The obligation to file UBO information with the French trade register

15 November 2017

UBO FILING

Further to the European Directive in this matter, French law provides for the obligation to file information about the ultimate beneficial owner(s) (UBO) of French companies with the trade register (RCS).

Any individual holding directly or indirectly more than 25% of the share capital of the French company, is considered being UBO.

Timelines:

  • At setting up of a new company (or at the latest within 15 days).
  • At any modification.
  • Before April 1st, 2018 for all (other) existing companies.

Please find attached the formula as well as an English translation/explanation of the form for your information.
The English version is not to be filled in; only the French form should.be filled in with the details of the UBO and signed by the legal representative of the French company.

  • If several individuals hold more than 25% please use one sheet per person.
  • If the shares in the French company are not directly held by individuals please provide also a group organization chart.
  • If no individual holds directly or indirectly more than 25%, the details of the legal representative of the French company have to be filled in. If the legal representative in its turn is a company, the individual(s) representing (indirectly) this company have to be filled in.

These data are annexed in a specific register of the RCS and are accessible for the authorities.

Sanctions in case of no or late filing:

  • If an individual is the legal representative :max 6 months imprisonment and € 7 500 fine and not entitled to be legal representative in France (for a certain period).
  • If a company is the legal representative: fine of € 37 500 plus additional administrative measures (which have not yet been defined by the Conseil d’Etat).

We are at your disposal to assist you in fulfilling the formalities with the trade register and to answer your queries.

Mirjam BERG
Attorney at law at the Paris bar