Subsection 2: Permanent representative

Articles in this section · 1

D561-3-1

Article D561-3-1

French Monetary and Financial CodeIn force
Ask for lawyer reviewed or certified translation

Updated 5 Nov 2023

I.-The persons mentioned in 1° quater of Article L. 561-2 shall appoint a permanent representative when one of the following conditions is met:

1° They have recourse on national territory to a number of agents mentioned in Article L. 523-1 or persons mentioned in Article L. 525-8 equal to or greater than ten;

2° The cumulative volume of electronic money in circulation and redeemed or the cumulative value of payment transactions executed as part of services provided in France exceeded three million euros during the previous financial year or is expected to exceed three million euros during the current financial year;

3° They provide the service referred to in 6° of II of Article L. 314-1 ;

4° They distribute electronic money in France that can be used by means of a physical medium that can be loaded by any means other than a payment transaction initiated by a person who has been subject to identification and identity verification under the conditions set out in Articles R. 561-5 and R. 561-5-1.

The permanent representative resides in France. Its identity is communicated without delay to the Autorité de contrôle prudentiel et de résolution and to the department referred to in Article L. 561-23. If the permanent representative is a legal entity, the latter shall in turn appoint a responsible natural person.

II - The Secretary General of the Autorité de contrôle prudentiel et de résolution may require a person referred to in 1c of Article L. 561-2 to appoint the permanent representative referred to in Article D. 561-3-1 if one of the following two conditions is met:

1° This person has not provided the Autorité de contrôle prudentiel et de résolution with the information necessary to determine whether the conditions set out in 1° to 4° of Article D. 561-3-1 are met;

2° The Autorité de contrôle prudentiel et de résolution has reasonable grounds to believe that the activities carried out on national territory by the person referred to in 1°c of Article L. 561-2 present a high risk of money laundering and terrorist financing.

Mariela Petrova

Need help applying this article to your situation?

A registered French Lawyer explains what applies to your business — in English, fixed fee.

within 48h

Fixed Fee

Talk to a lawyer
Previous articleArticle R561-3-0Next articleArticle D561-4-1
Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

English · French · Russian

Ready When You Are

Talk To A Corporate
Lawyer In France.

A 20–30 minute call, in English, to scope the engagement. No obligation, no preliminary fee. You will leave the call with a clear view of what the work will cover and what it will cost.

Talk To A Corporate Lawyer+33 1 84 88 31 00
First EngagementFixed Fee

Talk to a French lawyer.

Reply within 24 hours.

Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

Continue Reading

Related corporate services in France

01 / Setup

Setting up a French company

Choose between SAS, SARL, SA or SCI — and structure your first French entity around how you actually plan to operate.

Read More
02 / Operating

French commercial contracts

Distribution, agency, supply, services and IP licences — drafted around the protections French law actually gives.

Read More
03 / Disputes

Business disputes & litigation

Shareholder conflicts, commercial breaches and pre-litigation strategy — handled by the same team that knows the file.

Read More