French Monetary and Financial Code
In forceI.- Credit institutions, finance companies, electronic money institutions, payment institutions, investment companies, portfolio management companies, undertakings for collective investment and the institutions and services mentioned in Article L. 518-1 are required to draw up monthly statistical declarations relating to settlements between residents and non-residents carried out in France and which exceed 12,500 euros, on the basis of the information communicated to them by the residents making or benefiting from these settlements.
II-Companies or groups of companies whose transactions with foreign countries, regardless of their nature or method, exceed, over the course of a calendar year, for at least one service or income item in the balance of payments, an amount set by order of the Minister for the Economy must declare each month directly to the Banque de France all their transactions with foreign countries or in France with non-residents. The list of services and income items in the balance of payments mentioned above is set by this order.
III - Residents who carry out transactions abroad directly, in particular from accounts opened abroad, or by offsetting claims and debts, must declare such transactions directly to the Banque de France each month when their total amount exceeds a threshold set by order of the Minister for the Economy.
