Many entrepreneurs, as well as business magnates, have tried and failed at establishing in France. On the contrary, many have succeeded in finding a foothold on French land. Setting up a business is always a tiresome task, and there is no denying this fact.
The worries and woes of starting a business get multiplied when you are in a foreign jurisdiction. Regulations, policies, and laws may churn you out of resources if you haven’t done your homework correctly. In this article, we shall provide some crucial suggestions which might come in handy for setting up your enterprise in the French domain.
- Formulate a “statuts”:
The “statuts” is a document depicting the details of your enterprise such as rules, regulations, partners, and activity. Amateurs would opt for websites which provide predefined models of “statuts” and then hire lawyers to create a legal document which is practically illegible.
On the contrary, introduce minor modifications in the previous formats of “statuts” so that there is no complication on behalf of the tax authorities, banking personnel, and incorporation authority. Do not forget to incorporate custom articles and legally compliant statements.
- Make your presence visible with a physical address:
Every business needs to have an address and the same goes for your business in France too! You can opt for a suitable location for setting up your office depending on your preferences and the available budget and resources.
On the contrary, if you do not feel the urgency for an office you can go for a specific company as your mailbox address. This process has a name which is “Domiciliation D’Enterprise”.
- it’s time for the battle cry:
Once you are done with the above steps, you have to undertake an “announce legale” which denotes that you have to put the word out. Select a leading newspaper and pay them to publish your announcement. Take note that the prices for publishing “announce legale” is fixed by the government laws.
- Banking your way into business:
Estimate the capital requirement of your business. For beginners, open an SAS company which is considered as the most flexible and can incorporate even with a single euro. Choice of the bank is the next step and probably the most crucial one.
At the bank, your banker fills up your personal data and carries out the paperwork including the authorization of “statuts” and verification of address. Once you are finished with these formalities, you shall be provided access to a paid web interface. You will also receive a confirmation letter from the bank informing that your capital in the bank has been frozen and is in wait for incorporation.
- Inform the tax authorities of your proceedings at the bank and receive a confirmation letter.
- The final step involves incorporation which can be carried out through organizations such as the Greffe. Sending papers, tax authority documents, bank documents, announce legale and other crucial documents to the concerned government agencies and the chamber of commerce is included in this step.
These steps would provide only a superficial impression of the procedures. Get started to know more!