Sometimes, when you've taken the time to travel the world, you feel the urge to move abroad to work and immerse yourself fully in a new culture. For entrepreneurs at heart, setting up a French business abroad can be an exciting and lucrative adventure, but it requires being well organized, having a clear idea of the business you want to develop, as well as a thorough understanding of local procedures and business regulations. Whether you want to expand your existing business in France, take advantage of international markets or simply explore new opportunities, the following guide will help you make sense of the process of setting up a business abroad.
Choosing the right destination
While setting up a French company abroad is an exciting adventure, both professionally and personally, the destination shouldn't be chosen at random. If you want to live there, you obviously need to fall in love with the country you've chosen. This means feeling at home in the chosen city, feeling a deep desire to learn the language and discover the different facets of the culture- a desire that can be reawakened when you've visited a destination several times and literally fallen in love with it.
On a purely professional level, before embarking on the creation of a French company abroad, it's essential to carry out in-depth research into the target market. Just as it's always advisable to carry out market research when setting up a business in France - and there's some excellent advice on the subject on Le Blog Du Dirigeant - setting up a business abroad requires :
- Understanding the demand for your products or services
- Analyze local competition
- Assessing the financial viability of your business in this new environment
These steps are crucial in determining the feasibility of your project , and adapting your approach accordingly.
How to set up a French company in Europe
Setting up a French company in a member country of the European Union is much simpler. Any European citizen is free to set up his or her own company, or a branch of a company registered in a member state.
Even if formalities vary from country to country, the EU encourages states to achieve certain objectives, such as setting up a company in 3 working days, with formalities costing less than €100, the possibility of registering a company online in another EU country, or the possibility of completing all formalities online and with a single body.
If you're looking for assistance and/or financial support in setting up a French business in Europe, you can turn to a number of different organizations, such as :
- Business France - International Business Development Agency
- Chambers of Commerce and Industry (CCI)
- General Directorate of Customs and Excise
- BPI France
- Team France Export, etc.
These organizations are in the best position to advise entrepreneurs on their choice of status, administrative formalities, possible financial aid and how to obtain it, as well as the most attractive European countries. Denmark and Norway are very attractive European countries, and should be considered by entrepreneurs who have enjoyed traveling to the Nordic countries, to the point of wanting to live there.
How to set up a French business outside the European Union ?
Sometimes our travels take us to faraway lands, and we come back with a deep desire to drop everything and go live in Asia or Oceania. Setting up a French company in a non-EU country can be more complex. You need to be familiar with the formalities involved in obtaining a visa to set up a business.
To find out about the formalities involved in setting up a business, the regulations in force in the sector of activity concerned, the possible statuses on the spot and the financial aid to which you may be entitled, the ideal solution is to opt for one of the following options:
- Get in touch with a local partner: being in contact with a local resident/entrepreneur is the best way of acquiring knowledge of the sector concerned and the country's regulations
- Contact an incubator: incubators are structures that support entrepreneurs in their business projects. They exist abroad, and you may even be lucky enough to find a French incubator.
- Develop a local network: don't hesitate to make several visits to your chosen destination to build up a network. These may be local entrepreneurs or French people who have tried their luck in the country concerned
In France, as when setting up a French company within the EU, Business France, the Chambers of Commerce and Industry, the French Customs and Excise Authority, BPI France and Team France Export can offer support. And don't hesitate to approach local French institutions such as consulates and embassies. They are present in many countries and can provide answers to many questions about entrepreneurship.
The UK, Hong Kong, Singapore and New Zealand are all very attractive territories in which to develop a French business. Finally, if opportunities arise while you're away, there are useful tools available to enable you to speak to someone by video, or to sign documents electronically.
Discovering new countries is a passion for many of us. Travellers with an entrepreneurial spirit who want to set up abroad to develop their business can make their dream come true. As long as they are familiar with local procedures and know how to surround themselves with the right contacts.
