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French company beneficial ownership register

French Corporate UBO register

A new legal obligation involving companies was introduced in France effective from 1 August, 2017, which sets up a Beneficial Owner Registry recording the identity of the final beneficial owner of all the non-listed companies in the Trade and Companies Registry.
Provisions of the law:
The obligation is transposed from the European Anti-Money Laundering Directive 2015/849 dated  May 20, 2015, Ordinance 2016-1635 of December 1, 2016 which imposed on legal non-listed entities registered in the Trade and Companies Registry, a reporting obligation about their beneficial owner, thus confirming who ultimately controls the legal person. 
The implementing Decree N°2017-1094 dated June 12, 2017 outlines the conditions of operation of the beneficial owners registry. 

Scope of application:
This new obligation applies to all non-listed companies and other legal entities registered in the Trade and Companies Registry, and that regardless with their legal status (SA, SAS, SARL, SCI, GIE...).
Beneficial owner definition:
Since the decree does not provide the definition of the beneficial owner, we have to refer to the definition provided by Article R 561-1 of the Monetary and Financial Code, as "all individual who holds directly or indirectly more than 25% of the share capital or voting power, or who exercises by any other way a power control on the management, supervisory or executive body of the company or on the general meeting of the shareholders".
The above-mentioned definition may be modified or completed with a future Decree.
In case of change of the beneficial owner, a new document must be submitted within 30 days after that change.
Communication of the document:

The Beneficial Owner Registry is not public.
The decree listed the authorities allowed to consult that document, as: judicial officer, customs officer, tax authorities officer, financial market investigator...
Furthermore, the document can be disclosed to all person justifying a legal interest and allowed by a court decision.
Consequences in case of non-filing :
The non-respect of the obligation may lead to 6 months of imprisonment and a penalty of €7,500, the prohibition from managing and the partial deprivation of the civil and civic rights for the individuals, and to €37,500 for the legal entities.
Companies registered before 1 August 2017 shall have until 1 April 2018 to comply with the provisions of this Decree and to file the document relating to their beneficial owners.
Rosemont Consulting can assist you in the completion of the formalities which must be done in order to respect this new obligation.
Our work will consist of:

► establishing the document identifying the beneficial owner, based on the documents and information that you will provide to us;
► submitting the document in the Trade and Companies Registry.

If you require assistance in this respect please contact Nicolas Trucco at