France client case studies
Registration of an Trading Company in France
- In 2016, one of our existing United States Clients requested our Firm to register their subsidiary in France;
- Such registration aimed at enabling our Client to invoice its French and European customers with a local entity, for the sales of its IT equipment products (USB sticks, data storage cards etc.).
- Our French Clients Engagement Department Director Mr. Simon Guidecoq recommended the registration of a simplified joint stock company, owned and managed by two USA citizens;
- While the appointment of a resident director is not legally necessary, we also suggested our Client to pay us for such services, as the appointment of a resident director or tax representative is frequently required by French banks;
- We also agreed the entity would have an issued capital of €5,000. In accordance with French laws, this amount had to be paid up by our Client before registration of the company with the French Commercial Registrar.
Corporate bank account opening
- Our Client had an existing relationship with HSBC USA and consequently wanted to open the capital account of the entity with the French branch of this bank;
- Healy Consultants Group PLC helped our Client to put in touch their USA relationship officer with the branch manager of HSBC agency on Champs Elysees;
- We also assisted our Client to supply all necessary documentation (often in French) for the completion of the capital account opening procedures.
France company formation
- After injection of the paid-up capital to the capital account, the French SAS was registered within two business days, with no specific request from the company registrar;
- We supplied our Client with company numbers and an extract of commercial records (locally known as the KBIS);
- Due to summer vacations in France, the tax and VAT registrations of the company took a bit longer than expected. After multiple follow-ups by our Firm with the French tax authority, we completed the same within three business weeks;
- Healy Consultants Group PLC then supplied a pro-forma invoice to our Client, enabling him to start trading with his French company.
We are proud of having assisted our Client to realize his business projects in France and we hope to be able to assist more customers form their company in France, thanks to the experience we gained during this project.