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  • 5 Things You Need to Know About Opening a Business in France

    France stability makes it a very promising country for investors as well as people who want to start their companies from scratch.

    Some notable companies have their origin from France but have since made their way to the international market and perform well, for instance, Louis Vuitton.

    Some of the advantages of starting a business in France is the favourable tax rates,  the huge investment market, the labour market and the stable economy.

    France has well-established business regulations that help in standardizing business operations.

    The market sector is open to foreigners as well as native citizens. Nonetheless is not just easy to start a business as a foreigner because there are some steps you need to take.

    In this article, I shall give you all the insides you need to know about successfully set up a business in France as a foreigner. Let’s Begin;

    1.  Residence permit

    The first step to setting up your business in France is to ensure you have the necessary permits which include the residence permit or for persons from the EU, you should have valid citizenship.

    The residence permit can either be a temporary or permanent period for temporary residence, the permit should be valid at the time of setting up the business as well as during the cause of the business.

    2.  Financial plans/  funding

    No business can operate without capital and it is therefore important that before you register your business you have a source of reliable capital.

    Some companies offer credit auto loan services to startups in France. Because it may not necessarily be aware of all of them and their work policy you must take some time and go through reviews before deciding what company to sign up a contract of loan services with.

    A website like Amon Avis provides you with all the customers you need to know about financial services in France. In case you’re looking for credit services you may start by looking at some reviews about Younited credit. 

    Reviews will help you pick the best financial partner throughout your business endeavours.

    3.  Choose your business legal structure

    Technically there are two types of acceptable business legal structures in France that is you are either a sole trader or company. The main reason for this is youthe taxation variants.

    The company can either be a limited liability company, a single person limited liability company, or a private limited liability company.

    4.  Register your business

    Where you register your business will depend on the category in which a business falls.

    For instance, if you want to register a pharmaceutical business they are some further requirements provided by the registration organisation that you may have to comply with.

    All the necessary application documents are to be submitted to the specific body That is the business registration centres.

    Some of the most important documents that you must accompany for your registration includes;

    The business name – The business must not be identical to another. (Confirm this before submission)

    Some of the things that you need to have included in your application is a valid identification card, evidence of your French-based address,  geographical location of your business,

    5.  What happens at registration

    Will be accorded with proof of business registration in form of a SIRET number and a NAF code.

    SIRET number will identify the locality of your business while the NAF code will identify the sort of activity or business your enterprise is engaged in.

    You will be expected to submit tax declarations.

    If your business or a company is entirely a foreign corporation then you may be exempted from taxation as long as  France has a double tax treaty with the other country.

    However, as long as your business is and tally located in France then you are obliged to be paying corporate tax.

    Another tax-related information must know is that if your business operates with the help of employees you are expected to deduct employees tax returns as well as pay for their social charges.

    I successfully registered company is expected to abide by the set business regulations and legislations.

    Conclusion:

    The guide mentioned above is an overall basis of what will be required when registering a business in France as a foreigner. For more details, you can visit official websites to get the exact requirements such as the fees charged for registration.