France was once seen as a country that was anti-entrepreneur. But with the election of Emmanuelle Macron who is furiously trying to put France back on the business map with new labour laws that favour the employer and tax cuts that ease the burden on business owners, France is now becoming a country where startups and entrepreneurs abound.
And with Brexit looming - putting the UK in a difficult position for business negotiations – and with the US getting tough with trade tariffs, France is being viewed as the next best option for traders and importers who want to stay the right side of the EU. In fact, many entrepreneurs who had originally left France for better business environments are now asking to come back to France. But how can they do that without getting buried in bureaucratic paperwork?
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The good news is that there is a process in place in France where foreign businesses can transfer their companies to France in an easy manner. Previously, business owners had to shut down their company in their original country first and then reopen it in France. But smoother business regulations in France have paved the way to allow businesses to just transfer their company over before shutting it down. This allows you to continue trading continuously without losing any money or time.
So to help those entrepreneurs who want to make the leap to France, here’s an easy breakdown of the process of transferring a business to France.
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First of all, you need to register your company in France. You keep your company’s identity and name but unlike a new registration you also keep the starting date of your company so the age of your company doesn’t change. You also keep your share capital and assets but you transfer the accounts and activity. (So you’ll need to find an English-speaking accountant in France to help manage your accounts and make sure you’re in-line with all the current French tax legislation.) To make things easier, it’s always best to make sure that all your paperwork is in order from the start in order to provide all the documents of proof about the company you want to transfer.
You’ll also need to have special authorization from a judge from a French regional commercial court to transfer, and essentially re-register, your existing business to France. This can easily be done with the help of a company formation specialist who can also help you to open a business bank account which is also another important part of the process. (You can find more information on opening a business bank account in France by visiting our blog post on the subject below.)
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When all of this is done, the court in France will accept your registration. Then you have 28 days to terminate and close the company in its country of origin. After that has been done you have to send the proof of this to the judge. Finally, you have to register the company to the French tax office. All of this might seem like a lengthy and complex process but it is easily doable with the help of a company formation specialist.
So if you’re ready to take the next step in transferring your company to France or for more information on finding an English-speaking accountant, opening a business bank account in France or finding a tax specialist, just call us on 0033 (0) 1 53 57 49 10 or write to us through our contact page. We’ll be happy to answer any questions you have.
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