Section 3: Provisions specific to Saint Pierre and Miquelon

Articles in this section · 1

Article R772-2

French Monetary and Financial CodeIn force

Updated 5 Nov 2023

For the application of Chapters I and II of Title VI of Book V in Saint-Pierre-et-Miquelon:
1° References to Member States of the European Union and States party to the Agreement on the European Economic Area do not apply;
2° In article R. 561-5-1, 1° is replaced by the following provisions:
"1° By using an electronic means of identification certified or attested by the Agence nationale de la sécurité des systèmes d'information as complying with either the substantial or high guarantee level, or issued as part of an electronic information scheme whose guarantee level corresponds to either the substantial or high level, as qualified by locally applicable provisions equivalent to those implementing Regulation No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market ; "
3° In Article R. 561-5-2, the references to the Annex to Implementing Regulation (EU) 2015/1502 of 8 September 2015 and to Article 22 of Regulation (EU) No 910/2014 of 23 July 2014 are replaced by the locally applicable provisions equivalent to those implementing Regulation No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions within the internal market;
4° In Articles R. 561-8 and R. 561-15, the words: "or which is subject to disclosure requirements that comply with Union law" are deleted;
5° In Article R. 561-9, the words "in the Member States of the European Union" are replaced by the words "in mainland France";
6° In 3° of Article R. 561-15:
a) The first paragraph is replaced by the following:
"3° Public authorities or public bodies designated as such under any international commitment made by France, and which meet the following three criteria:";
b) The c is replaced by the following:
"c) They are subject to appropriate procedures for monitoring their activity;"
7° In article R. 561-16-2, the words: "acquirers within the meaning of Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015," are replaced by the words: "linked payment service providers that enter into a contract with a beneficiary with a view to accepting and processing payment transactions linked to a card that give rise to a transfer of funds to that beneficiary";
8° In Article R. 561-22-1, the words: "pursuant to Article 9 of Directive (EU) 2015/849 of 20 May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing" are deleted;
9° In Articles R. 562-3 and R. 562-6, references to European regulations on restrictive measures taken pursuant to Articles 75 or 215 of the Treaty on the Functioning of the European Union are replaced by references to the European regulations mentioned in Article L. 712-10.

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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