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.
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.
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.
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.
FAQs of Business Formation in France
What is the corporate tax in France?
France is one of the most expensive countries in Europe. It has higher taxes than other European countries. Companies earning up to EUR 500k pay a corporate tax of 28%. Companies above that pay 31%. In addition to these taxes, companies face additional taxes such as VAT, social contributions, and climate change focused taxes.
Do I need to be physically present to register a company?
No. However, it is recommended that you be physically there to handle some basic things. At the same time, you can use services like those offered by our company, GFSC Global. We are one of the best-known companies in the industry. We offer these services to companies in France and other European countries.
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