France has been slower than many of its EU counterparts to embrace a truly liberal business culture. At the same time, it has aggressively sought to attract foreign investment - and with considerable success. One result is that it is now very simple and straightforward to open a company in France.
REQUIREMENTS
Minimum share capital is €2 but banks require more than this figure in order to set up an account. The traditional share capital has been €7,500 but a minimum amount could be deposited of around €1,000. Please bear in mind that this is "working capital" and can be taken out of the account for use at any time.
Minimum number of directors is one. However, most people have two directors as this assists with the issue of "Social Security" payments. If the company has only one director the burden of these payments has to be incurred from day one of the company formation process.
FEES
Company formation, bank account set up and VAT registration: £2,308.90 ex.VAT.
TIMESCALES
Incorporation takes a week or two.
VAT registration takes up to 4 weeks.
OFFICES
A virtual office in Paris/Nice will cost £200 per month payable quarterly in advance and £600 deposit (refundable within 30 days upon termination of virtual office contract). A one-off set up fee of £150 is required here.
Serviced offices: as per requirement.
ACCOUNTANCY
Quote based upon approximate number of monthly invoices and projected annual turnover.
HOW DO I PROCEED?
In order to commence the formation procedure, we will require the following :
A
completed
application
form.
A
certified
copy of
each director/shareholders
passport.
Two
utility
bills that
are less
than three
months old.
