Financial license in the France

LICENSING IN FRANCE

The French economy ranks seventh in the world, and Paris is known as the largest financial center of the European Union. This country is closely integrated into the world economy and is open to foreign investors. Therefore, many companies seek to open a business in France, especially in the financial sphere. However, in order to carry out such financial activities, it is required to obtain a license.

TYPES OF LICENSE

There are several types of licenses in France, depending on the kind of business:

for provision of investment services;
for provision of loans;
for provision of payment services.

Licenses for provision of loans are issued by European Central Bank (ECB), while permissions (licenses) for provision of investment and payment services are issued by the French Prudential Supervision and Resolution Authority (ACPR). To carry out financial activities in France from other countries of the European Union, it is necessary to notify the Financial Markets Authority (AMF) or ACPR.

REQUIRED DOCUMENTS

To engage in financial activities, it is necessary to obtain a permit to operate as a:

credit firm;
financial institution (for granting loans);
payment structure (for the provision of payment services);
investment company (for the provision of investment services);
electronic money institution (for issuing and managing electronic money);
managing organization (for managing investment funds and portfolios of third parties).

To obtain a license, it is required to submit documents that contain information about:

the business plan;
the management of the company;
the administration (including operating system, financial and technical resources);
the compliance with the capital requirements (depending on the activity);
the capital structure.

The duration of the application review depends on the planned activity:

6–12 months — for electronic money institutions and payment companies;
6–18 months — for credit and financial institutions.

Contact COREDO for more information regarding obtaining a license in France. We will answer all your questions and help you get a license as soon as possible. Our specialists can seamlessly achieve a positive result thanks to extensive knowledge in the field of law and long-standing practical experience.

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OBTAINING A FINANCIAL LICENSE IN FRANCE

LICENSING IN FRANCE

TYPES OF LICENSE

REQUIRED DOCUMENTS