Corporate account opening problems in France

Corporate account opening problems in France

A business license is a license issued by a government authority that allows companies or individuals to operate a business within a specific country’s government’s power. The license is issued by the local government and it is an approval to start business.

There is something that you would need to do first before you open a corporate account in France. But before that here are some interesting facts about France from a business perspective.

France is located in Western Europe and is one of the largest economies there beside Germany and the United Kingdom (UK). It is bordered with six other countries namely Belgium, Germany, Luxembourg, Spain, Italy and Switzerland.

As at June 2016, the population of France stood at 66 million people. Paris is the capital city of France with other major cities being Lyon, Marseilles, Bordeaux, Lille, Nice and Toulouse and visa in France

France is also an economic power in the European Union (EU). It recorded a Gross Domestic Product of EUR2.42 trillion while GDP per capita was at EUR42,000 in 2016.

Steps to open a corporate bank account

Problems with opening a bank account

As easy as it may seem on paper, you may face corporate account opening problems in France. Below are some of them –

You would also need to provide background of the directors including education, a copy of their passports and their resumes.

Although there seems to be a lot of challenges in opening a corporate bank account in France, the measures taken by the banks and the banking system in France is to protect the banks as well as to avoid any misuse of the banking system especially for money laundering or funding of terrorism.

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