Company formation in France

 

About France

France is the second-biggest economy in the European Union. It has a GDP of more than $2.5 trillion, which makes it the sixth largest economy in the world. The country has a population of more than 66 million people, who speak mostly French. The country is a member of a number of global organizations like OECD, NATO, G7, G20, and the European Union. France is bordered by countries like Belgium, Luxembourg, Germany, Switzerland, Italy, Spain, and Andora. The country is ranked at position 32 on the ease of doing business index. 

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Why Register a Company in France?

There are several reasons why you would consider registering a company in France. These are:

  • An iconic country with many significant service industry.
  • Highly developed to support manufacturing. This makes it the sixth largest exporter of manufactured goods.
  • A strong member of the European Union. 
  • A youthful population that makes it easy for companies to access labour.
  • Excellent infrastructure.
  • Strategically located, which leads to a large market.

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How to Register a Company in France

The process of registering a company in France is not very difficult. The recent French governments have made it easier for local and international companies to do business there. The first step of registering a company in France is to come up with a name. The name may be in French, English, or any other EU-recognized language. 

After securing a name, you need to have articles of association. These articles are drawn by a person with good legal knowledge. They just need to outline what the company will be doing and how it intends to comply with local regulations. These documents must be submitted to the legal gazette. After this, you should register with the commerce ministry

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Types of Businesses You Can Register in France

  • Sole proprietorship – This is recommended for freelancers and people working alone.
  • Commercial partnership – This is ideal for a group of two or more people who want to work in collaboration.
  • Limited liability company – This is the most common types of companies in France. The liability is transferred from the directors to the company.
  • Joint venture – This is when an international company partners with a local French company. 
  • Joint stock company – This is a company whose stock can be traded on the stock exchange. 
  • Simplified stock company – This is a simplified version of a joint stock company. You need just two shareholders.

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 The company formation procedure in France is usually based on document gathering and other procedures such as drafting the articles of association, the specimen signatures, affidavits, and other special forms, as well as performing public notary procedures and certified translations. Usually, a French registered office is also required for starting a company in France in order to have a mailing address to communicate with the partners and French authorities. Opening a bank account and hiring a local accountant is also required for setting up a company in France.

 

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Set up Company in France

Updated on Thursday 23rd September 2021

The company formation procedure in France is usually based on document gathering and other procedures such as drafting the articles of association, the specimen signatures, affidavits, and other special forms, as well as performing public notary procedures and certified translations. Usually, a French registered office is also required for starting a company in France in order to have a mailing address to communicate with the partners and French authorities. Opening a bank account and hiring a local accountant is also required for setting up a company in France.
 

 Quick Facts 
  Types of companies

Limited Liability Company (SARL)

 Joint-Stock Company (SA)

Simplified Joint-Stock Corporation (SAS)

Sole Proprietorship (EI)

Commercial Partnership (SNC)

Minimum share capital

for LTD Company 

EUR1

Minimum number of

shareholders for Limited Company 

 1
Time frame for the incorporation 

2 weeks

Corporate tax rate25%
Dividend tax rate 26.5%

 

VAT Rate 

20%

Are Shelf Companies Available? No 
Do you supply a Registered Address/Virtual Office?  Yes 
Local Director Required  No
Annual Meeting Required No
Redomiciliation Permitted No
Electronic Signature Yes 
Is Accounting/Annual Return Required? Yes 
Foreign-Ownership Allowed Yes 

 

Types of business entities in France

 

A businessman interested in company formation in France should know the main types of entities that can be used for incorporation: 
 
  • - The private limited liability is the most common business form in France and it requires at least one shareholder and a minimum capital of 1 euro. The initial capital is decided in the articles of association by each legal entity. The liability of the entity’s members is limited in extent to their contribution to the capital. The management is assured by individuals appointed by the general meeting of the shareholders and they are called directors. An auditor is necessary to be appointed if the company meets two of the following conditions: it has more than 50 employees, a net turnover over 3.1 million EUR or a total balance sheet over 1.55 million EUR.

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  •  A SA (societe anonime) is a form of business established for major businesses and must be formed by at least seven members, corporate bodies or individuals. It is mandatory that at least one member is an individual. The minimum share capital of this business is 37,000 EUR (from which at least half must be deposited at registration and the other half in maximum five years). The management is assured by a board of directors with three to 18 members appointed by the highest instance in the company, the general meeting of the shareholders. Unlike the private limited liability companies, the appointment of a statutory auditor is mandatory. 
  • - Another form of business is the French SAS (societe par actions simplifiees) formed by at least one member. There is a minimum share capital of 37,000 EUR. The management of such company is assured by at least one director and the appointment of an auditor is mandatory only if one of the following conditions is met: the company has more than 20 employees, the pre-tax turnover exceeds two million euros or the total balance sheet exceeds one million EUR.
  • - The SNC (societe en nom collectif) is a form of business formed by at least two partners with no minimum share capital.  The particularity of this type of business is that the partners are liable in extent of their personal assets for the entity’s liabilities.

 

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  The SCS (société en commandite simple) is formed by a general partner and a silent partner. The silent partner is providing capital and it is considered liable only in extension of that capital, while the general partner doesn’t provide any capital and he is considered liable even with its own assets for the entity’s liabilities. The major decisions are taken by the general partner, while the silent partner cannot take part in the management.

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  •  The SEL (société d'exercice libéral) is a rare form of business established by professionals in order to allow those to exercise their professional activity in the form of companies.
  • - The EURL (entreprise unipersonnelle a responsabilité limitée) is a hybrid between a limited liability company and a partnership which doesn’t require a minimum share capital and with the personal assets of the owners not protected in case the company has outstanding debts.

 

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