- Category: Banking
Business bank accounts in France
Is it mandatory to have a separate bank account for your business in France? In most cases, then yes, it is necessary. There are a few situations where you are exempted from it, but even then, opening a dedicated account for your business is heavily advised.
Situations where it is mandatory:
If you’re opening a company, which requires share capital, then you will have to open a separate bank account when creating your company. Indeed, in these cases, it’s necessary for shareholders to contribute a certain amount of share capital to your company before the company can be registered. If you don’t open a separate bank account for that, the bank won’t be able to give you a certificate of deposit, so your company will never be opened.
Technically, you can close your account afterwards, but that would be a terrible idea! If your share capital gets mixed with other financial operations, it could end up being defined as wages by the tax administration, which would cause you a lot of trouble.
Situations where it is not mandatory:
If you’re running a sole proprietorship, then you technically don’t have to open a separate account. But, again, opening one is still heavily advised.
If you want to know more about that, here is why you should open a bank account for your business in France.