FRANCE: AMF announces simplification of the financial companies registration process

Thursday September 29 2016

The French Securities Regulator, the AMF (L’Autorité des marchés financiers), has announced that they are simplifying the process of registering financial companies in the context of the UK decision to leave the European Union.

French officials will now accept legal documents written in English from EU-registered groups seeking to move to France. They will also provide an English-speaking official to handle new applications.

UK financial companies will also be able to secure “pre-authorisation” for a move to France within a 2 week period. The AMF stressed the “freedom to provide services” across the EU that will be afforded to UK groups that move to France.

The new rules follow a previous announcement of generous tax breaks for foreign executives. They will benefit from an income tax break of up to 50% and the right to exclude foreign assets from the wealth tax for a period of eight years.

Click on the above link for further details of the announcement (in French).