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A Few Tips on Opening a Corporate Acccount in France

Written by: Bridgewest

A-few-tips-on-opening-a-corporate-account-in-FranceOne of the most important steps when opening a company in France is setting up the bank account. Moreover, companies’ relations with banks are important because all transactions must pass through them. In this article we will explore the French banking system and the requirements for opening corporate bank accounts in this country. Our lawyers in France can assist companies seeking to open various types of accounts here.

Local and EU legislation on opening bank accounts in France

Banks play an important role when opening a company in France. This is because one of the steps related to the registration of the company implies opening the bank account in which the share capital will be deposited.

France has its own regulations related to accepting clients, but it also adheres to EU directives related to anti-money laundering regulations which provide for “Know Your Customer” rules. This is why opening a corporate bank account in France could prove difficult if any of the supporting documents are not in order.

When opening a corporate account in France, a foreign investor should consider banks which usually work with foreign entities or natural persons. Even so, the opening of the account could take a while. This is because the bank needs to thoroughly check the background of the investors.

Documents related to opening the corporate account in France

  • Here is what to consider when applying for opening a corporate bank account in France as a foreign investor:
  • -          the shareholding structure must be clearly explained to the bank’s representative;
  • -          the company must provide the certificate of registration, the bylaws, a decision of the board of directors and the articles of association in order to increase their chances of opening the account sooner rather than later;
  • -          even if it is not required, a business plan and some projections on the future activities of the company are always welcome by the bank;
  • -          a description of the activities of the company is also beneficial to the future bank account owner.

Our law firm in France can explain what documents a company needs in order to speed up the bank account opening process. We can also assist with the registration process of the company which has been significantly reduced, so do not hesitate to contact us.



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