- French companies can be incorporated or wound up and their articles of association can be amended without the involvement of a notary?
- a simplified joint-stock company governed by French law (société par actions simplifiée – SAS) is now the most widely used company form? The background to this is that there is greater flexibility in structuring this French company form than the French limited liability company (société à responsabilité limitée - SARL). Partnerships such as the French general partnership (société en nom collectif – SNC) do not play a significant role in French business life. French law does not provide for an equivalent to the concept of a GmbH & Co KG, which is widespread in Germany.
- the statutory minimum capital requirement (EUR 37,000) is now only required for the classic French public stock corporation (SA)?
- the minutes of shareholder resolutions concerning the increase or reduction in the capital of a French company must be registered with the French tax authorities before the appropriate administrative formalities can be carried out with the French commercial register?
- in contrast with German law on limited liability companies, the articles of association of a French SARL cannot stipulate an obligation on the shareholders to make additional contributions?
- auditors are appointed for 6 years? If the appointment is made voluntarily, i.e. without being legally binding, the appointment may be limited to a period of 3 years?
- the managing directors of a French company may, under certain conditions, combine their directorship with an employment contract?
- the by-laws of a French company and, in particular, restrictions on the powers of its managing director (by listing transactions requiring approval) have no effect external to the company?
- under French law, the winding up, without liquidation, of a company of which a legal person is the sole shareholder, is effected by a decision to wind up the company followed by universal succession?
- there is no provision for a restrictive year between the decision to wind up a French company and the end of its liquidation?
Avocat - Of Counsel