Chapter I: Miscellaneous goods intermediaries

Articles in this section · 5

L551-1L551-2L551-3L551-4L551-5

Article L551-1

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

Updated 7 Nov 2023

I. - An intermediary in various goods is

1° Any person who, directly or indirectly, by means of promotional communication or canvassing, offers on a regular basis to one or more clients or potential clients to subscribe to life annuities or to acquire rights over movable or immovable property where the purchasers do not manage the property themselves or where the contract offers them the option of repossession or exchange and the revaluation of the capital invested;

2° Any person who collects funds for this purpose;

3° Any person responsible for managing the said assets.

II. - Any person who offers one or more clients or potential clients the opportunity to acquire rights to one or more assets by promoting the possibility of a direct or indirect financial return or similar economic effect is also an intermediary in miscellaneous assets.

III. - Communications of a promotional nature relating to the proposals mentioned in I and II addressed to customers or potential customers :

1° Are clearly identifiable as such ;

2° Are accurate, clear and not misleading ;

3° Provide a reasonable understanding of the risks associated with the investment.

IV. - Without prejudice to the powers of the administrative authority responsible for competition and consumer affairs, the Autorité des marchés financiers may request any documents, in any medium, in order to ensure that the proposals referred to in I and II of this article comply with the provisions of this Title.

V. - The persons referred to in I of this Article are subject to Articles L. 551-2, L. 551-3, L. 551-4, L. 551-5 and L. 573-8 of this Code.

The persons mentioned in II of this article are subject to article L. 551-3.

VI. - This Title does not apply to proposals relating to :

1° Banking transactions ;

2° Financial instruments and shares

3° Operations governed by the Insurance Code, the Mutual Insurance Code and the Social Security Code;

4° The acquisition of rights to housing and premises for commercial or professional use or land intended for the construction of such housing or premises.

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 L54-10-5Next articleArticle L551-2
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