You are an entrepreneur based outside France and you are considering setting up your company there. First piece of good news: no legal provision prevents it. French nationality is not required to incorporate a SASU, a SAS or a SARL. What matters is choosing the structure suited to your situation, anticipating the practical hurdles that generalist guides leave unsaid, and structuring your file so as to avoid blockages.
This article is written for foreign entrepreneurs — based in Africa, Asia, North America or elsewhere — who want to understand the legal framework before getting started. It draws on the matters handled by my firm for founders from Chad, Senegal, China, the United States and India.
Which corporate structure to choose?
Three structures cover the vast majority of entrepreneurial projects: the SASU for a sole shareholder, the SAS for several shareholders, and the SARL for more traditional setups.
The SASU — simplicity and flexibility
This is the structure most commonly used by sole foreign founders. The SASU is formed with a single shareholder, whether a natural or legal person, resident or non-resident. The chairperson may be a non-resident foreign national without needing a French residence permit to run the company from abroad. The situation differs if the chairperson wishes to physically settle in France to run the business — that is the purpose of the Talent Passport for company founders.
Advantages: fully customizable bylaws, dividends not subject to social security contributions, smooth conversion to a SAS without onerous formalities once a second shareholder joins.
Drawbacks: contractual freedom means everything must be specified in the bylaws (which is why an attorney is needed), and the chairperson has no social security cover if unpaid.
The SAS — the format for multi-partner projects
Structure essentially identical to the SASU but with several shareholders. Today, the standard for co-founded projects or those intended to welcome investors. The shareholders’ agreement plays a central role: it organizes governance, exit rights, anti-dilution clauses and pre-emption rights.
Practitioner’s recommendation: never set up a SAS with several shareholders without a shareholders’ agreement. The absence of such an agreement is the most costly mistake I encounter in shareholder disputes.
The SARL — the traditional framework
A structure tightly regulated by the French Commercial Code. More rigid than the SAS, but also more protective by virtue of its legally prescribed rules of organization.
Specific advantage: the majority manager falls under the self-employed (TNS) social security regime, with social contributions significantly lower than those of a SAS chairperson (treated as an employee for social security purposes).
Drawback: share transfers are subject to shareholder approval, share capital is less flexible, and the structure is less suited to fundraising.
Practical summary
You are on your own and intend to stay so: SASU.
You are several or you anticipate bringing in investors: SAS with a shareholders’ agreement.
You want to draw a salary from day one while optimizing your contributions: SARL with majority management.
What does it cost, how long does it take?
Share capital: no statutory minimum for SASU, SAS or SARL. Incorporation is technically possible with €1, but not advisable. A capital of €1,000 to €5,000 gives immediate banking and commercial credibility. For a project aiming at the Talent Passport, plan for a minimum of €30,000 (a regulatory condition).
Incompressible 2026 incorporation costs: approximately €200 (court registry, legal notice publication, INPI).
For an entrepreneur already in France
Attorney’s fees: between €1,200 and €2,500 (excl. tax) for a full file including bylaws, shareholders’ agreement where applicable, CARPA capital deposit and administrative support.
Realistic timeline: 2 to 4 weeks between signature of the bylaws and issuance of the Kbis (the French commercial registration certificate), provided all documents have been prepared in advance.
Depositing capital with a French bank is possible but requires booking an appointment with the institution well in advance.
For an entrepreneur seeking the Talent Passport
Attorney’s fees: variable depending on the complexity of the matter. The firm bills from €5,000 excl. tax for a full file including bylaws, shareholders’ agreement where applicable, CARPA capital deposit and administrative support through to issuance of the residence permit.
The billing structure is staged and conditional on the actual progress of the file. A non-refundable initial retainer is paid on signature of the fee agreement, covering the structuring phase (bylaws, business plan, full file) and submission to the regional employment directorate (DRIEETS). A second tranche is paid only upon receipt of a favorable opinion from the DRIEETS. A third tranche is paid upon effective issuance of the visa. This sequencing protects the client: the bulk of the fees is due only as administrative milestones are actually reached.
Realistic timeline: count on 4 to 8 weeks on average for the DRIEETS opinion, then a variable consular processing time for the visa (from several weeks to several months depending on the country of residence). The CARPA deposit and the final opening of the company’s bank account take place at specific points in this chain, which cannot be reversed without risking rejection of the file.
Proof of capital deposit: a pivotal step
For any project aiming at the Talent Passport for company founders, the proof of actual deposit of €30,000 is a pivotal step. It is doubly decisive: on the one hand, it conditions the favorable opinion of the DRIEETS on the genuine and serious nature of the project; on the other, it is in itself one of the strongest signals of the project’s seriousness in the eyes of all the administrations that will subsequently be involved (consulate and then préfecture).
Without this formal and enforceable proof, the file does not hold up — regardless of the quality of the business plan.
The practical obstacle: the banking chain
Here is what online incorporation websites leave unsaid: to release the share capital by the classic route, a bank account must be opened in the name of the company in formation. And to open this account, almost all French banks require a physical meeting with the legal representative and proof of residence in France.
Practical consequence: if you are in N’Djamena, Lagos or New Delhi, the process stalls right here, before the bylaws are even signed. And even when an account can be opened, the bank’s processing time delays the entire schedule — sometimes by several months.
Even more serious for a Talent Passport file: a foreign banking certificate, no matter how solid, does not satisfy the French administrative requirement. Proof of deposit must come from a source recognized in France. It is precisely on this point that many otherwise serious files are rejected.
The solution: depositing on the CARPA account
French attorneys are authorized to receive funds intended for share capital on their professional CARPA account (the autonomous escrow account of French attorneys). Notaries can also do this.
Mechanism: you wire the capital amount from your foreign account to the attorney’s CARPA account. The attorney issues a certificate of deposit, which constitutes official proof recognized by the French administration. This certificate is produced at every step of the procedure: DRIEETS, consulate, préfecture, court registry. Once the Kbis is issued, opening the company’s bank account becomes significantly easier, and the funds are transferred to it from the CARPA account.
Advantages: no need to travel to France before incorporation, no scramble between banks, full legal certainty, complete fund traceability and — what makes the difference on a Talent Passport file — enforceable proof that the administration cannot disregard.
Registered office: domiciliation or office space?
Every French company must have a registered office in France. Three options.
Business domiciliation: €30 to €50 per month, a prestige address (the 8th arrondissement of Paris, for example), mail reception, supporting document provided. This is the right choice when starting out.
Coworking office: €200 to €500 per month, registered address and physical access to the workspace.
Commercial lease: €1,000 per month and above, with long-term commitment (the classic French 3-6-9 lease). To consider once the business is established.
The RBE — Register of Beneficial Owners
Since 2017, every French company must declare the identity of the natural persons who directly or indirectly hold more than 25% of the capital or voting rights, or who exercise control over the company. For a sole foreign founder, the beneficial owner is the founder.
Common pitfalls: outright omission of the RBE filing (criminal penalties and disqualification), non-compliant translation of identity documents, failure to update after share transfers.
The procedure, step by step
- Choice of structure and drafting of bylaws (preferably by an attorney)
- Reservation of the company name (INPI clearance check)
- Registered office and proof of address
- Deposit of capital on the CARPA account
- Publication of the legal notice in an authorized journal
- Filing of the file at the INPI one-stop shop
- Issuance of the Kbis
- Opening of the final bank account and transfer of funds from CARPA
- Filing of the RBE declaration
- Setup of URSSAF, DSN and initial social and tax obligations
And after incorporation?
A French company lives with annual obligations: maintenance of regular accounting in French and in euros, approval of annual accounts by the shareholders’ meeting, filing of accounts with the court registry, monthly or quarterly tax and social security filings, and updating of the RBE in the event of any change.
Many foreign founders choose a French chartered accountant from the time of incorporation. This is strongly recommended: a filing error almost always costs more than the accountant’s fees.
In summary
Setting up a company in France as a foreign national is by no means impossible. It is a procedure fully structured by French law, provided that three pitfalls are avoided: choosing the wrong structure for poorly understood tax reasons, hitting the banking wall for lack of a French account, or omitting the RBE.
My firm regularly assists foreign founders from Paris. If you are considering a project, feel free to book an initial consultation — complimentary 30 minutes for any business project.
Frequently asked questions
Can a non-resident foreign national act as chairperson of a French company?
Yes, without any condition of nationality or residence. The chairperson of a SASU or SAS may be a non-resident foreign national. They will need to provide proof of identity, proof of address (French or foreign) and a sworn statement of no criminal record.
Is a visa required to set up a company in France?
No, not for incorporation itself: everything can be done remotely. Yes, however, to settle in France and run the business there as a director. The Talent Passport for company founders is the principal route in that case.
What minimum share capital should be set aside?
The legal minimum is €1. In practice, a capital of €1,000 to €5,000 provides immediate banking and commercial credibility. For a project aiming at the Talent Passport, plan for a minimum of €30,000.