Subsection 2: Freedom of establishment and freedom to provide services within the territory of States party to the Agreement on the European Economic Area

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L511-21L511-22L511-23L511-24L511-25L511-26L511-27L511-28

Article L511-27

French Monetary and Financial CodeIn force
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Updated 7 Nov 2023

I. - Any credit institution having its registered office in France and wishing to establish a branch in another Member State shall notify the Autorité de contrôle prudentiel et de résolution of its plans, together with information of a nature to be determined by the Minister responsible for the economy.

If the branch is not a major credit institution and if the Autorité de contrôle prudentiel et de résolution has no reason to doubt the adequacy of the administrative structures or the financial situation of the credit institution in the light of the plan, it shall, within three months of receiving the information in a proper manner, forward it to the competent authority of the host Member State and notify the institution concerned.

Where the Autorité de contrôle prudentiel et de résolution refuses to communicate the information referred to in the previous paragraph to the competent authority of the host Member State, it shall inform the institution concerned of the reasons for its refusal within three months of regular receipt of that information.

Where the Member State in which the credit institution intends to establish a branch is a participating Member State, the three-month period referred to in the previous two paragraphs is reduced to two months.

II. - Credit institutions with their registered office in France wishing to carry out their activities for the first time in the territory of another Member State under the freedom to provide services are required to make a declaration to the Autorité de contrôle prudentiel et de résolution. This declaration must be accompanied by information of a nature determined by the Minister responsible for the economy.

III. - An order of the Minister responsible for the economy shall determine, on the one hand, the information that must be communicated to the Autorité de contrôle prudentiel et de résolution prior to a change in the situation of the institution and, on the other hand, the conditions under which this information, as well as that mentioned in I and II, is communicated to the competent authority of the host Member State.

Mariela Petrova

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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

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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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