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Establish a Cryptocurrency Company in France
Updated on Monday 11th July 2022 Rate this article
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Cryptocurrency in France is regulated since 2014, and those who want to start cryptocurrency businesses in France can do so in a well-regulated environment which provides for the operation, taxation and exchange of digital money. Our company formation consultants in France can offer information about how to open a cryptocurrency company in France. They can also help you obtain the crypto exchange license in France.How to register a cryptocurrency business in France
Establishing a French cryptocurrency company does not imply any special process; therefore, the company registration process will be carried out the same as for any other type of financial company. Also, there are no special licenses to be obtained when opening this type of company.
Our company registration agents in France can guide you through the registration procedure of a cryptocurrency business.
Regulations related to the cryptocurrency sector in France
Those who want to open a cryptocurrency company in France should know the government is planning to adopt new measures which allow for the adoption of digital money, such as the Bitcoin. For this purpose, the National Bank of France also installed cryptocurrency ATMs.
Until now, cryptocurrencies were used to trade mainly on e-commerce platforms. The current regulations also provide for the following:
- • the existence of a cryptocurrency market;
- • digital monies are subject to the capital gains tax;
- • transactions with cryptocurrencies must be transparent.
Getting the crypto exchange license in France
Autorite des Marches Financiers or AMF is the authority that issues crypto exchange license in France for those who want to do business in this financial sector. There are a number of rules and formalities that must be considered in order to obtain a crypto exchange license in France. We present some of these:
- • You must register a legal entity in France. The most recommended structure is SARL, the variant for limited liability companies.
- • Pre-applying for a crypto exchange license in France is the next step. This validates the business you want to open.
- • AMF requires concrete and solid business plan to open a cryptocurrency company in France and obtain the necessary license. It must include details about the business, the platforms or the type of software to be used, the technical solutions, etc.
- • The company is also required to have employees with experience in the cryptocurrency business.
- • Authorities may request additional interviews before a crypto exchange license in France is issued. You can discuss these issues with our French local agents.
- • It is necessary to develop a set of internal regulations, which must include the internal risks of the business.
- • You must comply with anti-money laundering legislation in France before opening a cryptocurrency company in France.
- So, these are some of the formalities related to crypto exchange license in France. If you want to apply for this type of license, we advise you to get in touch with our specialists. They will help you with drafting documents and other important legal issues.
Other requirements for cryptocurrency company in France
Another important aspect of opening a virtual currency business in France is the AML (anti-money laundering) officer. He/she is in charge of implementing this important set of laws and represents a condition to open a cryptocurrency company in France.
Also, when preparing documents for setting up a cryptocurrency company in France, you need to translate them into French. We remind you that you can rely on the help of our local agents in France.
Is a crypto exchange license in France mandatory to serve only customers in France?
No! The authorities intend to implement the mandatory conditions for any stock exchange around the world to operate in France under a French license. This is still under debate. You can find out more about this topic from one of our company training agents in France.
Investing in France
France is one of the strongest economies in the world and is a popular business destination. How business conditions and political stability are essential for foreign investors. France offers them the necessary protection and security for development. Here are some statistics about cryptocurrency in France:
- More than 2.1 million French people use cryptocurrency, according to data for 2021.
- About 15% represent the percentage of young people aged between 15 and 24 who own virtual currency in France.
- The same percentage of 15% goes to those aged between 25 and 34, who hold cryptocurrency in France.
- 21% of French people with higher education use cryptocurrency transactions in France.
- About 59% of cryptocurrency holders in France use virtual currency to make various purchases.
Foreign entrepreneurs interested in investing in the fintech industry are welcome to open a cryptocurrency company in France. If you need assistance with the company registration process, please contact our French representatives.
Meet us in Paris
Call us now at +33 9 73 22 01 51 to set up an appointment with our lawyers in Paris, France. Alternatively you can incorporate your company without traveling to France.
As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in France.
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