France is actively pitching Paris as a more attractive financial center to rival the City of London after the U.K.’s late-June vote to leave the European Union, French Prime Minister Manuel Valls said Saturday, according to French media.
“We know that groups based in the City are planning to leave for Dublin, Amsterdam, Frankfurt and Paris. We are working on measures that could help strengthen our attractiveness. I think notably about taxation or the status of expatriates,” Valls told Le Parisien daily.
He added: “To major international companies I say, ‘Welcome to Paris! Come invest in France’!”
Banks and other financial firms have mulled this so-called “passporting” issue, acknowledging the possibility of having to relocate staff should U.K.-based firms lose the right to sell financial services across Europe in the wake of the Brexit vote.
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From:: Stock Market News