Best of all, it is advisable to hire professionals who are absolutely experts to register a business in France from India. Hence, please see herein below, a few important points pertaining to the same:-
What you need to know before starting:
You will be asked to provide some or all of the following due diligence data and documents:
- Directors : Passport copy and proof of residence.
- Shareholders: Passport copy and proof of residence (for physical persons) or company registration certificate and articles/bylaws (for parent companies).
About the company Share Capital (Minimum Eur 5000 recommended):
The capital of your future company in France has to be transferred on a share capital account (escrow account) BEFORE the company formation in France. This step is mandatory to register your company.
PROCEDURE:
Step 1. Collection of Data/ Information Details
- Company Name: Confirm your company name;
- Business Activity: A brief description about your company’s main activity in France,
- Directors Details: Appointing your Company Directors. (In France there are no restrictions on the nationality or residency for Directors and Shareholders).
- Company Address: The commercial courts will be needing proof of address of your company in France such as an office lease or business address contract signed by your company. (If you do not have one, it can be provided via a few service providers).
Step 2. Transfer of Share Capital
All the company shareholders (individuals or companies) and their respective shares and capital value must be confirmed.
Step 3. Authoring of the Company Incorporation Documents
The authoring of all your company documents starts such as Memorandum & Articles of Association; Minutes of the First Board Meeting and Directors Nomination; Ultimate Beneficiary Owners Declaration; and miscellaneous documents. Directors and Shareholders will then be required to follow signature instructions.
Step 4. Submit Dossier to the Commercial Court
In most cases, it can be done online.
Step 5. Obtaining Company Registration Certificate & VAT number
On successful submission of all the documents in the correct order, the commercial court will be issuing the Company Registration Certificate (KBis) with your Company Registration Number (SIREN number). In fact, these documents are now your Ready to Trade License. VAT number is then issued within 2 or 3 weeks of the receipt of your KBis and SIREN number.
Step 6. Opening Corporate Bank Account
If you are not a French resident as d Director, trying to open a bank account then in France can be a complicated process. However, each client’s needs are different, and the business experts will help find the right bank for you! Usually, they have partnerships with French banks that are ready to help entrepreneurs worldwide and develop their activities in France,
Further, once the bank account is opened the company’s capital is released and credited to the company bank account.
Step 7. Appointing an Accountant for the Company Maintenance
Upon registration, French accounting laws require and dictate that bookkeeping and filing obligations (VAT, annual reports) commence as soon as the new company is registered, regardless of how many transactions you initially undertake.
Trust the above information will be very helpful now. Should you have any further queries or questions, please do not hesitate to contact me.
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