
Franck Margain, Executive Director of Deutsche Bank and President of Paris Region Entreprises opened the breakfast with a discussion of all the reforms President Macron had set into motion. He concluded that the changes to the tax regime, public services and pensions have made the Paris region more attractive to foreign companies.
With a market of 510M European consumers within the distance of a 2 hour flight, it is easy to see why business thrives in Paris. Major companies such as Goldman Sachs and JP Morgan have already announced plans to relocate to Europe’s biggest region. Socially, the Paris region is also incredibly multilingual, with many international schools to accommodate for foreign students of all ages.
By 2021 the region will have the largest fibre optic coverage, to add to the 99% 3G coverage across France and the 76% 4G coverage. Europe’s largest transport project is also underway with a total of 200km of new train lines to be built and 68 new stations. As Mr. Margain stressed, good infrastructure is vital for business.
Finally Mr. Margain discussed the fact that Paris is Europe’s leading region due to its economy and innovation. It boasts 5,000 start-ups, more than 1,200 research and development labs with 155,000 workers and researchers and 1.7 Bn€ of venture capital funding. France also has a unique and attractive taxation system; R&D tax credit covers 30% of all R&D expenses up to 100M € and 5% above this.
It was then the turn of the international team at Magellan to explain their offer to those wishing to set up their business in the Paris region. They touched upon the principal points to consider when setting up a business; the three main corporate structures in France, taxation, French labour law, recruiting in France and cross-border litigation. They explained that their approach is tailored to every client’s needs; a one-stop shop. With the support of the Franco-British Chamber’s extensive network of experienced members, Magellan can offer a full service to its clients, helping with anything from sourcing schools for young children, to advice on the intricacies of French labour law.
Mr. Thierry Drilhon, Vice President of the Franco-British Chamber brought the breakfast to a close, reiterating the positive message that it was business as usual in Paris. Paris Region Entreprises, Magellan and the Franco-British Chamber are all willing to aid companies in their establishment in the region with tailor-made services. A Q&A followed with further coffee and croissants whilst networking.
If you would like further information about setting up in France, please contact firstname.lastname@example.org or call +33 1 53 30 81 30.
8:30 am - 10:30 am
Franco-British Chamber of Commerce
63 Avenue de Villiers, 75017 Paris