France Corporation – Dormant Company Ownership
In France, corporation of a foreign business delivers many benefits, and one of the most attractive ways to get your feet wet in the European company formation pool is with a dormant French Company. Listed as dormant because there is no physical presence, this is a very attractive way to develop a brand specialization, business name or trademark in France at the simplest form of business entity, and at the lowest cost.
Most people are under the assumption that France corporation is a very costly, time-consuming undertaking. The truth is, if you employ trusted local officials who reside in the city where the filing must be registered, the process can be handled quickly and efficiently, sometimes with a 48 hour turnaround. Annual declaration of earnings is not required, and you don’t need to open a bank account.
But probably the most attractive two characteristics of France corporation in a dormant company form is the capitalization requirement and tax status. To open a dormant company, France requires a token 1 euro share capital. Also, your company will not be registered with the Value Added Tax office, so tax status is very attractive as well.
There are however, as in any business filing, certain procedures and steps that must be followed to qualify for this especially attractive France corporation licensing. Dealing with a European company formation specialist who employs local French professionals familiar with this and other types of foreign business formations is imperative for proper filing.
This is an excellent way to buy a French domain name and set up a website that captures the cache and allure of France without having the expense of setting up a branch office there. Since the minimum number of directors and shareholders is one, and they can be the same person, you need no more than yourself and the money required to pay for the filing, and you own a France corporation.
With proof of residence by showing two utilities that are less than three months old and providing a copy of your passport, you can become a overseas investor with a French business registration. This is a form of business known as Société à Responsabilité Limitée in France corporation jargon, or SaRL, and does require approval by the French government. A clean criminal record check of at least three months is all that is required, and any translation needed can be handled at the French consulate of the country where you reside.
Opening a European corporation need not be expensive or time-consuming, but must be handled properly. Talk with a foreign business formation specialist with local French business professionals on the payroll, and your France corporation will be an efficient, cost-effective reality in no time.