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Registering a company in France in 2020
The advantages of this jurisdiction are:
- Minimum requirements for an authorized capital;
- No residency requirements;
- The presence of agreements on the avoidance of double taxation;
- Access to the EU market;
- The ability to establish a business without a personal presence.
Registration of a business – from €3 200
Company registration period – from 30 days
To register an enterprise in France, you must apply to the French Center for Business Formalities, which, also, processes applications for registration in the register of commercial and industrial companies.
A phased process:
- to choose a type of company;
- to provide constituent documents (notarized);
- to register shareholders data in the commercial register;
- to get a tax number;
- to obtain an appropriate license in France.
Registering a French business enterprise, in the implementation of the above items, takes from 7 days.
A package of required documents:
- A booking form in the name (submitted to the Commercial Register);
- A characteristic of an enterprise;
- Data on all shareholders, directors, notarized copies of documents;
- A distribution of shares.
A Charter is the main document, written in French and notarized, that are required, when setting up a company in France. A Charter contains a detailed information about sharers/directors, a statutory fund, about the share of shares of interested parties.
The legal address determines the tax residency. A confirmation of this is the rental.
Please note: an address can be changed or expanded (when opening branches in France).
A process of establishing an enterprise
- Choosing a unique (a previously unregistered) name;
- Opening a corporate account in France;
- A submission of necessary documents.
- Obtaining a French licence (can reach several weeks).
Enterprises must list themselves in:
- Manufacturing - in the Chamber of Commerce;
- Commercial agents and non-trading organizations - in the Commercial Register;
- Agricultural firms - in the Agricultural Chamber.
Each firm should receive an extract from the Register of Trade and Companies (RCS).
Types of businesses:
- an LLC (SARL). A liability depends on the amount of a down payment. An authorized capital is 1 euro.
- an Open JSC (SA). Suitable for medium/large companies. A distinctive feature is the presence of the Board of Directors. An audit is required. The minimum authorized fund is 37,000 euros.
- a Simplified JSC (САС). There are no minimum capital requirements. A number of partners is 2, who freely organize all types of activities.
- an LLC (EURL) with 1 member. Looks like an LLC, but a taxation is different.
- a Full Partnership (SNC) can be established by at least 2 associated companies, who are endowed with an equal liability for debts of the enterprise.
IQD Consulting experts are ready to provide a client with a detailed information on opening a corporate account in a French bank, assist at every stage of registering a French enterprise.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
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