Section 2: Provisions applicable in French Polynesia and New Caledonia

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Article L771-7

French Consumer CodeIn force
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Updated 7 Nov 2023

As soon as a debtor refers a matter to the private individual overindebtedness commission set up by French Polynesia or New Caledonia, it shall inform the Overseas Issuing Institute mentioned in Article L. 721-25 of the Monetary and Financial Code. The latter informs the Banque de France for the purposes of registration in the file mentioned in Article L. 751-1 of this code.

When, upon appeal by the interested party against the decision of one of these commissions, a situation of overindebtedness is recognised by the court of first instance or when the debtor has benefited from the cancellation of debts resulting from the personal recovery procedure instituted by the provisions applicable locally, the court registry notifies this decision to the Institut d'émission d'outre-mer, which informs the Banque de France.

The file lists the conventional recovery plan measures instituted by the regulations of French Polynesia or New Caledonia for the treatment of overindebtedness situations of private individuals. These measures are communicated to the Banque de France by the Institut d'émission d'outre-mer. The registration is kept for the duration of the execution of the conventional plan, without being able to exceed five years.

The file also records, where applicable, the measures imposed or recommended by these commissions if its conciliation mission fails. These measures are communicated to the Banque de France by the Institut d'émission d'outre-mer or by the registry of the court of first instance when they are subject to approval by this court. The registration is kept for the duration of the execution of these measures, which may not exceed five years.

When the measures of the agreed plan or those imposed or recommended by one of these commissions set up in French Polynesia or New Caledonia are executed without incident, the information relating to the particulars that led to their declaration are deleted on expiry of a period of five years from the signing of the agreed plan or the date of the decision of the commission imposing measures or when the measures recommended by the commission have become enforceable.

When, for the same person, a conventional plan and measures imposed or recommended by these commissions are prescribed successively, the registration is maintained for the overall duration of the execution of the plan and measures without being able to exceed five years.

For persons who have benefited from the personal recovery procedure provided for by the legislation in force locally, the information relating to the corresponding entries is deleted on expiry of a period of five years from the date of approval or closure of the procedure, as provided for by the country law in force in French Polynesia or by the specific provisions applicable in New Caledonia and regulating the excessive indebtedness of private individuals.

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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