For all entrepreneurs, the end-of-year finalising of accounts can be a large task. But did you know that it is mandatory in France to file your accounts and hold a general meeting of the company – called a General Assembly - to approve the accounts and validate them?
The approval of accounts is an integral part of owning a French company which is regulated by French business law. And as well as doing your annual accounts and holding the General Assembly of approval, the paperwork for both of these has to be filed with your local the Registry of the Commercial Court.
General Assembly Rules
You must hold the General Assembly within six months of the end of the previous financial year. So if you close your accounts on December 31, the meeting must be held before the end of June of the following year. This general meeting is an opportunity for the partners to keep each other informed of the financial health of the company and also to be able to discuss the accounts and the various actions to be taken such as the distribution of dividends or other financial matters.
Filing of Accounts
In order to file your accounts with the Commercial Court, you need a copy of the minutes of the General Assembly and a copy of your corporate accounts. The filing is, in general, made to the registry in the month following the holding of the general meeting.
In order to make your life easier and make sure your company to complies with French rules, we can take care of the drafting of the general meeting for the approval of the accounts as well as the filing with the registry for a reduced cost.
We are able to take you through the process from A to Z with our French legal and accounting experts for an all-inclusive admin fee of €349 excluding tax. If you need further information on how to navigate the French business system, please call our bilingual team on 0033 (0) 1 53 57 49 10 or email us through the contact page. You can also download the free guide below which gives you all the details on company formation, tax and accounting, how to open a business bank account and register a business address in France.