Guide to Starting a Business in France

8. Business Banking, Accounting & Insurance

  1. Banking
  2. Accounting
  3. Insurance

8.1. Business Banking in France

If you set up a separate company structure to run the business, you will be required to open a bank account in the name of business.

Indeed, even if you do not set up a separate company you are expected by the tax authorities and the banks to have a compte professionelle for your business.

Those who run the business as a micro-entreprise are not required to have a compte professionelle but they must have a separate bank account for all business transactions.

The charge for a compte professionelle varies enormously, and amongst the High Street banks they are often higher than is reasonable for a small business.

If you find this charge a burden then, as a start up, you may be able to get the local manager to temporarily waive the charge.

Another way to get round the charges that banks apply to business accounts is to establish two personal accounts (say, one in your sole name) and use only one for business use! You may still find there are charges, but they are generally less for personal accounts.

Alternatively (or as well) consider one of the offers on-line. Several are around including Revolut and Wise.

In terms of payments, all bills in excess of €3,000 (€1,100 for those in the retail trade) must be settled by cheque, credit card or virement. Salary payments can be made in cash up to €1,500 per month. Deposit payments in cash are subject to an upper limit of €460.

Information on loan finance from banks is included on our pages on Financial Assistance.

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