Chapter VIII: Offering of banking transactions to individuals resident in France by credit institutions having their registered office in a state that is on the list of states receiving official development assistance and that is not a party to the Agreement on the European Economic Area.

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Article L318-2

French Monetary and Financial CodeIn force

Updated 8 Nov 2023

In order to issue the authorisation provided for in Article L. 318-1, the Autorité de contrôle prudentiel et de résolution shall verify that the following conditions are met, within the time limits set by order of the Minister responsible for the economy:

1° The credit institution referred to in Article L. 318-1 is subject in the State in which it has its registered office to supervisory conditions equivalent to those existing in France;

2° An agreement has been concluded between the Autorité de contrôle prudentiel et de résolution and the competent authority of the State in which the credit institution has its registered office, in accordance with the provisions of article L. 632-13 ;

3° The banking operations offered are equivalent to those mentioned in Article L. 311-1 and which the institution mentioned in Article L. 318-1 offers to its customers in the State in which it has its registered office;

4° The credit institution referred to in Article L. 318-1 has entered into an agreement with a credit institution or finance company authorised in France or with a branch established in France of a credit institution having its registered office in a State that is a party to the Agreement on the European Economic Area or with a branch established in France of a credit institution having its registered office in a State that is not a party to the Agreement on the European Economic Area and that has entered into an agreement with France providing for an exchange of information in tax matters, in order to market banking transactions that it carries out in the State in which it has its registered office. An order issued by the Minister for the Economy specifies the stipulations to be included in the agreement between the institutions. In particular, it specifies the type of banking transactions that may be offered;

5° All banking transactions are carried out in the State in which the credit institution referred to in Article L. 318-1 has its registered office.

Mariela Petrova

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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

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

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