France, officially known as the French Republic is a popular transcontinental country boasting Western Europe and overseas territories and regions. It is spread from Atlantic Ocean to the Rhine, from the North Sea and the English Channel to the Mediterranean Sea. While, overseas territories of France include multiple islands in the Pacific, Atlantic, and Indian Oceans, and French Guiana.
France has been inhabited since the Palaeolithic era and was first settled by Gauls in the Iron Age. Rome occupied this area in 51 BC which led it to a unique Gallo-Roman Culture that laid the French Language’s foundation. However, France meets its military and political zenith in the early 19th century.
Despite a long history, France still retains its status as a global center of philosophy, science, and art for centuries. It is also boasting the 5th largest number of UNESCO world heritage sites. Moreover, France is also one of the leading and most attractive tourists’ destinations all around the world. It is receiving millions of visitors every year.
Even more, France is a developed country with the 7th largest economy in the world by nominal GDP. It is the 9th largest country in the world by PPP and also, ranked 4th in aggregate household wealth terms. Additionally, France is also maintaining well in terms of international for healthcare, human development, education, business, and life expectancy.
Even though, France is still the most visited country by tourists at present. However, France is still hoping to increase the number of tourists here. France has also described as the best-networked state worldwide in 2015. This is because the country is boasting a higher number of multi-lateral organizations as compared to other countries in the world.
Key benefits of an offshore company set up FRANCE
Before knowing about how to set up offshore company in France, let’s have a look at some of the key benefits that come up with offshore company formation in France. So, you can get to know why it is a suitable option for most of the people around the world.
- France can let you access a highly competitive, qualified, and skilled workforce. Even more, when you will combine this competitive workforce with advanced infrastructure, your offshore company formation in France will definitely get a boost.
- Most importantly, proficiency levels of English speaking are also increasing in France over the years. This can be an amazing way to reduce communication barriers when you are working with the French workforce. Ultimately, improving your company’s productivity would become easier.
- Even though taxes are a bit high in France as compared to various other offshore company formation jurisdictions. However, the sales income is also higher here which will impact the growth of your company positively in the best possible way.
- The French government is also offering low-cost insurance for trade credit to almost all the companies. So, you can also benefit from this here.
- Opening a corporate banking account in France is easier. You can complete the process quickly and start acquiring high-standard banking services here.
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Corporate banking solution for offshore company set up FRANCE
When it comes to how to set up offshore company in France, then finding the right corporate banking solutions here is one of the most important steps to consider. Fortunately, the corporate banking system in France is pretty mature and competitive as well.
4 well-known French corporations here are dominating the overall banking system in France which are also included in the list of 10 largest banking groups in Europe. Thankfully, both French personal and corporate banking services and products are of the highest standard. These also offer easier access to:
- Internet and telephone banking
- Credit and debit cards
- Simple wealth management services
- Multiple currencies
- Fixed-term deposit and other valuable services.
Most importantly, the French banking system is boasting the highest financial advisors per client rate among major European Union countries. This is enabling them to offer highly reactive and excellent customer service.
For anyone who is working for an offshore company set up France has to open a corporate bank account here to manage their financial transactions smoothly. However, if you are the one who is unable to understand the suitable corporate banking solution for an offshore company set up France can hire a consultant in this regard. This will help you to make the process a lot easier.
The renewal process of a offshore company set up FRANCE
With one shareholder and one director, you can complete the offshore company formation process in France within a few weeks only. France is an attractive place to consider for offshore company formation due to the large consumer market. If you can meet all the requirements here, the offshore company set up France can be a good source to support your business.
You need to get your offshore company registered in France to start corporate operations here. The registration has to be renewed annually by filing an application and paying off the renewal fees here. It is always important to complete the annual renewal process of the offshore company set up France to keep its legal status and operations running smoothly.
Perks of an offshore company set up France as a tax haven
Whenever it is about to know how to set up offshore company in France, most of the people out there think that France is a high tax country. France isn’t that high tax country that most of people think. The real problem with the French system is its complexity, not the tax system.
Instead, some points can make France a tax-friendly country especially for the ones who are looking for offshore company formation in France. Wealth tax is a stumbling block for French people. However, it doesn’t apply to everyone. Instead, affects only the ones having above €1.3million worth of estate worldwide.
Along with that tax foncière and taxe d’habitation has also risen significantly in France which is impacting the attractiveness of offshore company set up France as well. Besides this, the plethora of offsets and allowances, and parts systems also make offshore company set up France easier.