Business with France

Simplification of procedure to set up a Section 8 Company (Not for profit Organisation)

Purva Marwaha - 27-juin-2019 13:53:13

Simplification of procedure to set up a Section 8 Company (Not for profit Organisation) The Ministry of Corporate Affairs (the  MCA ) vide its notification dated 7 June 2019 has amended the Companies Incorporation Rules, 2014 to simplify and fast track the incorporation procedure. This shall be effective from 15 August 2019. From now onwards, any person desirous of incorporating a company under section 8 i.e., Not for Profit Organisation, under the Companies Act, 2013 can make an application in e-Form INC-32. No separate application for license is required to be made. Prior to this amendment, the applicant was required to make an application in Form INC 12 to obtain license and thereafter application for Incorporation was required to be made. Post scrutiny of the documents, the Certificate of Incorporation for Section 8 companies will now be issued by Registrar of Companies in Form INC-11 which earlier was issued as a licence under Form -16 or Form-17 as the case may be. Source:  http://www.mca.gov.in/Ministry/pdf/Rules_07062019.pdf


Employee State Insurance (ESI) contribution reduced w.e.f July 1, 2019

Purva Marwaha - 27-juin-2019 13:50:33

Employee State Insurance (ESI) contribution reduced w.e.f July 1, 2019 “ ESI , is a social benefit that seeks to provide certain benefits to employees in case of sickness, maternity and employment injury (via the Employees’ State Insurance Act, 1948). Via an amendment in June 2019, the Ministry of Labour and Employment has amended the Employees’ State Insurance (Central) Rules, 1950 to bring effect to the Employees’ State Insurance (Central) Amendment Rules, 2019: to reduce the rate of contribution from 6.5% to 4%. The employers’ contribution is being reduced from 4.75% to 3.25% and employees’ contribution is being reduced from 1.75% to 0.75%. This amendment shall come into force from  1 st  July, 2019   Source:  Gazette Notification No.G.S.R. 423 (E) dated 13 th  June, 2019, http://egazette.nic.in/WriteReadData/2019/205715.pdf


France, the new European place for Finance

Purva Marwaha - 27-juin-2019 13:18:39

France, the new European place for Finance   DID YOU KNOW? 4 reasons why France is becoming the new European place for Finance   1. A LEADING ECONOMY #5 world’s economy #2 European market: €2,210 bn (2017) up 2% GDP growth in 2018 Euronext: Eurozone Equity #1 stock market in capitalization   2. A LEADING FINANCE INDUSTRY     IN THE EUROPEAN UNION #1 for asset management #1 for private equity and venture capital #1 for insurance and banking solutions 6 French schools in the Financial Times ’s global Top 12 for best Masters in Finance   3. MAJOR OPPORTUNITIES #1 concentration of global Top 500 corporate HQs in Europe #2 household savings rate in Europe #1 R&D environment in Europe Pro-business government and local authorities   4. AT THE HEART OF THE EUROZONE A direct access to 500 million European consumers Relocation of the European Banking Authority in Paris An access to Europe, through the financial EU passport, and a gateway to the world, through bilateral agreements     A PRO-TECH GOVERNMENT “France is witnessing reform at a rate never seen before” Financial Times - May 17, 2018   1. LABOR MARKET New Labor Law: November 28, 2017 Greater flexibility : more flexible rules governing dismissals; company-level bargaining Reduced costs : financial cap in courts on damages for unfair dismissals   2. TAX CUTS 30% flat tax on capital Reduction of corporate tax from 33.3% to 25% by 2022 Abolished: wealth tax + exit tax   3.   NEW REGULATION Pro-immigration: fast-track “Tech Visa” for foreign entrepreneurs & employees Fostering AI : opening of State-owned data, e.g. in healthcare & transportation Crypto / ICO: new pro-innovation regulation   4. INVESTING IN THE FUTURE: INVESTING IN CAPITAL Launch of the Next 40 index €10 billion public fund for innovation and industry €50 billion investment plan for the digital transformation     FRANCE IS THE IDEAL SPRINGBOARD FOR GLOBAL FINANCE An easy access to the European financial market through the EU Passport and MoUs signed by French NCAs with non-EU regulation authorities   CHOOSE FRANCE 


Attractiveness recognized, French innovation acclaimed!

Purva Marwaha - 27-juin-2019 13:07:07

Attractiveness recognized, French innovation acclaimed!     The “France Attractiveness Survey” published by EY beginning of June 2019 records the international investments made in Europe each year and analyzes the perception that foreign economic decision-makers have of France; as such, it measures real and perceived attractiveness compared with France’s leading competitors.   Against a backdrop of falling investment decisions in Europe (-4% of projects recorded between 2017 and 2018), France confirmed its attractiveness, coming in second place of host countries in Europe, and recapturing the rank it had previously lost in 2010. With growth in projects of 1%, compared with a decrease of 13% in the United Kingdom and Germany, France posted 1,027 recorded projects and continues to build its image with economic decision-makers.   The image of an industrial and innovative France emerges in this barometer, with a strong dynamic of R&D investments and the maintenance of France’s industrial leadership of Europe. For the first time, France is ranked first among European countries as a destination for innovative investments (with 144 projects), bringing together more innovative projects than Germany and the United Kingdom combined.   There are over 150 companies controlled by an Indian investor operating in France, where they employ more than 7,000 people. Seventeen investments from India were recorded in France in 2018, creating or maintaining 141 jobs. Samvardhana Motherson Group and Rahman Group were a few big investments and re-investments made in France in 2018.     Indian projects often involved decision making centers (59% of projects; 53% of jobs) and production/manufacturing operations (18% of projects; 34% of jobs). Investments were mainly made in the software and IT services sector (24% of projects; 30% of jobs), and the machinery and mechanical equipment sector (12% of projects; 21% of jobs).   France also confirmed its leadership as a host country for industrial investments in Europe, with 339 recorded projects, or 5% more than in 2017, as it continued to hold top spot for more than 15 years.   The perception survey that completes the report shows that since the start of 2019, France’s image has remained positive, despite a difficult social climate; 80% of investors set up in France declare themselves to be satisfied or very satisfied with their investments in France, while also highlighting that France must pursue its efforts to increase its attractiveness in fields as varied as education and training; reducing labor costs; reducing taxation; and supporting SMEs and mid-size companies.   “France is modernizing its economy and investors are sensing this strongly as they make long-lasting investments in our country. These results can be read coherently with the record year for foreign investment recorded by Business France. The support provided by the government to high-tech industries and innovative projects, even though it must always be constantly supported, is helping our teams at Business France to convince people and is helping investors to choose France as a destination for their European operations,” said Christophe Lecourtier, CEO of Business France.   “France is convincing more and more decision-makers. The reforms being led and confirmed by the French government show the collective will that exists to make our country more competitive and attractive. The successes of VivaTech and Tech For Good, as well as the emergence of future unicorns, clearly positions France as a European leader in innovation, as shown by the 144 R&D investment projects recorded by this report. From my recent meetings with investors in Hong Kong, Singapore, Berlin and New York, I know that this strong message about a France on the move is being heard. We remain strongly committed to make the potential of France better known, which is particularly necessary work with our non-European partners. We have to capitalize on this!” said Pascal Cagni, Chairman of the Board of Business France.


France among the top 5 most attractive countries

Audrey Lucbernet - 31-mai-2019 07:21:35

A .T. Kearney has just published its annual Foreign Direct Investment Confidence Index ranking, featuring France in the Top 5 of the most attractive major countries for the first time. It’s good news for the French economy, which has just gone up two places to join the Top 5 with the United States, Germany, Canada and the United Kingdom. It now ranks ahead of Japan, China and Australia as one of the countries likely to attract the most investment over the next three years. According to the institute, France’s new position in the ranking of attractive markets can be explained by "the improvement in the business climate" and "the recent reduction in the corporate tax rate". Among the other Top 5 countries, the United States maintains pole position thanks to " sustained economic expansion in recent years". Germany has gone up a place thanks to "strong competitiveness indicators and technological and digital infrastructure initiatives". Canada has benefited from " investment stimulus efforts", despite falling once place. As for the United Kingdom, it remains in fourth position, "despite the uncertainty surrounding Brexit". A.T. Kearney is an American economic and fiscal strategy consulting firm that publishes an annual "confidence index" based on data from an exclusive survey of 500 executives of large global companies. The 10 most attractive countries for foreign investment United States (no change compared to 2018) Germany (up 1 place) Canada (down 1 place) Great Britain (no change) France (up 2 places) Japan (no change) China (down 2 places) Italy (up 2 places) Australia (down 1 place) Singapore (up 2 places) You can see the full rankings on the A.T. Kearney website : https://www.atkearney.com/documents/236833/2632298/Facing+a+growing+paradox.pdf/c1c5e325-6107-a1c0-5f62-ad33e9bb3d2c?t=1556632933733


Ambition India & Roadshow of Indian companies in Lille and Paris

Audrey Lucbernet - 31-mai-2019 07:17:41

Ambition India & Roadshow of Indian companies in Lille and Paris - 20 to 22/05/2019 3 days program with a delegation of Indian companies in France Day 1: Roadshow in Hauts de France, program organised by Nord France Invest & Région Hauts-De-France Presentation of Euralimentaire, the food excellence cluster that brings together innovation stakeholders in agri-food, nutrition, health and logistics in the Hauts-de-France Region, followed by a presentation of REV 3, the "3rd Industrial Revolution" Mission. REV 3 is a collective dynamic that aims to transform the Hauts-de-France Region into one of the most advanced European regions in terms of energy transition, digital technologies and new economic models (circular economy, economy of functionality and cooperation, etc.) and visit of the port of Dunkirk which has a huge potential to welcome logistics and industrial projects, in the context of Brexit – a dozen of of participants Day 2: roundtable Attractiveness of France during Ambition India, Franco-Indian business forum organised by Business France in Paris on 21st of May 2019 with a panel of Indian success stories composed of Arvind Mehra, CEO of Mahindra Aerospace, Nagesh Kumar, head IT of TCS France, Anurag Rathor, CEO of Zify, Haru Mehra, CEO of Le Frehindi & Antoine Leborgne, Project Manager of Stellapps ; round table moderated by Pranjal Sharma, writer and journalist - more than 50 participants were present at this roundtable. Day 3 : Roadshow in Ile de France, program organised by Paris Region Enterprises Presentations of Paris’ region, the 1st European Business hub and its opportunities in finances and services, in the context of Brexit & visit of the Descartes smart city cluster, its incubator and its fablab - a dozen of participants.


Frehindi - an educational & cultural exchange bridge between India & France

Audrey Lucbernet - 29-avr.-2019 09:01:06

 Le Frehindi is an Indian SME which has set up an office in France last year. The name ‘Frehindi’, as it suggests, is derived from the languages ‘French’ and ‘Hindi’. The company is working for the benefit of students, aiming to help them become global citizens by providing them opportunities through languages, cultural exchange programs, competitions and access to international education opportunities, perfectly in line with the wish of the French President, Mr. Macron who would like to double the number of Indian students to France by 2020.   In India, “Le Frehindi” is in direct contact with twenty thousand (20,000) students who learn French language, and who participate in various competitions, events and exchange programs organized between India and France by Le Frehindi. Since its inception in France, the company has entered into partnership with various French Schools and Universities and hence bringing groups of French students to India to explore the Indian culture and heritage and vice-versa to introduce Indian students to French culture. After setting-up in Paris, Le Frehindi has opened successfully a new office, in Lyon (Auvergne-Rhône-Alpes), in 2018. Check the video of Mr. Haru Mehra, Founder of  Le Frehindi talking about his success story in France https://youtu.be/pA6WTFhbAwI   


About
THE STORY BEHIND CREATIVE FRANCE   Créative France is the story of accentuating the ‘creative’, both literally and figuratively.   It’s the story of a different approach, of the spark ignited by phrases and by words and images. It’s the story of an airliner that gains a second deck, of a coding school that becomes a nexus for learning, of a pastry that is coveted like a precious jewel.   It’s the story of a strong visual identity that is at once bold, elegant, prominent, modern, dynamic, surprising, flexible and unifying.   It’s the story of a creative, unconventional campaign that highlights our country’s full range of strengths, skills and savoir-faire. And for good reason – France is at the forefront of technology, design, industry and education, to name but a few sectors.   It’s the story of France today: solid fundamentals enhanced by an outstanding ability to innovate and a c

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