France has 65 million inhabitants, is located in Western Europe and is a former major colonial power (it has retained a few former colonies as enclaves). It faces the Atlantic Ocean and its influence extends beyond its borders. For several centuries, French culture and values have left their mark on the global landscape (the Age of Enlightenment, revolution, democracy, human rights, etc.). France is one of the founding countries of the European Union and the fifth largest economic and political power in the world.
An onshore haven
France is one of the countries with the highest tax in the world, driving people to hunt for tax havens. However, the country has some solutions which enable a reduction of taxation on companies and individuals. Tax loopholes are available, such as art, a sector not subject to wealth tax. This system allows a tax optimization. It is also possible to invest in the French overseas territories to benefit from tax benefits.
In France, overall taxation lies between 60% and 70%, depending on the entrepreneur’s situation.
The various types of companies
The creation of a company in France requires 5 procedures and 7 days.
|Types of companies||Capital||Number of partners|
|Individual entrepreneur||No capital||1 person, responsibility for personal assets|
|Limited liability company (SARL)||1 EUR minimum||Up to 100 partners, limited liability|
|Sole trader with limited liability (EURL)||1 EUR minimum||1 person, limited liability|
|Public limited company (SA)||EUR 225 000 minimum if public share issue is made, otherwise EUR 37 000||at least 7 shareholders, limited liability|
|Company Limited by shares (SAS)||1 EUR minimum||2 people minimum, limited liability|
|Company Limited by shares under sole ownership (SASU)||No minimum capital||1 people minimum, limited liability|
|General partnership (SNC)||No minimum capital||at least 2 partners, unlimited liability|
|Company limited by shares||No minimum capital||Active or sleeping partners, unlimited liability for the active partners, limited for the sleeping partners|
|Non-commercial association||No minimum capital||at least 2 partners, liability for company debts|