2017 brought France one of the top positions in terms of innovation at global level. Innovation has made its way in most of the French industry, however the financial one benefited the most from it. Universities and companies have invested in courses, respectively trainings which have transformed the workforce into one of the most advanced labor forces in terms of digital competences in the European Union.
As mentioned above, state-of-the-art technology is mostly used in the financial sector in France. Shortly known as fintech, this sector attracts a great number of foreign investors in France. Our company formation consultants in France can assist with the registration of a fintech business.
First of all, investors interested in starting a fintech company in France must consider the legal requirements related to the registration of the business. Then, a financial company must undergo authorization from the National Bank or the Financial Market Authority before starting operating.
Considering most French financial technology companies are startups, the amount of money required to start such venture is not little. The good news is France has many crowd funding platforms through which fintech startups can raise that money.
Apart from these, you can rely on our company registration consultants in France for incorporating the company with the Trade Register.
The financial industry is currently the most developed economic sector in France and accounts for more than 4% of the country’s Gross Domestic Product (GDP). France is also one of the most advanced countries in Europe using online banking services through solutions offered by fintech companies.
The fintech industry is mainly made up of companies providing electronic payment solutions, creating cryptocurrencies and supplying robo-advisory services.
At the beginning of 2017, Paris hosted a few events for the promotion of fintech. Paris is also home to the largest innovation center in the world.
Foreign investors who want to open a new company in France can take a look at how developed the fintech sector is. For assistance with the French company formation procedure, please contact us.