Subsection 1: Approval

Articles in this section · 16

L511-9L511-10L511-11L511-12-1L511-12-2L511-13L511-13-1L511-13-2L511-14L511-15L511-15-1L511-16L511-17L511-18L511-19L511-20

Article L511-15-1

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

Updated 7 Nov 2023

A finance company's authorisation may be withdrawn by the Autorité de contrôle prudentiel et de résolution at the company's request.

It may also be decided ex officio by the Autorité in the following cases:

1° The company has obtained authorisation by making false declarations or by any other irregular means ;

2° The company no longer meets the prudential requirements set out in Part Three, Part Four or Part Six of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013, with the exception of the requirements set out in its Articles 92a and 92b ;

3° The company does not comply with the additional capital requirements imposed in accordance with II of Article L. 511-41-3 ;

4° The company no longer fulfils the conditions or undertakings to which its authorisation or subsequent authorisation was subject or no longer offers the guarantee of being able to fulfil its obligations to its creditors and, in particular, no longer ensures the security of the funds entrusted to it by its depositors;

5° The company has not made use of its authorisation within twelve months or if it has not been in business for at least six months.

The Autorité de contrôle prudentiel et de résolution automatically withdraws the authorisation of a finance company if its registered office or central administration is transferred outside France.

Withdrawal of authorisation takes effect on expiry of a period determined by the Autorité de contrôle prudentiel et de résolution.

During this period :

1. The finance company remains subject to supervision by the Autorité de contrôle prudentiel et de résolution. The Autorité de contrôle prudentiel et de résolution may impose the disciplinary sanctions provided for in Articles L. 612-39 or L. 612-40, including deregistration.

2. The finance company may only carry out the credit transactions for which it is authorised and must limit the other activities mentioned in II of article L. 311-2 and articles L. 511-2 and L. 511-3.

3. The company may only refer to its status as a finance company by specifying that its authorisation is in the process of being withdrawn.

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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