[ESTABLISHING A BUSINESS ENTITY IN FRANCE] 205
registration fee.
ACCOUNTING AND FINANCIAL INFORMATION
Accounting and financial information
balance sheet, profit and loss account and annex
• balance sheet, profit and loss account and annex • management report • inventory • •
balance sheet, profit and loss account and annex
the foreign company which has a French branch must file a copy of its foreign accounting documents (which have been drawn up, audited, and published in the state in which it is located), each year with the registry of the commercial court in France, The filed documents must be translated into French and certified by the depositors
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management report
management report
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Losses
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net equity cannot be less than half the value of the share capital
• net equity cannot be less than half the value of the share capital •
net equity cannot be less than half the value of the share capital
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STATUTORY AUDITORS
Statutory auditor
General harmonized thresholds for commercial companies A statutory auditor must be appointed if at least two of the following thresholds are exceeded at the end of the financial year: - total balance sheet of at least €4,000,000 - net turnover of at least €8,000,000 - at least 50 employees In corporate groups, each subsidiary that individually exceeds the above thresholds is also required to appoint a statutory auditor. “Small Groups” ( i.e., whose parent company is not required to prepare consolidated financial statements): • A parent company controlling a Small Group that exceeds, as a whole, the above thresholds must appoint a statutory auditor; unless if this parent company is itself controlled by a company that has appointed a statutory auditor. • Subsidiaries of Small Groups are also required to appoint a statutory auditor if at least two of the following thresholds are exceeded at the end of the financial year (“ Significant Subsidiaries ”): o total balance sheet of at least €2,000,000 o net turnover of at least €4,000,000 o at least 25 employees A company that appoints an auditor (i) on a voluntary or (ii) on a mandatory basis in the case of Significant Subsidiaries of Small Groups, may decide that the auditor will carry out the specific legal audit for small businesses (its tasks and duration of office will be limited). In all cases where a statutory auditor must be appointed and if it is a natural person or a single shareholder company, a deputy statutory auditor is also required.
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ILN Corporate Group – Establishing a Business Entity Series
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