Published: 15 May 2012 08:48 GMT+02:00 | Print version
Updated: 15 May 2012 08:48 GMT+02:00
On the day Socialist president Francois Hollande takes power, there are signs that wealthy French citizens are thinking about moving abroad to escape tough new tax rules.
A survey by London-based real estate agent Knight Frank recently reported it saw inquiries about expensive London properties from French residents spike by 20 percent.
That was at the same time that inquiries from other European countries in general fell by 10 percent.
Francois Hollande has pledged to introduce a 75 percent tax on earnings about €1 million ($1.3 million).
"Seen from abroad, France is the last country where an entrepreneur wants to go," said Marc Simoncini, founder of French dating site Meetic.com, on BFM TV.
"I don't know any British person who's come to set up a business in France. But I know plenty of young French people who've gone to London to do that."
A property lawyer in the Belgian capital of Brussels confirmed the trend.
"Since Monday it's been a rush," he told Le Parisien newspaper.
"In two and a half days I've received fifteen new applications. I have a huge number of meetings."
A Swiss lawyer has a similar story, claiming to have dealt with as many serious inquiries in the last three months as he usually would in a year.
In England, Alexander Kraft, president of Sotheby's International Realty France told the newspaper there had been "several" wealthy French people who had shown an interest in moving to London since the first round of the presidential elections.
High ranking ministers in the French government can expect a grilling in the coming days as an investigation into a tax fraud scandal got underway on Tuesday. The probe was set up after the former budget minister admitted having a secret bank account. READ () »
Hopes that France's long, hard winter would be followed by a warm, sunny spring have been well and truly washed out after a weekend of heavy rain and storms. The country's weather agency saying more bad weather is on the way. READ () »
The French Interior Minister reassured the public on Tuesday that a global operation involving French and international police was underway to track down fugitive Redoine Faid, who remains at large after blasting his way out of prison in April. READ () »
VIDEO: French police have charged a minibus driver carrying a group of Marseille football supporters who were involved in a mass brawl with fans of fierce rivals Lyon at a motorway toll plaza in the south of France at the weekend. READ () »
Hundreds of French Facebook users bared all this week in a protest against the social media site’s strict censorship of nude photos. But the “Day of Nude” protest was cut short early when Facebook's photo police took swift action. READ () »
The French government may still be celebrating the victory of seeing its divisive gay marriage bill finally signed into law but the battle over the issue of same-sex unions in France now looks set to move from a national to a local level. READ () »
An angry Chinese film producer had some harsh words to say about France this week, suggesting the country had a problem with public safety and arrogance after being the victim of a burglary at the Cannes Film Festival. READ () »
A proposal to introduce more courses in English and other foreign languages at French universities is set to be debated in parliament from Wednesday amid concerns it will undermine the country's soul and identity. READ () »
A 48-year-old divorced Briton locked in a bitter custody battle confessed on Sunday that he had killed his two young children by slitting their throats near the eastern French city of Lyon. READ () »
As Carlo Ancelotti paid fulsome tribute to the retiring David Beckham the Paris Saint Germain manager revealed an announcement on his own future may be imminent. READ () »
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